Huron Capital Expands Energy Services Holdings, Acquires Electronic Control Systems and Green Total Solutions
Detroit, MI – October 15, 2014 – Huron Capital Partners (”Huron Capital”) today announced continued acquisition momentum in the building automation and energy services sector with the addition of Poway, CA-based Electronic Control Systems (“ECS”) and Green Total Solutions (“GTS”) to its Albireo Energy, LLC (“Albireo Energy”) platform.
Together, ECS and GTS have nearly 200 employees providing building automation solutions and energy services to Fortune 500 companies, large REITS, military bases and data centers. As divisions of Albireo Energy, the two companies will retain their names and remain headquartered in California to continue to support operations in the Western U.S. The acquisitions provide customers with coast-to-coast reach, bring a strong presence in the important Western U.S. market, and add expertise in municipal and government contracts.
“We have been aggressively pursuing the West Coast and ECS and GTS have an excellent track record, making them a perfect fit for Huron Capital and Albireo’s buy-and-build strategy,” said Jim Mahoney, Partner at Huron Capital. “We’re looking forward to the benefits these two companies will bring to the Albireo Energy platform.”
Huron initiated the Albireo platform in 2013 under the firm’s ExecFactorSM buy-and-build investment model by partnering with a proven executive, in this case industry veteran Phil Bomrad, to lead a strategic market-entry initiative. In addition to geographic expansion, Albireo Energy will introduce additional services through ECS and GTS 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.
“The acquisitions of ECS and GTS are a significant milestone for Albireo Energy both in geographic reach and the addition of municipal and government expertise. As we continue our aggressive expansion efforts, our goal was to increase our presence on the West Coast and in particular California,” said Phil Bomrad, CEO of Albireo Energy. “The acquisitions of ECS and GTS allow us to immediately and emphatically realize that mission.”
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.