Huron Capital-backed Albireo Energy has acquired Alabama Controls Inc., 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 is intended to deepen and further diversify Albireo's customer base in the government and higher education sectors, as well as broaden 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," Albireo Energy CEO Phil Rogers said in a statement. "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."
Pelham, Alabama-based 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. 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," Alabama Controls Owner, Treasurer and CFO Bobby Reuse said in a statement. "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, in a statement.