U.S. private equity firm Sun Capital Partners has appointed Morgan Stanley (MS.N) to sell Aclara Technologies, a provider of smart meters to almost 800 utility customers, sources familiar with the matter said.
The sale is expected to draw interest from several industry players including U.S. conglomerate Honeywell (HON.N), one of the sources said, adding the process will likely kick off after the summer.
Sun Capital, Morgan Stanley and Honeywell declined to comment. Aclara was not immediately available for comment.
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