ATLANTA, March 5, 2014 /PRNewswire/ -- Falfurrias Capital Partners, a Charlotte, North Carolina-based private equity firm, has acquired Norcross, Georgia-based Efacec ACS, Inc. from the Efacec Group for undisclosed terms. The company name will change to Advanced Control Systems, Inc. (ACS), and it will operate as an independent portfolio company of the North American T&D Group (NATDG).
Falfurrias Capital Partners, founded by former Bank of America Chairman and CEO Hugh McColl, Jr. and former Bank of America CFO Marc D. Oken, formed NATDG in 2013 to acquire and grow well-performing US-based companies with strong balance sheets that support mission-critical elements of the electric utility grid. The first acquisition made by NATDG was ITEC, a Charlotte-based manufacturer of instrument transformer products.
Founded in 1975, ACS is a trusted provider of smart grid automation solutions to the electric power industry, with over 250 utility customers worldwide. The company's product portfolio includes SCADA, distribution management, outage management and substation automation. ACS was one of the first companies in the industry to deliver a truly integrated ADMS platform, combining distribution and outage management functions using a common network model and user interface. This enables electric utilities to more effectively manage their networks and provide improved outage response and service to their customers.
"ACS has a tradition of innovation that has kept us at the forefront of the transformation to an intelligent grid," said Jose Barbosa, CEO of ACS. "Together with the NATDG leadership and the backing of Falfurrias Capital Partners, we will continue developing new solutions that empower our customers to meet the challenges they face today and in the years to come."
David Pacyna, the CEO of NATDG, said, "We see tremendous value in bringing ACS into the NATDG family. The technology and applications ACS has developed to enable utilities to improve operational visualization, delivery efficiency and system reliability are industry leading. ACS will continue to deliver and support its entire portfolio of existing products, and NATDG is committed to providing the resources to keep ACS on its path of growth and innovation to serve an expanding worldwide customer base."
The existing ACS management team will remain, led by Barbosa, and the company will continue operating as a stand-alone entity. ACS headquarters will stay at its present location in Norcross. As a result of the acquisition, ACS will launch a new website and brand identity in 2014.
About Advanced Control Systems:
ACS is a leading provider of advanced automation technology to the global electric power industry. ACS control center solutions include SCADA, advanced distribution management (ADMS), energy management (EMS) and network simulation and optimization. ACS automation product lines include a wide range of flexible and cost-effective substation, distribution, and feeder automation solutions. ACS is powering the utility of the future – today. For more information, please visit www.efacec-acs.com.
About Falfurrias Capital Partners:
Falfurrias Capital Partners, founded by former Bank of America Chairman and CEO Hugh McColl Jr. and former Bank of America Chief Financial Officer Marc D. Oken, is a Charlotte-based private equity investment firm focused on acquiring or investing in a diverse portfolio of middle-market companies operating in the southeastern U.S. By leveraging the extensive strategic and operational experience and business relationships of the firm's principals, Falfurrias Capital Partners is positioned to be a value-added partner for both its portfolio companies and its limited partners. For more information, visit www.falfurriascapital.com.
SOURCE Efacec ACS