Albireo Energy, a portfolio company of Huron Capital, has acquired Alabama Controls, a provider of energy management services.
Alabama Controls is a provider of building automation and HVAC control solutions as well as equipment and parts sales to government agencies, large commercial buildings and higher education. The company employs over 80 people in seven offices with locations in Alabama, Florida and Tennessee. The company was founded in 1975 by Clayton Reuse and is headquartered south of Birmingham in Pelham, AL (www.alabamacontrols.com). 
“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.” The current Alabama Controls management will remain active in the operations of the company under Albireo Energy ownership.
“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 complementary 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.”
Huron formed its Albireo Energy platform in 2014 to make investments in the energy services and smart buildings sectors. The company is headquartered in Edison, NJ (www.albireoenergy.com).
The buy of Alabama Controls is the eleventh add-on acquisition for Albireo under Huron ownership. The other acquisitions include EMS Technologies (January 2019), Taylor Consulting (November 2018), Energy Management Control (April 2018), Energy Systems Technologies (July 2016), Advance Power Control (July 2016), GxP Automation (June 2015), Sky Technologies (March 2015), Electronic Controls Systems (October 2014), Green Total Solutions (October 2014), and Energy Options (June 2014).
“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.”
Huron Capital makes control and non-control investments in companies with revenues of $20 million to $200 million and EBITDAs of $5 million or more. Sectors of interest include business services, consumer goods & services, and specialty industrials. Founded in 1999, the Detroit-based firm has raised over $1.8 billion in capital through six private equity funds and invested in over 175 companies (www.huroncapital.com).
© 2019 Private Equity Professional | July 19, 2019
