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 U.S.-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 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.
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.