ATLANTA, Oct. 25, 2007 (PRIME NEWSWIRE) -- Group EFACEC, a leading supplier of automation systems and infrastructure solutions to the global energy and transport sectors, announced today that it has acquired Atlanta-based Advanced Control Systems, Inc. (ACS) for undisclosed terms.
Founded in Portugal in 1948, EFACEC employs over 2,500 people, with a presence in more than 60 countries and annual revenue in excess US $600 million. EFACEC will leverage the acquisition of ACS as one part of a strategic growth plan for the North American market.
Founded by retiring CEO John Muench in 1975, ACS has grown into a leading provider of smart grid automation solutions to the electric power industry. ACS has over 250 utility customers worldwide. EFACEC will operate ACS as a wholly-owned U.S. subsidiary, with headquarters remaining at the current location in Norcross, GA. Mr. Muench will serve as an advisor and consultant to EFACEC.
Newly appointed ACS chief executive officer Jose Barbosa said, "ACS has built a well-deserved reputation as an innovator and a reliable partner to utilities for over three decades. EFACEC will build upon this history of success as we expand ACS' range of products and services and increase distribution worldwide. Together, ACS and EFACEC will launch new products and expand services to meet the needs of a rapidly growing smart grid marketplace."
Prior to the acquisition of ACS, Group EFACEC already counted several leading North American investor-owned utilities among its customers, including Florida Power and Light, Pacific Gas & Electric Company, Southern Company and Duke Energy. Major U.S. utility customers of both ACS and EFACEC include Nevada Power and NSTAR.
ACS founder John Muench said, "ACS customers and employees, many of whom I have worked with for more than 30 years, are collectively some of the best and brightest people in the utility automation community. Together, we have built a truly great company. Backed with EFACEC's resources, technology and its commitment to customers, I'm confident that ACS will continue to thrive as a leading solution provider and utility partner for decades to come."
ACS was advised in the transaction by FOCUS Investment Banking and Thompson Hine LLP. EFACEC was advised by King & Spalding LLP.
About Advanced Control Systems:
Advanced Control Systems, an EFACEC company, is a provider of smart grid solutions to the global electric power industry. The ACS software suite provides integrated distribution and outage management, simulation, optimization, and enterprise business intelligence. ACS automation products include a wide range of flexible and cost-effective substation, distribution, and feeder automation solutions. ACS is powering the utility of the future -- today. For more information, visit www.acsatlanta.com.
The Advanced Control Systems, Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=4180
About EFACEC:
Founded in Portugal in 1948, EFACEC is a leading global supplier of automation systems and infrastructure solutions to the global energy and transport sectors. EFACEC has over 2,500 employees, with operations throughout Europe, the Americas, Africa and Asia. For more information, visit www.efacec.pt.