August 24, 2020
Cascadia Capital, an investment bank serving middle market clients globally, today announced it acted as financial advisor to Automated Building Controls Specialist, LLC (“Automated Controls”), a leading smart building technologies company, in its acquisition by Albireo Energy (“Albireo”), a portfolio company of Huron Capital.
Automated Controls was founded nearly two decades ago by Brad Magruder and Michael D’Ettorre. They have grown the business into a leader in the Pacific Northwest for standard open-protocol and custom developed building automation and industrial control systems. As a Johnson Controls Certified Automated Building Controls Specialist and a leading authorized GE provider of Industrial Controls, Automated Controls specializes in all facets of building controls, designing and supplying innovative solutions to the commercial and industrial industry. Their technical expertise with computer-based automation systems are delivered to a wide variety of clients and facility environments including transportation, healthcare, education, and commercial office buildings.
Albireo is a national building automation and energy services provider backed by Huron Capital. Albireo’s acquisition of Automated Controls is a strategic expansion of their business into the Northwest, which is further benefited through the addition of a roster of marquee clients and subject matter experts in smart building technologies.
“Partnering with Automated Controls further solidifies our position of being the number one independent provider of smart building solutions and services throughout the U.S.,” stated Phil Rogers, CEO of Albireo Energy. “We are excited to add the Pacific Northwest geography to our company and are extremely pleased to welcome Automated Controls’ dedicated and talented employees and strong client base to the Albireo family.”
“Joining Albireo Energy is well aligned with our founding mission to provide clients innovative building automation solutions that maintain competitive advantage in a continually changing and complex industry,” said Mr. Magruder.
“We support the vision that Albireo leadership has set and look forward to joining the premier provider of building controls solutions with a national presence,” Mr. D’Ettorre added. “We are extremely grateful to Cascadia for their expert advice and experience as we navigated a complex transaction in a challenging environment. Cascadia’s support and guidance was highly valued.”
“Brad and Mike have built a terrific business and I look forward to watching the continued growth and evolution of their company,” commented Jamie Boyd, Managing Director at Cascadia Capital. “This transaction represents yet another great instance of Northwest entrepreneurial success. It was an honor and pleasure to advise Brad and Mike throughout this deal and I am confident that Albireo will be a terrific next phase of the Automated Controls story.”
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