Hubble Power Systems, a subsidiary of Hubble Incorporated, will acquire Aclara Technologies for $1.1 billion.
St. Louis-based Aclara Technologies provides smart infrastructure for utilities. Aclara’s solutions support monitoring of critical infrastructure and give utilities the ability to plan ahead for maintenance and outages. Hubble Power Systems provides a variety of technologies and hardware to utilities and construction projects.
Hubble will buy Aclara from Sun Capital Partners, a Florida-based private equity firm. Sun Capital launched Aclara as an independent business after acquiring it from ESCO Technologies in 2014. Since becoming independent, Aclara has made several acquisitions to add features and capabilities that will now be part of Hubble. Those acquisitions include the smart grid business from Tollgrade Communications; the smart grid business from Apex CoVantage and a majority interest in General Electric Philippines Meter & Instrument Company, a joint venture with Manila Electric Company.
In a statement, Hubble Power Systems said the deal will strengthen its position as a technology provider to the utilities market. “We have long admired the position of Aclara’s businesses in the industry,” said David G. Nord, Hubble Incorporated Chairman, President and Chief Executive Officer.
The transaction is expected to close in the first quarter of 2018.