198.46.165.39

$1.1bn-managing Sverica buys into system integration firm Control Concepts

47

Sverica Capital Management has bought into system integration firm Control Concepts.

Headquartered in New Jersey, ACC provides systems that leverage data to optimize manufacturing efficiency. It supports technology platforms from Rockwell Automation, Inductive Automation and Parsec Automation.

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.”

Sverica struck its $450m Fund V hard cap in just three months through a ‘one and done’ final close in 2019.

That raise put Fund V’s total well above the $275m Sverica collected for its fourth fund in 2016 – also a hard cap close.

Sverica said the vehicle would be used to continue its strategy of investing in companies that are, or have the potential to be, category leaders within their respective industries in technology, business services, healthcare and high-value industrial sectors.

Copyright © 2021 AltAssets

Get the latest PE News & Research delivered to your inbox every morning