Albireo Energy, a platform portfolio company of Huron Capital Partners, has acquired Sky Technologies, a provider of energy and power monitoring systems.
Huron Capital formed its Albireo Energy platform in 2013 by partnering with industry executive Phil Bomrad to make investments in the energy services and smart buildings sectors. Mr. Bomrad has spent over 20 years in the clean technology and energy efficiency industries. 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.
Sky Technologies installs and manages energy systems for data centers utilized by Fortune 500 companies, financial institutions, technology companies and higher education institutions. The company was founded in 1998 and is headquartered in Alexandria, VA (www.skietech.com).
The buy of Sky Technologies is the fourth acquisition that Albireo Energy has made in the past 10 months, following investments in Energy Options based in Edison, NJ (www.energy-options.com); Electronic Control Systems based in San Diego (www.ecscontrols.com); and Green Total Solutions, also based in San Diego (www.greentotalsolutions.com).
In addition to geographic expansion, Albireo Energy plans to add additional services including centralized facility monitoring, consumption monitoring, energy procurement, and central plant efficiency.
According to Mr. Bomrad, Sky Technologies’ technical services bolster Albireo’s service offerings in energy efficiency and management and are complementary with Albireo’s core of building automation services. “Sky Technologies has established a reputation for highly effective, highly reliable services in mission-critical applications. By partnering with Sky Technologies, we have accelerated our entry into enterprise services available across our national footprint,” he said.
Albireo Energy provides building automation and energy services to commercial and institutional buildings across the US. The company’s service portfolio includes energy efficiency, demand response, energy procurement services and smart building solutions including building automation installations and optimization, systems integration, metering and lighting. The company has offices in San Diego, CA and Edison, NJ (www.albireoenergy.com).
“We are excited to continue to broaden Albireo Energy’s service offerings. In addition to our planned acquisition growth, we believe there are significant opportunities for organic growth as we integrate Sky Technologies under the Albireo Energy umbrella,” said Jim Mahoney, Partner at Huron Capital.
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).
Albireo Energy is named after the Albireo star, a double star in the constellation of Cygnus. The Albireo star is composed of Albireo A (gold in color) and Albireo B (blue in color). This double star system is often referred to as the “Partner Star” and is representative of Albireo Energy’s corporate goal of being a partner to its customers.
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-1-15
