© mailthepic dreamstime.com General | December 28, 2017
Hubbell to acquire Aclara Technologies for $1.1 billion
Hubbell Incorporated has entered into a definitive agreement to acquire Aclara Technologies LLC, an affiliate of Sun Capital Partners, for approximately USD 1.1 billion in an all-cash transaction.
The transaction aims to strengthen and broaden Hubbell Power Systems' competitive position across utility markets. Aclara offers a suite of solutions, including advanced metering infrastructure, meters and edge devices, software, and installation services. These products and services provide utilities visibility into their distribution networks. With approximately 1’200 people working with more than 800 electric, water and gas utilities worldwide. "This is an exciting transaction that is consistent with our long-standing acquisition strategy. Aclara participates in attractive markets that complement our core with high quality products and talented people," said David G. Nord, Chairman, President and CEO of Hubbell. "Together with Aclara, Hubbell will be even better positioned to serve customers through a differentiated smart grid solution and expanded portfolio.” "We are delighted to join a company with Hubbell's resources, alliance relationships with major utilities, and shared commitment to quality and innovation," said Allan Connolly, President and CEO of Aclara. "Aclara appreciates the support Sun Capital provided to establish us as a world leading provider of end-to-end, smart infrastructure solutions for electric, water and gas utilities. We look forward to our future with Hubbell and all that we will achieve together."