Hennessy Capital Acquisition Corp. III (NYSE American: HCAC) is a Special Purpose Acquisition Corporation (SPAC) – also known as a blank-check company – formed to invest in one or more companies in the industrial infrastructure and industrial growth sector. The company was taken public on June 22, 2017, ultimately raising more than $256 million.
The company’s acquisition and value creation strategy is to capitalize on the resurgence of industrial and infrastructure activity in the U.S. by identifying, acquiring, and building a U.S.-based, industrial manufacturing, distribution, or services company.
HCAC management believes now is the time to invest in this segment, and that the industrial and infrastructure renaissance has begun. According to third-party studies, the U.S. infrastructure lags behind industrialized economies across several categories, and the current administration has prioritized the modernization and expansion of the U.S. infrastructure, promoting investments of at least $1 trillion over 10 years. Further, more than $100 billion of investments in the United States have been announced by major corporations, such as Apple, and by government entities, such as The Port Authority of New York and New Jersey, according to media reports.
HCAC management is actively evaluating target companies to identify the next great American industrial growth company in the mission-critical industrial infrastructure and diversified industrial business segment.
For more information please contact Hennessy Capital.