Wednesday, March 5, 2014

Falfurrias Capital buys utility services company

Charlotte private equity firm Falfurrias Capital Partners said Wednesday that it has bought a utility services company as it continues to expand in the electric transmission and distribution industry.

The firm acquired Advanced Control Systems, a Norcross, Ga. company that builds and distributes electric management and control systems.

It will be combined with Charlotte-based Instrument Transformer Equipment Corp., which Falfurrias acquired last year, in the private equity firm's growing North American T&D Group. The name refers to transmission and distribution.

Terms of the deal were not disclosed.

Falfurrias was founded by former Bank of America CEO Hugh McColl and former Chief Financial Officer Mark Oken.

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Anonymous said...

Does Falfurrias take these companies they acquire and assemble public or is their goal to they sell them to larger industry players?