DETROIT, Jan. 15, 2020 /PRNewswire/ -- Lower-middle-market private equity firm Huron Capital today announced its building automation and energy services platform, Albireo Energy, has acquired Advanced Automated Systems, Inc. ("AAS"), a provider of building automation and energy management services.
Albireo, one of Huron Capital's ExecFactor® initiatives, was launched to provide smart building automation and energy services to commercial and institutional customers throughout the U.S. Albireo has invested in 18 companies through 12 separate acquisitions since it was formed by Huron Capital in 2014.
The acquisition of Advanced Automated represents an opportunity to strengthen Albireo's presence on the West Coast and offers significant potential to expand relationships with key customers in Southern California and other markets.
Advanced Automated was founded in 1992 by Maureen Jowdy and her son, Keith Voysey, in Yorba Linda, California. Over the past three decades, the Company has built an impressive roster of clients across a variety of industries such as healthcare, government, education, and commercial offices. Voysey, who is currently managing the business, will remain with the combined company as a member of the management team to help promote future growth.
"Advanced Automated has experienced tremendous growth and has developed a solid operational foundation in Southern California," Voysey said. "This partnership allows us to continue to invest in our business locally as well as extend nationally with Albireo's coast-to-coast footprint."
Albireo, led by CEO Phil Rogers, is a Huron Capital ExecFactor® initiative, which combines a CEO's industry expertise with Huron Capital's extensive investment experience and committed capital.
"Our partnering with Advanced Automated further solidifies our goal of becoming the number one independent provider of smart building solutions and services throughout the U.S.," Rogers said. "For nearly thirty years, AAS has been providing superior technical expertise, innovative solutions and unsurpassed quality relating to all aspects of building automation and access control solutions to their customers and we welcome their extremely talented group of employees to the Albireo family."
"We are incredibly pleased to add AAS to the Albireo family," said Huron Senior Partner Jim Mahoney. "This acquisition represents a strong start to the year, and we are motivated to continue this momentum and further develop our team of exceptionally talented industry leaders."
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® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Celebrating its twentieth anniversary in 2019, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 190 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital 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 Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm's operational approach to creating value. 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 national building automation and integration solutions and energy services to commercial and institutional buildings. 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 Advanced Automated Systems
Advanced Automated Systems is an innovated, independent building automation, energy management firm primarily servicing the region of Southern California. They employ unique solutions to energy management and automation by addressing energy utilization from the perspective of facilities and property management as well as the property owner. Advanced Automated is an industry leader in providing services of energy management, mechanical, electrical, lighting, card access and surveillance camera systems. For more information, please visit: www.advancedautomated.com.
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
Brent Snavely, Director
Lambert & Co.
SOURCE Huron Capital