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. […]