Advanced Control Systems manufactures products and systems that control key functions relating to the transmission and distribution of power, including supervisory control and data acquisition (SCADA) systems, energy management systems, distribution management systems, outage management systems, and feeder automation solutions. The company was founded in 1975 and is headquartered in Norcross, GA (www.efacec-acs.com).
“Falfurrias Capital Partners is pleased to have the opportunity to work with the ACS team. ACS’ technology solutions and deep relationships in the utility industry complement those of ITEC and enable NATDG to offer additional capabilities to its utility customers,” said Ed McMahan, partner with Falfurrias Capital. “As we support the growth objectives of ITEC and ACS, we continue to pursue additional opportunities presented by the need for significant ongoing investment in our nation’s electrical grid.”
Advanced Control Systems (ACS), will be merged with Instrument Transformer Equipment Corporation (ITEC) as part of North American Transmission & Distribution Group (NATDG) – a platform formed by Falfurrias in March 2013 to acquire and grow US-based companies that support mission-critical elements of the electric utility grid. ITEC was acquired by Falfurrias in March 2013 as the first acquisition for NATDG. ITEC is an original equipment manufacturer of instrument transformer products used by electric utilities and industrial customers. ITEC was founded in 1993 and is based in Charlotte, NC (www.itec-ctvt.com).
Falfurrias Capital Partners makes equity investments of at least $3 million in companies with revenues in excess of $10 million and EBITDAs in excess of $2 million. Industries of interest include financial services; consumer products; health care; building products; diversified manufacturing; business services; education, training, and information services; and infrastructure services. Falfurrias was founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc Oken. The firm is based in Charlotte, NC (www.falfurriascapital.com).
“The addition of Advanced Control Systems, like our initial investment in ITEC last year, is a significant step toward our goal of making NATDG a leading supplier of the technology needed to help utilities maintain a modern, safe, and reliable electric power infrastructure,” said Dave Pacyna, chief executive of NATDG. “Advanced Control Systems is well positioned to capitalize on the increasing adoption of grid automation solutions, and we look forward to working with the company’s outstanding management team to leverage this and other growth opportunities.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-25-14