Ace Controls Joins Blackford's PACIV Platform for Industrial Automation Expansion
Deal News | Jan 27, 2025 | Blackford Capital
Blackford Capital, a key player in the lower middle market private equity sector, has acquired Ace Controls of Houston, Texas, thereby expanding its PACIV platform into the water and wastewater industries. This acquisition is Blackford's third add-on for PACIV since June 2023, strengthening its industrial automation capabilities, previously focused on healthcare and life sciences. Ace Controls, led by President Agmed Aguirre since its founding in 2005, is recognized for its high-quality industrial control panels and boasts a 95% repeat business rate. The move extends PACIV's geographic presence into Texas and aligns with Blackford's strategy to create a multi-dimensional industrial enterprise. Financial and legal advisory roles in the transaction were filled by several firms, including Generational Group and Lancaster | Helling for Ace Controls, and Varnum LLP and RSM US LLP for Blackford and PACIV.
Sectors
- Industrial Automation
- Water and Wastewater
- Private Equity
Geography
- United States – Both Blackford Capital and Ace Controls are headquartered in the U.S., and the acquisition expands PACIV's presence into Texas.
- Puerto Rico – PACIV, the platform under which Ace Controls was acquired, is headquartered in San Juan, Puerto Rico.
Industry
- Industrial Automation – The acquisition is central to Blackford Capital's strategy of building out its industrial automation capabilities through PACIV.
- Water and Wastewater – Ace Controls specializes in building control panels for the water and wastewater industry, making it a significant part of its clientele.
- Private Equity – Blackford Capital operates as a private equity firm, acquiring businesses like Ace Controls to enhance its investment portfolio.
Financials
- Not Disclosed – Terms of the acquisition deal between Blackford Capital and Ace Controls.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackford Capital | Acquirer | Company | A private equity firm focused on acquiring and managing lower middle-market companies. |
| Ace Controls | Target company | Company | A Houston-based company specializing in industrial control panels, particularly for the water and wastewater industries. |
| PACIV | Platform | Company | Blackford Capital's industrial automation platform, which is expanding through acquisitions like Ace Controls. |
| Generational Group | Financial Advisor | Company | Served as the exclusive financial advisor to Ace Controls. |
| Lancaster | Helling | Legal Advisor | Company | Provided legal advisory services to Ace Controls. |
| Varnum LLP | Legal Advisor | Company | Provided legal advisory services to Blackford Capital and PACIV. |
| RSM US LLP | Financial and Tax Advisor | Company | Provided financial and tax advisory services to Blackford Capital and PACIV. |
| Mercantile Bank | Debt Financing | Company | Provided debt financing for the acquisition. |
| Rush Street Capital | Financing Advisory | Company | Provided financing advisory services for the transaction. |
| Agmed Aguirre | President of Ace Controls | Person | Founded Ace Controls in 2005 and has led the company to become an industry leader. |
| Martin Stein | Founder and Managing Director of Blackford Capital | Person | Oversees the firm's investment strategies and acquisitions. |
| Jeff Johnson | Managing Director and Chairman of the Board of PACIV | Person | Oversees the integration and expansion of PACIV's platform. |