Detroit-based Huron Capital, a lower-middle-market private equity firm, has announced its New Jersey-based building automation and energy services platform Albireo Energy has acquired Advanced Automated Systems Inc., a provider of building automation and energy management services in California. Details of the transaction were not disclosed.
“We are incredibly pleased to add AAS to the Albireo family,” says Jim Mahoney, senior partner at Huron Capital. “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.”
Advanced Automated was founded in 1992 by Maureen Jowdy and her son, Keith Voysey. It serves clients in the health care, government, education, and commercial sectors. Voysey currently manages the business and will remain with the combined company as a member of the management team.
“Advanced Automated has experienced tremendous growth and has developed a solid operational foundation in southern California,” Voysey says. “This partnership allows us to continue to invest in our business locally as well as extend nationally with Albireo’s coast-to-coast footprint.”
Alberio was launched in 2014 to provide smart building automation and energy services to commercial and institutional customers throughout the U.S. It is one of Huron Capital’s ExecFactor initiatives and has invested in 18 companies through 12 separate acquisitions since its founding.
“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.,” says Phil Rogers, CEO of Albireo. “For nearly 30 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.”
Huron Capital celebrated its 20th anniversary in 2019 and has raised more than $1.8 billion in capital through six committed private equity funds. It has invested in more than 190 companies, and its portfolio companies have employed more than 11,000 people throughout North America.