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Hennessy Capital Acquisition Corp. III
Hennessy Capital Acquisition Corp. III is a special purpose acquisition company formed in 2019 by Daniel J. Hennessy.
Hennessy Capital Acquisition Corp. III
Hennessy Capital Acquisition Corp. III is a special purpose acquisition company formed in 2019 by Daniel J. Hennessy. The firm's third SPAC vehicle aimed to merge with a target in the industrial, infrastructure, or energy-transition sectors. Hennessy previously led two earlier SPACs that completed mergers with companies including Daseke and ESCO Technologies. Strategy centers on identifying a single private operating business in the industrial or energy-transition space. The SPAC structure limits deployment to the trust proceeds from its IPO, plus any additional PIPE financing. The vehicle's mandate includes direct acquisition of a target company, rather than a portfolio of investments. Geographic focus remains North America. The third SPAC held a $403.8 million IPO in January 2020, with proceeds held in trust pending a business combination. The vehicle listed on the Nasdaq under the ticker HCACU. Daniel Hennessy serves as Chairman and CEO; Peter Denious as President and CFO. No additional offices beyond Wilson, Wyoming have been disclosed. Hennessy Capital operates as a series of vehicle-specific SPACs rather than a permanent capital base. Each vehicle has a defined two-year acquisition window, after which it must liquidate if no deal closes. This structure distinguishes it from traditional family offices or asset managers that maintain indefinite capital.
General information
Firm type
Special Purpose Acquisition Company
Year founded
2019
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Wilson
Corporate office
Wilson, WY, United States
Principals
Daniel J. Hennessy
Chairman and Chief Executive Officer
Peter L. J. Denious
President and Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Hennessy Capital Acquisition Corp. III?
Daniel J. Hennessy serves as Chairman and CEO; he also led Hennessy Capital's prior SPAC vehicles. Peter L. J. Denious is President and CFO. The management team evaluates potential acquisition targets. Board members oversee the deal process.
How does Hennessy Capital source proprietary deal flow?
Hennessy Capital relies on the management team's network in industrial and energy sectors. The firm has relationships with intermediaries, investment banks, and target company management teams. Prior SPACs sourced deals through direct outreach and advisor introductions.
Is Hennessy Capital Acquisition Corp. III structured as a single family office or does it operate more like a venture firm?
It is a special purpose acquisition company (SPAC), distinct from both family offices and venture capital firms. The SPAC is a blank-check vehicle with a defined acquisition mandate and a two-year timeline to complete a merger. It does not manage ongoing capital or multiple portfolio companies.
Does Hennessy Capital participate in fund commitments or only direct deals?
Hennessy Capital Acquisition Corp. III pursues a single direct acquisition, not fund commitments. It holds IPO proceeds in trust until a target is identified. The vehicle may also raise PIPE financing for the deal.
What investment stages does Hennessy Capital typically target?
The SPAC targets mature private companies in industrial, infrastructure, or energy-transition sectors. It typically seeks established businesses with proven revenue and a path to public listing. Earlier-stage or VC-stage companies are not typical targets.
Which sectors does Hennessy Capital explicitly avoid?
The firm has historically focused on industrial and energy-transition opportunities and has not targeted healthcare, financial services, technology (beyond industrial tech), or consumer brands. The SPAC's mandate is specified in its IPO prospectus.
How is Hennessy Capital related to prior Hennessy Capital SPACs?
Daniel J. Hennessy led Hennessy Capital Acquisition Corp. I and II, which completed mergers with Daseke and ESCO Technologies respectively. Hennessy Capital Acquisition Corp. III is the third vehicle in this series, each independent but with shared management. The prior vehicles have liquidated or are no longer active.
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