DETROIT — Leading lower-middle-market private equity firm Huron Capital has partnered with Chicago-based KCM Capital Partners and Columbus-based Stonehenge Partners in a joint investment in national food service supplier Atlantic Beverage Company. Atlantic Beverage will serve as Huron Flex Equity’s newest platform in the food service and distribution markets.
Founded in 1986, Atlantic Beverage is a leading specialty importer and distributor of more than 2,000 non-perishable food and beverage products to food service customers across the U.S. Headquartered in Edison, New Jersey, the company will continue to be led by Founders Jeff Muhlgeier and Elliot Braun.
“We are excited to collaborate with our new equity partners and believe this relationship will benefit our customers and employees as we expand our resources and operating expertise,” said Braun. “We started out more than 30 years ago as a wholesale beverage operation and have grown into a top food service distribution company serving customers throughout the country with a roster of national brands, company-owned import brands and in-house packaged spices.”
Since its inception, Huron Flex Equity has completed non-control equity investments in three companies.
“With its strong market presence and proven longevity, we believe Atlantic Beverage is an excellent investment opportunity with an industry leader that will benefit from our combined resources,” said Doug Sutton, Partner and head of Huron Flex Equity. “Our goal is to further develop and boost the market share of Atlantic Beverage by working with Jeff and Elliot to cultivate organic growth, product line expansion, and additional acquisitions.”
Derek Ferguson, Partner at KCM Capital Partners, added, “Atlantic Beverage has a solid foundation with a deep market presence on the East Coast, South and Midwest, presenting us with a dynamic opportunity for growth. We are thrilled to partner with Huron Capital, Stonehenge Partners and Atlantic Beverage’s seasoned management team to further advance the company.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 150 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control (Private Equity) and non-control (Flex Equity) stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit www.huroncapital.com.