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ESCO Technologies Inc announces agreement to Divest Aclara Technologies LLC

Monday, 17 Mar 2014 08:15am EDT 

ESCO Technologies Inc:Signs an agreement to divest Aclara Technologies LLC to an affiliate of Sun Capital Partners, Inc.Gross cash proceeds from the transaction are expected to be about $150 mln.Cash proceeds comprised of a $130 mln purchase price plus about $20 million in cash related to specific Aclara receivables retained by ESCO.Sale is expected to close in March 2014.Stephens Inc. acted as the exclusive financial advisor to ESCO on this transaction.Bryan Cave LLP served as its legal advisor. 

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