Falfurrias buys ACS as an add-on

Charlotte, NC-based private equity firm Falfurrias Capital Partners has acquired Advanced Control Systems. No financial terms were disclosed. The ACS acquisition is an add-on to the firm’s North American T & D Group, which acquired Instrument Transformer Equipment Corp. last year. Based in Norcross, Georgia, ACS is a provider of utility automation systems.


CHARLOTTE, N.C. (March 5, 2014) — Falfurrias Capital Partners, a Charlotte-based private equity firm, today announced the acquisition of Advanced Control Systems (ACS), a major supplier of utility automation systems worldwide. ACS joins Instrument Transformer Equipment Corporation (ITEC) as part of North American T&D Group, formed by Falfurrias in 2013 to acquire and grow U.S.-based companies that support mission-critical elements of the electric utility grid.
Founded in 1975, Norcross, Ga.-based Advanced Control Systems manufactures and delivers 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 addition of Advanced Control Systems, like our initial investment in ITEC last year, is a significant step toward our goal of making North American T&D Group 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 North American T&D Group. “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.”
“Advanced Control Systems brings to North American T&D Group a nearly 40-year tradition of innovation that has kept us at the forefront of the evolution in the use of operational information technology to enhance the management of the power delivery asset infrastructure,” said José Barbosa, chief executive of Advanced Control Systems. “We are excited about working with Falfurrias Capital Partners and Dave’s team to build on our proud heritage and continue to help utilities upgrade the electrical grid to ensure consistent, reliable power. This new partnership will help us assure our customers the continuous improvement of our solutions and the quality of support they all deserve.”
Falfurrias Capital Partners, founded by former Bank of America chairman and CEO Hugh McColl Jr. and former Bank of America CFO Marc D. Oken, announced the formation of North American T&D Group and its investment in ITEC simultaneously in March 2013. ITEC (www.itec-ctvt.com) is a Charlotte‑based original equipment manufacturer of instrument transformer products used by electric utilities and industrial customers primarily in revenue metering and protective relaying applications.
“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 North American T&D Group 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.”
About Advanced Control Systems
ACS is a provider of smart grid solutions to the global electric power industry. The ACS software suite provides integrated distribution and outage management, simulation, optimization, and enterprise business intelligence. The company’s 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, 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.