|[March 28, 2014]
Affiliate of Sun Capital Partners Completes Acquisition of Aclara Technologies
BOCA RATON, Fla. --(Business Wire)--
Sun Capital Partners, Inc. ("Sun Capital") today announced that one of
its affiliates has completed the acquisition of 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
enegy needs in real time, fueling greater cost-efficiency and
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 (News - Alert) 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.
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