EEC provides energy management systems for large commercial and higher education buildings, primarily in the New York metropolitan area
Image: Albireo Energy acquires Environmental Energy Corp. Photo: Courtesy of Cytonn Photography/Unsplash
Leading lower-middle-market private equity firm Huron Capital announced today its building automation and energy services platform, Albireo Energy, has acquired Environmental Energy Corp. (EEC), a provider of energy management systems for large commercial and higher education buildings.
Headquartered in Deer Park, New York, EEC was founded in 1982 by Bob Estabrook. EEC provides energy management systems for large commercial and higher education buildings, primarily in the New York metropolitan area. The addition of EEC is the second tuck-in acquisition for Albireo’s New York division, expanding its presence in an extremely competitive market.
“Albireo’s past successes, especially in the New York market, give us confidence that the integration and growth potential will benefit our current customers and employees,” said Estabrook, who will remain with the company during an integration process. “I look forward to helping with the integration process and am excited about the combined company’s ability to capitalize on new opportunities through our pooled talent and capabilities.”
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 16 companies through 10 separate acquisitions. Albireo also is one of 15 Huron Capital ExecFactor initiatives, which combines a CEO’s industry expertise with Huron Capital’s extensive investment experience and committed capital.
“EEC represents a strong geographic and strategic fit for Albireo Energy,” said Jim Mahoney, senior partner at Huron Capital. “Its location and resources were an attractive addition for one of our fastest-growing portfolio companies, and we look forward to leveraging its expertise and network to help Albireo continue to grow in the New York metro market.”