Argosy Private Equity, a lower-middle-market private equity firm, has announced the acquisition of a controlling interest in Heavy Equipment Colleges of America (HEC).
Launched in 2004 and headquartered in Las Vegas, NV, HEC is a provider of specialized heavy equipment, crane, directional drilling, and HVAC training programs across four campuses nationwide, including Georgia, Oklahoma, California, and Washington.
Known for its comprehensive programs, HEC is an educator for students looking to operate construction equipment, such as wheel loaders, backhoes, bulldozers, excavators, mobile cranes, tower cranes, lattices, and directional drills.
HEC is one of the few nationally accredited providers of heavy equipment training programs, offering classes that facilitate a smooth transition from classroom to career. HEC’s diverse range of training equips students with the hands-on experience required for safe equipment operation. With a growing demand for infrastructure and skilled labor, HEC continues to attract students with its compliance-driven and value proposition that delivers a return on tuition.
Argosy has begun implementing its Value Acceleration Methodology (VAM) along with management to enhance value in several key areas of the business. Key aspects of the value creation plan include continuing to improve classroom and field experiences based on Voice of Customer insights and optimizing brand strategy. Plus, HEC aims to execute add-on acquisitions, professionalize its IT infrastructure, and develop new training programs.
KEY QUOTES:
“With multiple locations nationwide and a curriculum tailored to students’ needs, HEC provides valuable experience, affordable training options, and qualified instruction to its students. The management team at HEC has developed strong relationships with the Department of Veteran Affairs and the Accrediting Commission of Career Schools and Colleges (ACCSC), a key differentiator for the (HEC). We believe this, combined with its track record of diversifying into new training sectors, investment in digital integration, and a seasoned executive team, positions HEC well for future growth.”
Jack Nugent, Partner at Argosy Private Equity
“HEC is very excited about our new partnership with Argosy Private Equity. With our focus on safety and maintaining high quality standards through our unique training platform, we believe Argosy will help us continue to reach even more students as they transition into careers in the heavy equipment and crane industries.”
Cory Albano, CEO
