Private equity firm?Huron Capital announced its building automation and energy services platform, Albireo Energy, has acquired Alabama Controls, a provider of building automation and HVAC control solutions as well as equipment and parts sales.
Albireo has already invested in 15 companies through nine separate acquisitions. Albireo is an initiative launched by Huron Capital to provide smart building automation and energy services to commercial and institutional customers throughout the U.S.
The company highlighted that 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.”
“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 T=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.”
Current Alabama Controls management will remain active in the operations of the company. Financial details of the acquisition were not disclosed.
“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.
Albireo Energy provides building automation and integration solutions and energy services to commercial and institutional buildings.. The firm said its solutions and services help building owners and managers improve efficiency and reduce operational costs.
Alabama Controls was founded in 1975 and is headquartered in Pelham, Alabama. The company employs over 80 people in seven offices with locations in?Alabama,?Florida?and?Tennessee.