Private equity firm Huron Capital Partners is working with long-time Siemens executive Terry Heath to build a fire detection platform company. Huron will work through holding company Sciens Building Solutions. Huron defined the ideal acquisition as a Canadian or US fire detection provider to large commercial buildings, generating at least $15 million in revenue.
Huron Capital announced this Tuesday, listing “products, inspection and test services, ongoing maintenance and monitoring” as the scope of fire detection. Huron emphasized Heath’s experience in technology, specifically with fire and security products. He was, most recently, Siemens’ SVP of Corporate Technology USA.
“We are excited to partner with Terry to build a national platform focused on exceptional customer service and specialized capabilities within fire detection,” said Jim Mahoney, partner at Huron Capital, said in a prepared statement. “We believe demographic and regulatory trends will drive growth in the fire detection space, and Terry is an experienced executive in this market who will provide strong leadership to the platform.”
“Huron Capital is a great fit for this opportunity and I'm looking forward to the mutually beneficial partnership as we look to establish a strong presence in this industry together," Heath said in the statement. Through its business model, "Huron Capital can provide the necessary financial, strategic and operational resources to support my goal to build and lead a world-class fire detection services business," he said.
Huron Capital is based in Detroit. Started in 1999, it has raised more then $1.1 billion in capital.