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Hubbell Inc. (NYSE: HUBA, HUBB), Shelton, CT, has completed the acquisition of Aclara Technologies LLC, an affiliate of Sun Capital Partners Inc.
Aclara's business units will be managed under Hubbell's Power segment. Aclara offers a comprehensive suite of solutions, including advanced metering infrastructure, meters and edge devices, software, and installation services.
Hubbell financed the acquisition and related transactions with net proceeds from borrowings under a new unsecured term loan facility in the aggregate principal amount of $500 million, the issuance of 3.5 percent senior notes due 2028 in the aggregate principal amount of $450 million and issuances of commercial paper.