Private equity firm Concurrence Capital Holdings LLC made its first investment in September with the acquisition of Mission Design & Automation LLC, a 13-year-old producer of automation systems for the automotive, office furniture, medical and consumer goods industries. Formed earlier in the year by partners Jason Byrd and Michael Brom, Concurrence Capital looks to invest in more companies as the U.S. economy appears poised to remain in good shape throughout 2018.
“Our firm’s contention is that there continues to be many positive indicators, such as easier access to capital, inexpensive energy, corporate tax policy changes and historically low interest rates. Those indicators would suggest we still have some additional innings left in this recovery. However, we believe that continued growth may be at risk given current geopolitical disturbances, but we are hopeful that logical and cooler heads will prevail. The political environment is certainly on our minds. However, we believe that investing in and acquiring businesses requires a consistent effort and it’s difficult to turn that spigot on and off. With that in mind and in an appropriate manner, we are continuing to look for new investments. … We continue to maintain a measured degree of optimism for 2018 and especially so with regard to our region. Business leaders that came before us here in the region invested in the community, which set the foundation for the growth that has been and will be experienced into the region’s future. That prior planning has created an environment that is beneficial for business owners who want to create opportunities for their employees and continue their legacies irrespective of the national economy. With that in mind, we are actively investing in our current businesses as well as looking for new investment opportunities with industrial business owners that have those same shared core values.”