Falfurrias Capital Partners, a Charlotte-based private equity firm focused on investing in growth-oriented, middle-market businesses, announced that portfolio company E-Technologies Group has closed its acquisition of Superior Controls Inc.
Superior Controls, founded in 1993 and based in Seabrook, New Hampshire, is a leading provider of automation and control systems integration services to the life sciences industry. Superior Controls serves blue-chip biotech and pharmaceutical manufacturers across the U.S. with more than 135 engineers and other professionals, most in close proximity to the nation’s life sciences hubs on the Eastern Seaboard and West Coast.
Superior Controls co-founder and president Rick Pierro will become president of ETech’s life sciences solutions vertical, which will go to market under the Superior Controls name. Pierro will report to ETech CEO Ralph Carter and will also join the ETech board.
“Superior Controls is the largest pure-play provider of systems integration services to the life sciences market and represents another significant step in ETech’s goal of building a national platform in the automation space,” said Marc Oken, Chairman of Falfurrias Capital Partners. “We believe ETech’s potential is significant given secular trends such as the rapid adoption of automation technology across industries and robust growth in the life sciences vertical, and we look forward to working with Ralph and Rick to leverage opportunities for organic and inorganic growth.”
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With the addition of Superior Controls, West Chester, Ohio-based ETech becomes one of the nation’s leading providers of automation software and systems integration and engineering design services with more than 400 employees, including approximately 350 engineers and project professionals. ETech, acquired by Falfurrias Capital Partners in early 2018, made its first add-on investment in October 2018 with its acquisition of Glenmount Global Solutions. ETech now services customers across several attractive end markets, including life sciences, data centers, parcel, metals and consumer packaged goods, among others.
“The addition of Superior Controls significantly expands the breadth and depth of E-Technologies’ engineering talent and capabilities as well as our ability to serve customers regardless of where they are located and whenever their needs arise,” said Carter. “We are thrilled to welcome Rick and Superior Controls to the E-Technologies team.”
“I’m proud of the leadership position Superior Controls has established in the life sciences market over the past 25 years and credit the entire team for the hard work that made it possible,” said Pierro. “I’m excited to join Ralph and the E-Technologies team and believe Superior Controls will be able to provide even more value for our customers as part of the broader industrial automation platform we are building together.”
Date: April 22, 2019
Source: Cision
