Lower middle market private equity firm, Blackford Capital (Blackford) has expanded it existing automation industrial automation platform PACIV with the acquisition of Ace Controls, a Houston, Texas-based designed and manufacturer of industrial control panels.
Terms of the transaction have not been disclosed.
Ace Controls is the third acquisition for the PACIV platform since its establishment in June 2023, following its add-on acquisitions of Data Science Automation in January 2024, and Eight12 Automation in May 2024.
PACIV has already established a strong presence in the healthcare and life science industries, and the addition of Ace Controls brings a new focus on industrial applications in the water and wastewater industry, and also further expands the platform’s control panel capabilities. Ace Controls has a 95% repeat business rate from its customers, who represent the equipment manufacturing, electrical contracting, and general contracting sectors.
Generational Group served as exclusive financial advisor and Lancaster | Helling served as legal advisor to Ace Controls. Varnum served as legal advisor and RSM US served as the financial and tax advisor to Blackford and PACIV. Mercantile Bank provided debt financing, and Rush Street Capital provided financing advisory services in support of the transaction.
