Huron Capital Partners’ portfolio company, Hughes Associates, has acquired Anoba Consulting Services, a niche engineering firm specialising in probabilistic risk assessment (PRA) and other risk-modelling services.
Mandated by the federal government, PRA uses highly analytical software programmes and risk models that allow nuclear power plants to assess the underlying operational risks in their business and the potential impact of catastrophic events.
Prior to the acquisition, Anoba had been a key strategic partner for Hughes, often serving as a subcontractor on its nuclear power generation consulting projects. The transaction brings Anoba and Hughes together and expands Hughes’ capabilities in the rapidly growing PRA industry.
Liz Kleinsorg, managing director of Hughes’ power division, says: "We are thrilled to join forces with Rick Anoba and his industry leading team of PRA engineers. The acquisition extends our presence in another high-growth, niche engineering segment of the industry and provides opportunities to generate new revenue streams from new and existing customers."
Huron originally invested in Hughes in May 2011.
"When we invested in Hughes, our plan was to build the business both through strategic acquisitions and internal growth. We continue to deliver on that plan with this second add-on and look forward to pursuing additional opportunities with Phil DiNenno and the rest of the Hughes management team," says Huron partner Peter Mogk.
