Albireo Energy LLC, a portfolio company of Huron Capital Partners, has acquired New York City-based Sky Technologies Inc, a provider of energy and power monitoring systems. No financial terms were disclosed.
DETROIT, April 1, 2015 /PRNewswire/ — Huron Capital Partners (“Huron Capital”) today announced that its portfolio company Albireo Energy, LLC (“Albireo Energy”) has acquired New York City-based Sky Technologies, Inc. (“Sky Technologies”), a provider of energy and power monitoring systems and related services in mission-critical environments.
Sky Technologies installs and manages energy systems for data centers utilized by Fortune 500 companies, multinational financial institutions, technology companies and higher education. The company’s sophisticated technical services bolster Albireo Energy’s offering in energy efficiency and management, and are complementary with Albireo Energy’s core of building automation solutions and 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,” said Phil Bomrad, Chief Executive Officer of Albireo Energy.
Huron Capital initiated the Albireo Energy platform in 2013 under the firm’s ExecFactorSM buy-and-build investment model by partnering with industry executive Bomrad, to lead a strategic market-entry initiative into the energy efficiency services space. This is the fourth acquisition Albireo Energy has made in the past 10 months, following investments in Energy Options in New Jersey and Electronic Control Systems and Green Total Solutions in Southern California. In addition to geographic expansion, Albireo Energy plans to continue to introduce additional services including centralized facility monitoring, demand response encouraging electricity customers to reduce consumption at critical times, energy procurement, central plant efficiency, and a robust suite of related energy services.
Jim Mahoney, Partner at Huron Capital said, “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.”
In addition to Albireo Energy, Huron has active ExecFactorSM initiatives in sectors including industrial coatings, automobile remarketing, dental service organizations, and engineered plastic films.
About Huron Capital Partners, LLC
Based in Detroit, Huron Capital is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its customized ExecFactorSM buy-and-build investment model. Huron prefers complex situations 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, invested in over 90 companies, and its portfolio companies have employed over 7,500 people throughout North America. The Huron ExecFactorSM buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs and management buyouts of companies having revenues up to $200 million. Huron’s sector focus includes specialty manufacturing, business services, consumer goods & services, and healthcare. For more information, please visit www.huroncapital.com.
About Albireo Energy, LLC
Albireo Energy is a Huron Capital Partners portfolio company that provides building automation 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. The 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. For more information, please visit www.albireoenergy.com
About Sky Technologies, Inc.
Founded in 1998, Sky Technologies, Inc. provides project build and maintenance services on new and existing data centers. The Company provides energy and power monitoring system maintenance, computerized maintenance management systems, support for scheduled data center maintenance and database administration. Sky Technologies principally serves multinational financial institutions, technology companies and higher education locations.