Sun Capital-backed Aclara to Acquire GE Meters Business
November 11, 2015
Aclara Technologies, a portfolio company of Sun Capital Partners, has agreed to acquire the electricity meters business within GE Energy Management’s Grid Solutions subdivision (GE Meters). As part of the deal, expected to close by the end of the year, Aclara will acquire more than 300 employees; GE Meters’ global headquarters in Somersworth, New Hampshire; a satellite manufacturing facility in Chicago, Illinois; a center of excellence in Bilbao, Spain; and a portfolio of active patents and patent applications. The GE Meters business offers global customers a range of residential, commercial and industrial meter technology. Sun Capital has backed Aclara since March 2014.