New Jersey-based Albireo Energy of Detroit’s lower-middle-market private equity firm Huron Capital has acquired Quality Building Controls, a provider of building automation systems and related repair and maintenance services in Florida. This is Albireo’s 11th acquisition.
Quality was founded in 1997 and primarily serves customers in the education, health care, industrial, and commercial industries throughout central Florida.
“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,” says Jerry Dohse, founder and president of Quality 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 will increase Albireo’s presence in the southeast and extend the company’s customer base in Florida. All management and team members will continue in their current roles at Quality.
“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,” says Phil Rogers, CEO of Albireo. “As one unified front, we believe Albireo will continue to grow and gain market share across the region.”
Huron Capital formed Albireo in 2014 in an effort to build an industry leader in the U.S. market for energy efficiency, building automation, and energy management. To date, Albireo has invested in 17 companies through its 11 acquisitions.
Albireo is one of 15 Huron Capital ExecFactor initiatives, which combines CEOs’ industry expertise with Huron Capital’s investment experience and capital.
Huron Capital uses a buy-and-build investment model and has established six investment funds totaling about $1.8 billion in capital over the past two decades. It has completed more than 175 transactions throughout North America, and its portfolio companies have had 15,000 employees, aggregate annual revenues exceeding $3 billion, and operated more than 325 facilities.