Huron Capital Partners is partnering with former CEO of Clean Urban Energy Phil Bomrad to form a platform company in energy services. Through holding company Albireo Energy, Huron will invest and partner with regional and niche energy service providers to build businesses around energy efficiency and grid services for commercial and institutional buildings.
Huron Capital Partners LLC has formed a partnership with industry executive Phil Bomrad to build a platform company in the energy services industry. Through a holding company, Albireo Energy, Huron will invest in and partner with regional and niche energy service providers to build a world-class service business in energy efficiency and grid services for commercial and institutional buildings. The new company will provide holistic energy solutions to building owners that lower operational costs and the environmental impacts of their buildings.
“We are excited to partner with Phil on this exciting opportunity,” said Jim Mahoney of Huron. “There has been significant growth in this space, and Phil is a proven executive in this market segment.”
“It is great to be working with Huron,” added Phil Bomrad. “Huron has a philosophy of partnering with strong executives to execute buy-and-build strategies through which they seek to source good opportunities and support growth with needed capital and operational expertise.”
Albireo Energy will target companies with 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
Strong recurring service revenue base with high customer retention
About Huron Capital Partners LLC
Huron Capital is an operationally-focused private equity firm that seeks to grow lower middle-market companies through customized buy-and-build investments. Huron pursues opportunities where it can help companies reach their full potential by combining its operational approach, substantial capital base and transaction experience with proven operating executives. Founded in 1999, Huron has raised over $1.1 billion in capital through four committed private equity funds and its portfolio companies have employed over 7,500 people throughout North America. With offices in Detroit and Toronto, Huron sponsors recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron has broad investment discretion and has invested in a variety of geographies and industry sectors. For more information, please visit www.huroncapital.com.
About Phil Bomrad
Phil is a veteran executive that has spent over 20 years in CleanTech and energy efficiency. He is the former CEO of Clean Urban Energy (CUE) and previous to that was an executive for Siemens Industry, Inc. and Tridium. Phil’s experience spans demand response, energy procurement, monitoring based commissioning, energy and sustainability reporting, retro commissioning, and energy retrofits.
SOURCE Huron Capital Partners