Albireo Completes Fifth Acquisition in Thirteen Months
Detroit, MI – June 22, 2015 – Huron Capital Partners (“Huron Capital”) today announced that portfolio company Albireo Energy, LLC (“Albireo Energy”) has acquired GxP Automation, LLC (“GxP”) of Chelmsford, Massachusetts, a provider of building automation solutions predominately to the life sciences industry.
GxP designs, installs and maintains building automation systems and monitoring solutions for life sciences, commercial and other clients in the Northeast. Since its inception, GxP has strategically focused on the life sciences market due to the mission-critical nature of environment control and monitoring of pharmaceutical and biotech research labs and production facilities.
“GxP’s expertise and reputation in the Boston metropolitan area is a synergistic addition to the Albireo platform. We are excited for the opportunities to leverage GxP’s proficiency in life sciences applications across our footprint while gaining access to the highly attractive market in the Northeast,” said Phil Bomrad, Chief Executive Officer of Albireo Energy, which has operations serving a national footprint.
Huron Capital initiated the Albireo Energy platform in 2013 under the firm’s proprietary ExecFactor® buy-and-build investment model by partnering with industry veteran Phil Bomrad to lead a strategic market-entry initiative. In addition to geographic expansion, Albireo Energy will continue to introduce additional enterprise services including demand response, which encourages electricity customers to reduce their consumption at critical times, energy procurement, central plant efficiency and a robust suite of related energy services.
“We are excited to bolster our offering to life sciences clients through the partnership with GxP. Our existing footprint aligns well with that of the pharmaceutical and biotech industry, and we believe the addition of GxP will enable us to service our customer base more holistically in addition to creating opportunities to service new customers,” said Jim Mahoney, Partner at Huron Capital. This is the fifth acquisition by Albireo Energy since it became operational in May of 2014.
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