Sun Capital Partners announces $1.1B sale of Aclara to Hubbell
Sun Capital Partners announced that an affiliate has signed a definitive agreement to sell Aclara Technologies to Hubbell Power Systems, a wholly-owned subsidiary of Hubbell Incorporated. The agreement establishes a purchase price of $1.1B for the company. 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," said Marc Leder, vo-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."