FFL Partners Affiliate Laurel Solutions Completes Investment in Servelec Technologies

SAN FRANCISCO – March 14, 2019 – FFL Partners (“FFL”), a private equity firm focused on growth investments in middle market companies, today announced that its affiliate, Laurel Solutions, has completed the acquisition of Servelec Technologies, (“the Company”), a market-leading provider of remote monitoring systems, secure SCADA systems, and business optimization software providing complete end-to-end automation and optimization solutions to clients around the world. Terms of the private transaction were not disclosed.

Servelec Technologies is headquartered in Sheffield, UK with offices in Melbourne, Australia, Waterloo, Belgium, Calgary, Canada and Abu Dhabi, United Arab Emirates. For more than 40 years, the Company’s hardware and software products, systems, and consultancy services have been trusted by the world’s leading companies across sectors such as water & wastewater management, oil & gas, transportation, communications & broadcast, and energy. Servelec Technologies delivers efficiency savings to customers by creating systems that collect, communicate, and exploit data.

“Servelec Technologies is a leading provider of connected remote monitoring and control solutions, helping clients and industries to realize their digital futures, and our investment further builds out our leading portfolio in remote asset monitoring and control,” said Martin Carter, CEO of Laurel Solutions. “We are excited to partner with Servelec Technologies’ highly-talented management team, and plan significant investment in innovative products and solutions that will enhance the Company’s already outstanding offerings.”

Servelec Technologies serves a growing multi-billion dollar market across the water, energy, transport, and infrastructure sectors which is driven by favorable regulatory, environmental, and efficiency tailwinds.

“We’re thrilled to have the backing of Laurel Solutions as we start a new chapter as a standalone business,” said David Frost, Managing Director at Servelec Technologies. “Laurel brings not only the technical knowledge, but the business operations experience and capital resources that will be instrumental in our success and future growth.”

“Servelec Technologies’ IIOT enablement technologies make it a great fit for Laurel Solutions and strengthens Laurel’s position as a leader in industrial automation and monitoring,” added Greg Long, Partner at FFL.

Other businesses in Laurel Solutions’ portfolio include DataOnline, a provider of remote data collection for industrial assets; Bacharach, a designer and manufacturer of high-quality gas test and measurement instrumentation for commercial refrigeration and HVAC equipment; and Neutronics a world-class provider of refrigerant and gas analyzers.

About FFL Partners
FFL Partners is a San Francisco-based private equity firm with over $4.5 billion under management. For over twenty years, the firm has helped build industry-leading companies, providing capital and advice to exceptional management teams to grow businesses and unlock value. FFL has deep experience in investing and operations, and has brought large-company best practices and professional networks to smaller companies. Business growth has provided over 75% of the value created by FFL for its investors. FFL invests in business services, industrials, consumer products and services, financial services, and healthcare services. For additional information about FFL, please visit FFL's website at www.fflpartners.com.

About Laurel Solutions
Laurel Solutions works with leading businesses to grow the smart use and development of industrial technology. Its companies provide commercial and industrial hardware, software, and connectivity solutions that improve productivity, safety, and environmental performance. Laurel Solutions is backed by FFL Partners, allowing it to draw on the resources of a renowned private equity firm while maintaining the nimbleness of a startup. For additional information, www.laurelsolutions.com