PITTSBURGH, November 9, 2015: Morgan Lewis is representing smart infrastructure technologies global supplier Aclara Technologies, a portfolio company of Sun Capital Partners, in the acquisition by Aclara’s affiliate of the electricity meters business currently operating within GE Energy Management’s Grid Solutions subdivision (“GE Meters”).
The transaction is expected to close by the end of the year subject to standard conditions, regulatory approvals, consultation processes with employees as applicable, and completion of business processes satisfactory to both parties. Terms of the transaction were not disclosed. Aclara will acquire more than 300 employees along with GE Meters’ global headquarters in Somersworth, New Hampshire, a satellite manufacturing facility in Chicago, Illinois and a center of excellence in Bilbao, Spain focused on the rapidly growing international regions in addition to a significant intellectual property portfolio of active patents and patent applications.
The Morgan Lewis team advising on the acquisition was led by partner Kimberly Taylor and associate Mark Opitz. Support was provided by partners Doneld Shelkey, Louis Beardell, Anita Polott, John Zele, John Ferreira, Judith Walkoff, Harry Robins, Kenneth Kail, Ross Friedman and Pulina Whitaker; of counsel Lisa Campisi; and associates Benjamin Klaber, Michael Ryan, Daniel Marks, Gene Park, Matthew Chapman, Greta Burkholder, Katerina Heal, and Rita Srivastava.
Read Aclara’s press release here.