Albireo Energy LLC announced Tuesday it has acquired Edison-based Energy Options LLC.
According to the announcement, Albireo is a portfolio company of Detriot-based Huron Capital Partners LLC.
"Energy Options has an exceptional reputation throughout the Northeast Region, which has allowed them to achieve sustained double-digit growth over the past four years," Phil Bomrad, CEO of Albireo, said in a statement. "We look forward to partnering with Energy Option's management team to leverage their success and expand nationally by integrating synergistic acquisitions and introducing valuable new solutions to the market."
Energy options will continue to build automation services and solutions to buildings in the New Jersey and New York metropolitan areas while using Albireo’s resources to expand its portfolio, according to the announcement.
"Our whole team is energized by becoming the platform investment for Albireo," Brad Freeman, president of Energy Options, said in a statement. "We believe we can help Phil and Huron build a strong, national provider, while enhancing our value proposition to our customers, especially those that have national footprints."
Jim Mahoney, Partner at Huron said in a statement, "After nearly a year of planning, we are very excited to partner with Energy Options, its employees, and customers to take this important step in our buy-and-build strategy. This space continues to benefit from long-term economic, legislative and social demand drivers and we believe we can fill a need in the industry by building a full-capability energy management company serving the middle-market."
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