Hubbell Inc. recently announced that it has completed its acquisition of Aclara Technologies LLC. Hubbell financed the acquisition as well as related transactions with net proceeds from borrowings under a new unsecured term loan facility in the aggregate principal amount of US$500 million, the issuance of 3.5 per cent Senior Notes due in 2028 in the aggregate principal amount of US$450 million and issuances of commercial paper.
Aclara offers a range of comprehensive solutions, including advanced metering infrastructure, meters and edge devices, software, and installation services. These products and services provide utilities visibility into their distribution networks, optimise network performance and help engage with their customers. Moreover, Aclara also provides actionable insights to help utilities predict, plan and respond to conditions, improve operational efficiency, and promote resource conservation to customers.
“We are pleased to announce we have completed our acquisition of Aclara and welcome the Aclara team to the Hubbell organisation,” David G. Nord, Chairman, President and CEO of Hubbell, said. “Hubbell Power Systems has demonstrated its ability to successfully integrate acquisitions, and we are excited to combine these two great organisations. We have long admired the position of Aclara’s businesses in the industry, and are confident that Hubbell and Aclara’s combined capabilities will allow us to better service our customers and deliver increased value to our shareholders.”
Aclara’s business units will be managed under Hubbell’s Power segment.