For the second time in five years, ownership of a major Dickinson County employer will change hands.

Comvest Partners on Wednesday announced the sale of Systems Control to Hubbell Inc., a leading utility and electrical manufacturer. Comvest, a private investment firm based in West Palm Beach, Fla., had acquired Systems Control in March 2018.

In October, Hubbell had announced plans to acquire Northern Star Holdings Inc., commercially known as Systems Control, for $1.1 billion in cash. The company said it planned to finance the transaction with a combination of cash on hand and debt. At that time, Systems Control estimated 2024 sales of approximately $400 million.

Hubbell, based in Shelton, Conn., is an international manufacturer of electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. It reported 2022 revenues of $4.9 billion.

Systems Control specializes in the 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 based in Iron Mountain, where about 750 people are employed in a 400,000-square-foot facility.

Brad Lebouef, CEO at Systems Control, said further growth is anticipated at Iron Mountain, which has had three expansions since 2015.

“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,” Lebouef said in a news release. “We are appreciative of Comvest’s stewardship and look forward to our next chapter with the terrific team at Hubbell.”

Founded in 1962, Systems Control is at 3201 E. Industrial Drive on Iron Mountain’s north side

Since Comvest’s 2018 acquisition of the company, Systems Control has expanded its state-of-the art manufacturing facility, developed multi-site production capabilities, and made substantial investments in information technology systems, human capital development, and sales and marketing, the news release stated. System Control’s products protect and control substation infrastructure while detecting faults and controlling the flow of electricity.

“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,” said Maneesh Chawla, a managing partner at Comvest.

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

Based in West Palm Beach, Fla., Comvest also maintains offices in Chicago and New York. It manages more than $9.9 billion in assets, and has invested over $11.7 billion since inception.