Detroit, Michigan-based Huron Capital has exited its investment in Pristech Products, a producer of medical instrument and consumer products, Huron said in a statement.
The gross internal rate of return was 32.3 percent.
Pristech was formed when Huron sold its parent company, Prism Enterprises, in 2003. The firm retained the consumer products and contract manufacturing division and spun it out into Pristech, said Michael Beauregard, a partner at Huron Capital. Huron had bought Prism in 2000 for an undisclosed amount.
Founded in 1999 by William Campbell, Brian Demkowicz, William McKinley and Scott Reilly, Huron Capital invests in lower middle-market companies. Campbell focuses on proprietary investment opportunities. Demkowicz leads the firm’s daily operations and has a background in managing middle-market deals. McKinley focuses on business development and exit planning. Reilly is involved in the firm’s investment committee.
Huron realised a five time return on its investment in York Label Holdings, a label maker based in Pennsylvania, when it sold the company to Wind Point Partners for an undisclosed amount in March.