West Palm Beach, Fla. – Comvest Partners (“Comvest”), a middle-market private investment firm, is pleased to announce the execution of a definitive agreement to sell Systems Control (the “Company”) to Hubbell Incorporated (NYSE: HUBB), a leading manufacturer of utility and electrical solutions. Systems Control has been a portfolio company in Comvest’s private equity strategy since 2018. The transaction is expected to close by the end of the year.

Founded in 1962 and headquartered in Iron Mountain, Mich., Systems Control is a leading manufacturer of substation control and relay panels as well as turnkey substation control building solutions for the electric transmission and distribution industry. The Company’s highly engineered offerings are mission-critical to grid reliability, enabling utility customers to protect and control substation infrastructure while detecting faults and controlling the flow of electricity.

“Comvest invested in Systems Control in partnership with management with a shared vision of scaling the Company as a best-in-class turnkey provider of end-to-end substation control solutions. We are proud of the great relationship we built with the Systems Control team and the successes we achieved together,” said Kenny Nickens, a Vice President at Comvest.

“This successful outcome highlights Comvest’s expertise in helping companies achieve their growth objectives as well as our investment leadership in the infrastructure services space. We are excited for the Company’s future as part of Hubbell,” added Maneesh Chawla, a Managing Partner at Comvest.

Brad Lebouef, Chief Executive Officer at Systems Control, said, “Comvest supported Systems Control’s vision for growth throughout our partnership, providing both capital and invaluable support key to the achievement of our desired growth milestones. We are appreciative of Comvest’s stewardship and look forward to our next chapter with the terrific team at Hubbell.”

Harris Williams LLC and Lincoln International LLC are serving as financial advisors to Systems Control, and McDermott Will & Emery LLP is serving as legal advisor. Morgan Stanley & Co. LLC is serving as financial advisor to Hubbell, and Wachtell, Lipton, Rosen & Katz is serving as legal advisor.

About Systems Control

Systems Control specializes in engineering and manufacturing of equipment enclosures and control and relay panels used in electrical transmission and distribution substations across North America. The Company’s manufacturing operations are located in Iron Mountain, Michigan.  For more information, please visit www.systemscontrol.com.

About Hubbell

Hubbell Incorporated is a leading manufacturer of utility and electrical solutions enabling customers to operate critical infrastructure safely, reliably and efficiently. With 2022 revenues of $4.9 billion, Hubbell solutions electrify economies and energize communities. The corporate headquarters is located in Shelton, Conn. For more information, please visit www.hubbell.com.

About Comvest Partners

Comvest is an operationally focused private investment firm that has provided equity and debt capital to well-positioned middle-market companies throughout North America since 2000. Through its private equity, direct lending and special opportunities investment platforms, Comvest offers tailored investment solutions across the capital structure, deep industry and operating expertise, a collaborative approach, and significant transaction experience as an active investor. Today, Comvest manages more than $9.5 billion in assets, and has invested over $11.7 billion since inception. Based in West Palm Beach, Comvest also maintains offices in Chicago and New York. For more information, please visit www.comvest.com.