PE Tech Report


Like this article?

Sign up to our free newsletter

Sun Capital affiliate to sell Aclara Technologies

An affiliate of Sun Capital Partners is to sell Aclara Technologies (Aclara), a provider of smart infrastructure solutions for utilities, to Hubbell Power Systems in a deal worth USF1.1 billion.

Headquartered in St Louis, Aclara is a worldwide supplier of smart meters and other field devices, advanced metering infrastructure and software and services to more than 800 water, gas, and electric utilities. Aclara enables utilities 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,” says Marc Leder, Co-CEO at Sun Capital. “During our investment period, we were able to invest in and improve the business while also quadrupling EBITDA. We are confident Aclara is poised for continuing success under its new owner.”
Sun Capital launched Aclara as an independent business when its affiliate acquired the Company from a corporate parent in 2014. Since then, Aclara has grown and improved its market position through a series of operational enhancements, as well as four add-on acquisitions of complementary businesses that were also carve-outs from corporate parents.
“Aclara is a great example of how we apply the Sun Transformation System to build companies and create value,” says Daniel Florian, Managing Director at Sun Capital. “At Aclara, we were able to build a world-class management team led by Allan Connolly, improve procurement, and, most importantly, make significant investments in R&D. Development of new products and capabilities increased Aclara’s addressable market five-fold, and resulted in a robust backlog of contracted sales of approximately USD1 billion.”
Sun Capital has strong experience in industrial businesses through current and recent affiliated portfolio companies including Robertshaw, a leading design, engineering and manufacturing company that sells critical components and control systems used to regulate all major functions of white good appliances, and ThermaSys Corporation, a manufacturer and supplier of engineered copper, brass and aluminium heat exchanger components and assemblies.

Like this article? Sign up to our free newsletter