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An affiliate of private equity investor Sun Capital Partners Inc. has entered into a definitive agreement to acquire Aclara Technologies LLC, a provider of advanced metering infrastructure solutions, from ESCO Technologies Inc.

Under the agreement, Aclara will become an independent business. ESCO reports that the gross cash proceeds from the transaction are expected to be approximately $150 million, comprising the $130 million purchase price plus approximately $20 million in cash related to specific Aclara receivables retained by ESCO.

The sale, ESCO notes, is expected to close in this month, subject to customary closing conditions and the satisfaction of regulatory requirements.

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