Daily News: August 7, 2019

LBC Credit Supports Albireo Acquisition of Alabama Controls

LBC Credit Partners increased the Albireo Energy credit facility to support the acquisition of Alabama Controls.

Huron Capital formed its Albireo Energy platform in 2014 to make investments in the energy services and smart buildings sectors. To date, Albireo Energy has invested in 15 companies through nine separate acquisitions.

LBC served as agent and sole lead arranger for the senior secured credit facility.

Alabama Controls is a provider of building automation and HVAC control solutions as well as equipment and parts sales to government agencies, large commercial buildings and higher education. Alabama Controls employs over 80 people in seven offices with locations in Alabama, Florida and Tennessee. The company was founded in 1975 and is headquartered Pelham, Alabama.

Founded in 1999, Huron Capital is an operationally focused private equity firm that has raised more than $1.8 billion in capital through six committed private equity funds and invested in more than 150 companies.