Albireo Energy, which is backed by Huron Capital, has acquired Tampa, Florida-based Quality Building Controls, a provider of building automation systems and related repair and maintenance services. No financial terms were disclosed.
DETROIT, Dec. 11, 2019 /PRNewswire/ — Leading lower-middle-market private equity firm Huron Capital announced today its building automation and energy services platform, Albireo Energy, has acquired Quality Building Controls (“QBC”), a provider of building automation systems and related repair and maintenance services.
Headquartered in Tampa, Florida, QBC was founded in 1997 by Jerry Dohse and primarily serves customers in the education, healthcare, industrial, and commercial industries throughout Central Florida. QBC possesses long-term relationships with its customers, is a Johnson Controls systems dealer and employs a workforce of experienced technicians.
“Albireo Energy’s capabilities, expertise and values make it a logical fit for the next chapter of the QBC family and the customers we serve,” said Dohse, QBC’s President, who will remain with the company in a business development role. “I’m proud of what we have built and excited to position ourselves for future growth. Continuing to add resources and structure to sales and service initiatives allows us to deepen the relationships we have with our clients and provides new opportunities for our existing employees.”
The acquisition of QBC will increase Albireo’s presence in the Southeast and extend the company’s customer base in Florida, providing additional recurring revenue.
“Jerry has built QBC into a strong company with a great roster of customers over the past 22 years, and we are pleased to add his team’s experience and expertise as we execute the integration process and beyond,” said Phil Rogers, CEO of Albireo Energy. “As one unified front, we believe Albireo will continue to grow and gain market share across the region.”
In addition to Dohse, all other management and team members will continue in their current roles at QBC.
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. To date, Albireo has invested in 17 companies through 11 separate acquisitions. Albireo is one of 15 Huron Capital ExecFactor® initiatives, which combine a CEO’s industry expertise with Huron Capital’s extensive investment experience and committed capital.
“Albireo has achieved impressive growth over the past five years through Phil’s leadership and the acquisitions that have been successfully integrated since its inception,” said Brian Rassel, Vice President of Private Equity at Huron Capital. “We believe QBC and the talented team led by Dohse will help to continue to fuel Albiero’s growth across the Southeast region.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® and buy-and-build investment models. We prefer complex situations where we believe we can help companies reach their full potential by combining our operational and strategic resources, substantial capital base, and transaction experience with seasoned operating executives. Over the past two decades, Huron Capital has successfully established six investment funds totaling approximately $1.8 billion in capital and has completed over 175 transactions throughout North America. Huron Capital portfolio companies have had aggregate annual revenues exceeding $3.0 billion, 15,000 employees and operated over 325 facilities. Huron Capital targets both control and non-control equity stakes in fundamentally sound companies that the firm believes can benefit from its operational approach to creating value.
These transactions typically take the form of equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Albireo Energy
Albireo Energy provides building automation and integration solutions and energy services to commercial and institutional buildings nationally. Their solutions and services help building owners and managers improve efficiency and reduce operational costs while improving comfort for tenants. Through its operating divisions, Albireo Energy has a history of providing exceptional solutions to mission critical facilities such as data centers, labs, military installations, and hospitals. For more information, visit www.AlbireoEnergy.com.
About Quality Building Controls
Quality Building Controls is Central Florida’s leading building automation provider. Their goal is to install and maintain every system they engineer or retrofit to promote the best possible building environment while insuring the sustainable, cost effective utility solution in the area. Their system solutions provide control for the entire range of applications from common comfort cooling to maintaining critical environments, spanning almost every industry including; pharmaceutical processing, office, retail, industrial, healthcare, education and more. For more information, visit www.qualitybuildingcontrols.com.