PE firm Huron launches energy services platform

The Detroit firm has teamed with energy exec Phil Bomrad to form Albiero Energy.

Huron Capital, an operationally-focused private equity firm, has partnered with industry executive Phil Bomrad to create Albiero Energy, a company that will focus on acquiring and building energy services companies, according to a statement.

Albiero will invest in or acquire companies with annual revenues of between $20 million and $200 million that serve the building efficiency market.

“The new company will provide holistic energy solutions to building owners that lower operational costs and the environmental impacts of their buildings,” Huron said in the statement.

In addition to size, Albiero will target companies that, among other characteristics, have strong expertise in building automation, control systems integration, and energy efficiency retrofit projects or demand response programmes.

“Huron has a philosophy of partnering with strong executives to execute buy-and-build strategies through which they seek to source good opportunities and support growth with needed capital and operational expertise,” Bomrad said.

Previously the chief executive of Clean Urban Energy, Bomrad has more than 20 years experience in clean technology and energy efficiency. His experience includes demand response, energy procurement, energy and sustainability reporting, and energy retrofits.

Since its founding in 1999, Huron Capital has raised more than $1.1 billion in capital through four committed private equity funds and has invested in various geographies and industry sectors. It focuses on growing lower middle-market companies through customized buy-and-build investments.