New Huron Platform Targets Energy Services and Smart Buildings
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New Huron Platform Targets Energy Services and Smart Buildings

albiero nfHuron Capital Partners and Phil Bomrad have partnered to form Albireo Energy, a new platform company based in Chicago that will make investments in the energy services and smart buildings sectors.

bomrad nfPhil Bomrad has spent over 20 years in the clean technology and energy efficiency sectors. He is the former CEO of Clean Urban Energy, an energy storage and smart grid technology provider (www.qcoefficient.com). Before Clean Urban Energy, Mr. Bomrad led the Energy Services group of Siemens where he launched and built a multimillion dollar energy services business that included energy monitoring, building commissioning, demand response, procurement consulting, and energy efficiency projects.

Acquisition candidates for Albireo Energy (www.albireoenergy.com) will have 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; and
  • Strong recurring service revenue base with high customer retention

Huron Capital Partners invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include education & training, healthcare, specialty chemicals, specialty packaging, consumer products, home decor, business services, industrial manufacturing, food & beverage, and marketing services. The firm was founded in 1999 and currently manages over $1.1 billion in committed equity through four private equity funds. Huron Capital Partners has offices in Detroit and Toronto (www.huroncapital.com).

© 2014 PEPD • Private Equity’s Leading News Magazine • 2-6-14

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