Sun Capital Partners, Inc., a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, recently announced that they have agreed to sell Aclara Technologies LLC, a leading global provider of smart infrastructure solutions for utilities, to Hubbell Power Systems, Inc., a wholly-owned subsidiary of Hubbell Inc. for a purchase price of US$1.1 billion.
Headquartered in St. Louis, Missouri, United States (U.S.), Aclara is an international supplier of smart meters and other field devices, such as advanced metering infrastructure and software and services to numerous utilities worldwide, enabling them to predict and respond to conditions, leverage their distribution networks effectively, and engage with their customers.
“We’re extremely proud that we were able to grow and transform Aclara by applying our deep experience in building market-leading businesses from corporate carve-outs,” Marc Leder, Co-CEO at Sun Capital, said. “During our investment period, we were able to invest in, and improve, the business. We are confident Aclara is poised for continuing success under its new owner.”