Huron Capital Launches Energy Services Platform
Detroit, MI – February 5, 2014 – Huron Capital Partners LLC has formed a partnership with industry executive Phil Bomrad to build a platform company in the energy services industry. Through a holding company, Albireo Energy, Huron will invest in and partner with regional and niche energy service providers to build a world-class service business in energy efficiency and grid services for commercial and institutional buildings. The new company will provide holistic energy solutions to building owners that lower operational costs and the environmental impacts of their buildings.
“We are excited to partner with Phil on this exciting opportunity,” said Jim Mahoney of Huron. “There has been significant growth in this space, and Phil is a proven executive in this market segment.”
“It is great to be working with Huron,” added Phil Bomrad. “Huron has a philosophy of partnering with strong executives to execute buy-and-build strategies through which they seek to source good opportunities and support growth with needed capital and operational expertise.”
Albireo Energy will target companies with the following characteristics:
- Strong expertise in building automation, control systems integration, energy efficiency retrofit projects or demand response programs
- Existing commercial building customer base serving property managers, corporate clients or public entities
- Annual revenues of $15 million or greater, and no EBITDA minimum
- Strong recurring service revenue base with high customer retention
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.