This Research Note examines Albireo Energy, the largest independent BAS systems integration and energy services company in the U.S. We examine their growth strategy their “buy and build” business model and recent acquisitions, based on press releases, their 2022 Environmental, Social and Governance Report and Memoori analysis.
Founded in 2014, Albireo Energy, LLC provides building automation and integration solutions and energy services to commercial and institutional buildings in the United States. The company claims to be the largest independent provider of building controls and energy services in the U.S. With over 1,000 employees, the group reports $310 million in 2022 revenues and 35,000 installations in 40 countries and 44 states in the U.S., making it one of the largest independent Master Systems Integrator (MSI) in the building automation market.
The group has a specific focus on solutions to mission critical facilities such as data centers, pharmaceutical & life sciences plants, labs, military installations, and hospitals. Albireo Energy has worked with some of the largest Tier 3 and Tier 4 data centers in the world, providing a full range of technologies and services. To date, they have completed 200+ data center projects including 8.3 GW and 24M+ square feet of space.
Albireo Energy Strategy
With 24 acquisitions completed since the company was founded, Albireo Energy has been steadily augmenting its buy and build platform in the building automation and energy services sector, with the backing of private equity firm, Huron Capital.
Their three latest acquisitions occurred in 2021:
- Stellar Building Technologies. Based in Norwood, MA, Stellar specializes in intelligent building automation systems. They are a long-term provider of Tridium and Siemens solutions and can also support Honeywell and Johnson Controls sites.
- Commercial Controls Services Inc. CCS is one of Ohio’s leading security, HVAC and fire safety systems companies. With this acquisition, Albireo has expanded their footprint to Columbus, adding to their presence in the Midwest.
- Chartwell Controls – the first international acquisition, see below.
With 66% of their gross revenue in 2022 directly attributed to helping customers address their sustainability goals, the Albireo Energy Sustainability Solutions portfolio was established in 2023.
In 2022, Albireo Energy delivered 5,100+ projects with one or more of these services.
The company has a global presence with 39 offices worldwide: 32 in the US, 2 in Asia and 5 in Europe. The company’s strategic vision is to become “the number one independent provider of smart building solutions and services throughout the world”.
Albireo’s first acquisition outside North America was the merger with Chartwell in August 2021. Established in 2009, Chartwell Controls Limited is a Kent, UK-based building automation and energy management systems provider in the data center and sophisticated facility market serving the UK and EU.
They are a partner of Trend, Tridium and Schneider Electric. Clients include Santander, the NHS, Skanska, Telecity Group and the Battersea Power Station Development. In 2021, Chartwell enabled the Financial Times to cut energy bills by more than £100,000 within two years and dramatically improve energy efficiency, waste management, and occupant comfort and productivity. LinkedIn reports 77 employees.
The group’s positioning as a Master Systems Integrator (MSI) with cross-domain expertise and system-specific knowledge, with deep understanding of HVAC controls, lighting controls and energy monitoring is a highly sought after capability to navigate the increasing complexities of the Internet of Things, particularly on the Operational Technology side.
This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.