Aclara acquisition
10-K - Feb 14, 2020
On February 2, 2018, the Company completed the acquisition of Aclara for approximately $1.1 billion. Aclara is a leading global provider of smart infrastructure solutions for electric, gas, and wat...
SE‑ClusterEnvironmental Services
Tear SheetSource: SEC EDGAR
Hubbell Inc.
HUBBActiveCIK 48898 · Diversified Industrial Compounders
N/A
Market data as of N/A
Financials: LTM / latest available company filings
Sources: FMP, HUBB filings, SEC EDGAR
$26,029
Market cap ($MM)
$28,266
Enterprise value ($MM)
$5,996
Revenue · LTM ($MM)
$1,442
EBITDA · LTM ($MM)
24%
EBITDA margin
4.7x
EV / revenue
19.6x
EV / EBITDA
1.4x
Net debt / EBITDA
Coverage
Coverage view
The analytical read on the name and the balance-sheet capacity behind the program.
Key points
- 01HUBB is a scaled public consolidator in Industrial Compounders, a benchmark for how the sub-sector buys, pays, and trades.
- 02The relevant peer set is ROP, DHR, HEI, EMR, TDG, AME.
Balance sheet & capacity
Indicative capacity read: 1.4x net debt / EBITDA with EBITDA of $1.4B.
$502
Cash & equiv. ($MM)
$2,571
Total debt ($MM)
$2,069
Net debt ($MM)
1.4x
Net debt / EBITDA
Valuation
Where it trades against its peer set
HUBB versus the scaled public Diversified Industrial Compounders comparables.
Indexed share-price performance
HUBB versus available Diversified Industrial Compounders peers and SPY.
+151%
HUBB
N/A
Peer med.
+79%
SPY
Indexed to 100 from May 28, 2021 through May 26, 2026. Source: FMP month-end close history.
| Company | Ticker | Revenue ($MM) | EBITDA ($MM) | Margin | Market cap ($MM) | EV ($MM) | EV / rev | EV / EBITDA | Net debt / EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| Hubbell Inc. | HUBB | $5,996 | $1,442 | 24% | $26,029 | $28,266 | 4.7x | 19.6x | 1.4x |
Financials via Financial Modeling Prep (SEC-derived TTM). EV/EBITDA distribution: each dot a live peer, band = interquartile range, line = median. Impossible values (EBITDA > revenue, negative-EBITDA multiples) shown NM.
M&A program
A sustained, programmatic tuck-in cadence
HUBB's disclosed acquisition footprint and the deals behind it.
Disclosed acquisitions
79
Active years
18
Named deals
2
Avg / active year
4.4
Acq. cash outflow ($MM)
N/A
Banker read
- 01HUBB reads as a programmatic acquirer: 79 disclosed acquisitions across 18 active years, or 4.4 per active year. The chart shows activity in 12 of the last 12 visible years.
- 02In the last three years, the file shows 9 acquisitions versus 8 in the prior three; recent activity is broadly steady versus the prior three-year period.
- 03Spend changes the read: $5.9B of disclosed spend is concentrated in lumpy years, with FY23 the largest year at $1.2B. Recent spend is above the prior three-year period.
Annual acquisitions + disclosed spend
count spend named deal
HUBB count bars show acquisition cadence; the spend line shows when the program required larger capital deployment.
Program diagnostics
Recent / prior
9 / 8
Last three years is broadly steady vs prior three.
Peak count year
FY14
7 disclosed acquisitions in the peak visible year.
Recent spend
$2.3B
is up 64% vs prior three; peak FY23 at $1.2B.
Named evidence
2 rows
2.5% selected source-cited transaction coverage.
Selected transactions
| Date | Target | Segment | Consideration ($MM) | Strategic rationale | Source |
|---|---|---|---|---|---|
| Feb 2, 2018 | Aclara | Diversified industrial compounders | $1,116 | On February 2, 2018, the Company completed the acquisition of Aclara for approximately $1.1 billion. Aclara is a leading global provider of smart infrastructure solutions for el... | 10-K† |
| Dec 31, 2009 | Burndy | Diversified industrial compounders | $355 | for $355.2 million in cash (net of cash acquired). Burndy, headquartered in Manchester, New Hampshire, is a leading North American manufacturer of connectors, cable accessories... | 10-K† |
Acquisitions disclosed/extracted from SEC filings; not necessarily full M&A history. Disclosed acquisition cash outflow is cumulative "payments for acquisitions, net of cash acquired" from the 10-K cash-flow statements (a cash outflow, not deal value). Built on 4 SEC-backed facts across 2 cited filings.
Evidence
Source archive
A collapsed investigation trail for the SEC filings behind the financials, annual M&A cadence, named transactions, and management language.
Annual 10-Ks
23
Named deal filings
2
Recent SEC filings
0
Evidence clips
2
Annual 10-K M&A evidenceAccepted annual filings used for disclosed acquisition count and spend.23 rows+-
| Fiscal year | Filing date | Form | Status | Count | Cash spend | Purchase consideration | Source |
|---|---|---|---|---|---|---|---|
| FY2025 | Feb 12, 2026 | Annual M&A 10-K | quarantined (1 issue) | 3 | $958MM | $958MM | SEC filing |
| FY2024 | Feb 13, 2025 | Annual M&A 10-K | warning (1 warn) | N/A | $5.9MM | N/A | SEC filing |
| FY2023 | Feb 8, 2024 | Annual M&A 10-K | accepted | 3 | $1.2B | $1.2B | SEC filing |
| FY2022 | Feb 9, 2023 | Annual M&A 10-K | accepted | 3 | $177MM | $177MM | SEC filing |
| FY2021 | Feb 11, 2022 | Annual M&A 10-K | accepted | N/A | $0.1MM | $238MM | SEC filing |
| FY2020 | Feb 11, 2021 | Annual M&A 10-K | accepted | 4 | $240MM | $238MM | SEC filing |
| FY2019 | Feb 14, 2020 | Annual M&A 10-K | quarantined (1 issue) | 3 | $70.8MM | $69.3MM | SEC filing |
| FY2018 | Feb 15, 2019 | Annual M&A 10-K | accepted | 1 | $1.1B | $1.1B | SEC filing |
| FY2017 | Feb 15, 2018 | Annual M&A 10-K | accepted | 4 | $184MM | $172MM | SEC filing |
| FY2016 | Feb 16, 2017 | Annual M&A 10-K | accepted | 3 | $173MM | $185MM | SEC filing |
| FY2015 | Feb 18, 2016 | Annual M&A 10-K | quarantined (1 issue) | 4 | $163MM | $163MM | SEC filing |
| FY2014 | Feb 19, 2015 | Annual M&A 10-K | accepted | 7 | $184MM | $184MM | SEC filing |
| FY2013 | Feb 18, 2014 | Annual M&A 10-K | accepted | 3 | $96.5MM | $96.5MM | SEC filing |
| FY2012 | Feb 13, 2013 | Annual M&A 10-K | accepted | 4 | $90.7MM | $90.7MM | SEC filing |
| FY2011 | Feb 15, 2012 | Annual M&A 10-K | accepted | 2 | $29.6MM | $29.6MM | SEC filing |
| FY2010 | Feb 16, 2011 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2009 | Feb 19, 2010 | Annual M&A 10-K | warning (1 warn) | N/A | $356MM | N/A | SEC filing |
| FY2008 | Feb 20, 2009 | Annual M&A 10-K | quarantined (1 issue) | 7 | $306MM | $267MM | SEC filing |
| FY2007 | Feb 25, 2008 | Annual M&A 10-K | accepted | 2 | $52.9MM | $52.1MM | SEC filing |
| FY2006 | Feb 27, 2007 | Annual M&A 10-K | accepted | 2 | $146MM | $146MM | SEC filing |
| FY2005 | Mar 8, 2006 | Annual M&A 10-K | accepted | 5 | $54.3MM | $54.3MM | SEC filing |
| FY2004 | Mar 9, 2005 | Annual M&A 10-K | accepted | N/A | N/A | N/A | SEC filing |
| FY2003 | Mar 5, 2004 | Annual M&A 10-K | accepted | 0 | N/A | N/A | SEC filing |
Named transaction source filingsFilings behind selected named-deal rows and transaction excerpts.2 rows+-
| Filing date | Form | Targets / topics | Support | Source |
|---|---|---|---|---|
| Feb 14, 2020 | 10-K | Aclara | Annual M&ANamed deals | SEC filing |
| Feb 19, 2010 | 10-K | Burndy | Annual M&ANamed deals | SEC filing |
Recent SEC filingsThe latest profile filings, kept separate so someone can investigate beyond M&A.0 rows+-
No filing source clears this category.
Evidence clipsShort excerpts used on the page; expand only when you want the language.2 rows+-
Medium
Burndy
10-K - Feb 19, 2010
for $355.2 million in cash (net of cash acquired). Burndy, headquartered in Manchester, New Hampshire, is a leading North American manufacturer of connectors, cable accessories and tooling. Burndy’...
Annual M&A counts and disclosed spend are extracted from SEC acquisition disclosures and cash-flow statements; named-deal rows carry direct filing links where the filing identifies the target or consideration.