Deal Details

Anova Is Acquired by Aurora

Industrial

Anova, a portfolio company of FFL, sale to Aurora

Summary

Anova (the "Company”), a portfolio company of FFL Partners (“FFL”), has been acquired by Aurora Capital Partners (“Aurora”). Terms of the transaction were not disclosed.

Baird served as exclusive financial advisor to Anova on this transaction.

About

Anova is a leading global provider of Industrial Internet of Things ("IIoT") solutions to remotely monitor and manage industrial assets for the industrial gas, propane, fuels, lubricants and chemicals industries. Anova's solutions monitor the location, status and condition of industrial equipment and include proprietary hardware, managed connectivity services and a cloud-based software platform with modules for forecasting, scheduling, routing, data analytics and business intelligence. The Company's solutions allow its customers to more productively manage their assets, reduce costs and improve equipment reliability. Through innovation in remote telemetry analytics and technology, including tank levels, pressures and temperatures and predictive maintenance of related industrial equipment, Anova has enabled new levels of operational insight, efficiency and consumer experience. Anova's cloud-native solutions monitor more than 1.8 million industrial assets for over 2,000 customers in more than 80 countries and support in 12 languages. Anova is the only globally deployed company in the remote telemetry space, reflecting its long-earned trust and reliability, the breadth of asset type monitoring solutions and its universal communication network and satellite communications support. Anova is headquartered in New Providence, New Jersey.

FFL Partners is a leading middle-market private equity firm that has been investing in high-quality companies since 1997. FFL is a hyperspecialized thematic investor focused on targeted areas where the firm has deep expertise and broad networks. FFL employs a proprietary sourcing and value creation strategy called the Sector Exploration and Expertise Development (“SEED”) process. FFL aims to partner with exceptional management teams and employs a high-engagement approach to accelerate growth at its businesses. FFL currently has over $6 billion of cumulative capital commitments. FFL is headquartered in San Francisco, California.

Aurora Capital Partners is a leading private equity firm with $6 billion in assets under management. Founded in 1991, Aurora builds extraordinary middle-market companies alongside extraordinary management teams. The firm targets platforms with leading market positions, stable industry dynamics, attractive business model characteristics and actionable opportunities for growth in partnership with management. Aurora is headquartered in Los Angeles, California.

Industrial

Anova, a portfolio company of FFL, sale to Aurora