FFL Partners (FFL), a private equity firm focused on growth investments in middle market companies, has announced that its affiliate, Laurel Solutions, has completed the acquisition of Servelec Technologies, a provider of remote monitoring systems, secure SCADA systems, and business optimization software providing complete end-to end automation and optimization solutions to clients around the world. Terms of the private transaction were not disclosed.
Servelec Technologies is headquartered in Sheffield, UK with offices in Melbourne, Australia, Waterloo, Belgium, Calgary, Canada and Abu Dhabi, United Arab Emirates. For more than 40 years, the Company’s hardware and software products, systems, and consultancy services have been trusted by the world’s leading companies across sectors such as water & wastewater management, oil & gas, transportation, communications & broadcast, and energy. Servelec Technologies delivers efficiency savings to customers by creating systems that collect, communicate, and exploit data.
“Servelec Technologies is a leading provider of connected remote monitoring and control solutions, helping clients and industries to realize their digital futures, and our investment further builds out our leading portfolio in remote asset monitoring and control,” said Martin Carter, CEO of Laurel Solutions. “We are excited to partner with Servelec Technologies’ highly-talented management team, and plan significant investment in innovative products and solutions that will enhance the Company’s already outstanding offerings.”
Servelec Technologies serves a growing multi-billion dollar market across the water, energy, transport, and infrastructure sectors which is driven by favorable regulatory, environmental, and efficiency tailwinds.
“We’re thrilled to have the backing of Laurel Solutions as we start a new chapter as a standalone business,” said David Frost, Managing Director at Servelec Technologies. “Laurel brings not only the technical knowledge, but the business operations experience and capital resources that will be instrumental in our success and future growth.”
“Servelec Technologies’ IIOT enablement technologies make it a great fit for Laurel Solutions and strengthens Laurel’s position as a leader in industrial automation and monitoring,” added Greg Long, Partner at FFL.
Other businesses in Laurel Solutions’ portfolio include DataOnline, a provider of remote data collection for industrial assets; Bacharach, a designer and manufacturer of high-quality gas test and measurement instrumentation for commercial refrigeration and HVAC equipment; and Neutronics a world-class provider of refrigerant and gas analyzers.