BOSTON, October 27, 2021--(BUSINESS WIRE)--Sverica Capital Management LP ("Sverica"), a private equity investment firm, today announced that on October 22 it acquired a majority position in Automated Control Concepts, LLC ("ACC" or the "Company"), a systems integrator specializing in process control, manufacturing intelligence and cyber security & industrial networking.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211027005045/en/
Headquartered in Neptune, NJ, ACC is a leading ‘Industry 4.0’ solutions provider, focused primarily on systems that leverage data to optimize manufacturing efficiency. ACC supports technology platforms from Rockwell Automation, Inductive Automation and Parsec Automation (among others), and is a Tier 1 accredited partner for each vendor. ACC’s expertise is in process automation with deep specialization in the life sciences sector.
The transaction marks a milestone for ACC, facilitating a hand-off from Robert Tomasetta, who founded the Company in 1983. Michael Blechman, shareholder and CEO, stated, "We are proud to have grown ACC to a point where it attracted the interest of a firm like Sverica. The management team looks forward to working with our new capital partner to take ACC to new heights, building upon the foundation of excellence we developed as a provider of technology solutions and products for manufacturing and infrastructure clients." Kevin Hannigan, President of ACC added, "Having a growth-oriented firm like Sverica as an investor creates a tremendous ability for us to pursue new strategic business areas and provides additional opportunities for our dedicated ACC team members."
Dave Finley, Managing Partner at Sverica said, "We are excited to partner with the ACC team to facilitate the company reaching its full potential. ACC is a high-achieving, high-quality operation with the opportunity to become a leader within an attractive market." Greg Hylant, Vice President at Sverica added, "What struck us early on in our diligence was the sky-high Net Promoter Score ACC received from its clients, indicating a superior service organization that could be grown into a market-leading provider of Industry 4.0 solutions, with a focus on the life science sector."
About Automated Control Concepts
Established in 1983, Automated Control Concepts, Inc. helps businesses improve the efficiency, quality and compliance of their manufacturing operations through the strategic use of technology. As an independent systems integration firm specializing in process automation and manufacturing intelligence, ACC provides solutions from initial requirements definition and system design through the implementation and commissioning of plant-wide automation and manufacturing execution systems. ACC delivers solutions to manufacturers in a variety of industries, including life sciences, infrastructure and food & beverage. ACC also offers two proprietary software products focused on life sciences – Lab Owl® bioreactor control system and TruTraq® environmental condition monitoring.
For more information, please visit https://automated-control.com/.
About Sverica Capital Management
Sverica Capital Management is a leading growth oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a "business builder" approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant internal time and resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors.
For more information, please visit https://sverica.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005045/en/
Sverica Capital Management LP