Huron Capital’s Albireo Energy Completes Add-on Acquisition of Alabama Controls
Detroit, MI – July 18, 2019 – Lower-middle-market private equity firm Huron Capital today announced its building automation and energy services platform, Albireo Energy, has acquired Alabama Controls, Inc. (“Alabama Controls” or “the Company”), a provider of building automation and HVAC control solutions as well as equipment and parts sales.
To date Albireo has invested in 15 companies through nine separate acquisitions. Albireo is an ExecFactor ® initiative launched by Huron Capital to provide smart building automation and energy services to commercial and institutional customers throughout the U.S. The partnership with Alabama Controls deepens and further diversifies Albireo’s customer base in the government and higher education sectors and broadens Albireo’s national footprint to include the southeastern U.S.
“Alabama Controls’ extensive relationships and diverse customer base speak to their strong reputation in the industry,” said Phil Rogers, CEO of Albireo Energy. “We believe their significant scale and complimentary geographic presence will help us accelerate our growth in new markets for Albireo and we look forward to continuing to serve their existing customers while also pursuing new customers.”
Headquartered in Pelham, Alabama, Alabama Controls was founded in 1975 by Clayton Reuse. The Company employs over 80 people in seven offices with locations in Alabama, Florida and Tennessee. Alabama Controls provides building solutions for government agencies, large commercial buildings and higher education. The Company has built strong relationships with its top customers that have lasted more than a decade.
Current Alabama Controls management will remain active in the operations of the company. Financial details were not disclosed.
“We believe Albireo’s extensive energy solutions and building automations network will enhance Alabama Control’s offerings and benefit our current customers,” said Bobby Reuse, owner, CFO and Treasurer of Alabama Controls. “Albireo’s previous successes growing businesses in the HVAC and building automation industry and dedicated capital instills confidence that they will support the Company’s continued growth moving forward.”
Huron Capital formed Albireo in 2014 with the goal of building an industry leader in the fast-growing U.S. market for energy efficiency, building automation and energy management.
“Alabama Controls is an excellent strategic fit that we believe will expand Albireo’s fast-growing footprint across the U.S.,” said Jim Mahoney, Senior Partner at Huron Capital. “We couldn’t be more excited to welcome Alabama Controls to the Albireo family, and we look forward to the great opportunity this partnership represents.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that the firm believes can benefit from its operational approach to creating value. These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Albireo Energy
Albireo Energy provides building automation and integration solutions and energy services to commercial and institutional buildings nationally. Their solutions and services help building owners and managers improve efficiency and reduce operational costs while improving comfort for tenants. Through its operating divisions, Albireo Energy has a history of providing exceptional solutions to mission critical facilities such as data centers, labs, military installations, and hospitals. For more information, visit www.AlbireoEnergy.com.
About Alabama Controls
Headquartered in Pelham, Alabama, Alabama Controls Inc. has over 40 years of experience providing building automation and HVAC control solutions as well as equipment and parts sales. Alabama Controls primarily serves government agencies, large commercial buildings and higher education markets, among others. The Company employs over 80 people in seven offices with locations in Alabama, Florida and Tennessee. For more information please visit: www.alabamacontrols.com.
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.