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December 14, 2023

Hubbell finalizes acquisition of Systems Control

PHOTO | CONTRIBUTED Gerben W. Bakker, chairman, president and CEO of Hubbell

Shelton-based manufacturer Hubbell Inc. announced Tuesday it has completed its acquisition of Northern Star Holdings Inc., which is known commercially as Systems Control.

In late October, Hubbell indicated it planned to acquire the company for $1.1 billion.

Systems Control is a Michigan-based manufacturer of substation control and relay panels, which anticipates 2024 sales of about $400 million. It is a portfolio company of Comvest Partners.

According to Hubbell, Systems Control’s offerings are key to grid reliability, enabling utility customers to protect and control substation infrastructure while detecting faults and controlling the flow of electricity.

Hubbell said it financed the deal with net proceeds from borrowings under a new unsecured term $600 million loan facility, cash on hand, and with commercial paper issuances.

Hubbell, which reported $4.9 billion in 2022 revenues, manufactures utility and electrical products, such as cables, connectors, grounding equipment and utility sensors and controls. According to Hubbell, it anticipates this acquisition will boost its utility portfolio.

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