Leading North American Advanced Meter Infrastructure Solutions Provider Will Become Independent Business
Sun Capital Partners, Inc. (“Sun Capital”) today announced that one of its affiliates has entered into a definitive agreement to acquire Aclara Technologies LLC (“Aclara” or “the Company”) from ESCO Technologies Inc. (NYSE: ESE).
Aclara is a leading vendor of Advanced Meter Infrastructure (“AMI”) solutions, predominately deployed by U.S. electric, gas and water utilities. AMI includes the two-way communication device within a meter, as well as the supporting network infrastructure for “smart” meters that allow utilities to remotely extract real-time consumption data and interact with their customers. By upgrading to AMI, utilities can at a minimum lower their costs by eliminating the need for manual readings, as well as improve the efficiency of their networks.
Additionally, Aclara’s software services solution enables a wide variety of customer programs through print and electronic communications and a rich online and mobile customer experience. These comprehensive customer engagement technologies allow customers to better understand their energy needs in real time, fueling greater cost-efficiency and conservation.
Headquartered in St. Louis, Missouri, Aclara services more than 600 utility customers with over 21 million endpoints deployed. The Company is the leading power line carrier vendor in the electric AMI market; ranks first in cumulative AMI units sold to fixed network gas utilities, including PG&E and SoCalGas; and manages some of the largest water AMI installations in North America, including New York City, Washington, D.C., San Francisco, Boston Water & Sewer and Toronto, Canada.
“Aclara is a strong organization that is well suited to capitalize on future opportunities as a standalone business,” said Marc Leder, Co-Chief Executive Officer at Sun Capital. “We look forward to working with management, as our deep experience in transitioning successful corporate subsidiaries into thriving independent enterprises will enable Aclara to build on its leading market position.”
About Sun Capital Partners, Inc. Sun Capital Partners, Inc. is a pioneer in private equity investing, uniquely combining the financial skills and resources of a traditional private equity firm with the insight and expertise of a world class operating team. The firm focuses on market-leading companies that can benefit from our in-house professionals, resources, and expertise in their efforts to materially improve operating performance. Sun Capital affiliates have invested in more than 335 companies worldwide with combined sales in excess of $45 billion since our inception in 1995. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates in London, Frankfurt, Paris, Luxembourg, Shanghai and Shenzhen. For more information, visit www.SunCapPart.com.