news FFL Partners Completes Sale of Anova to Aurora Capital Partners

FFL Partners (“FFL”), a private equity firm focused on growth investments, today announced it has completed the sale of Anova (“the Company”), a global provider of Industrial Internet of Things (“IIoT”) solutions for remote monitoring and management of industrial assets, to Aurora Capital Partners. This successful exit reflects FFL’s commitment to delivering value to investors and portfolio companies. Terms of the private transaction were not disclosed.

Anova provides cloud‑based analytics and connected sensor technologies that give industrial suppliers real‑time visibility into remote assets⁠—⁠such as tanks, cylinders, and related equipment⁠—⁠across thousands of customer sites. The Company serves major sectors including LPG/propane, industrial gases, chemicals, fuels, lubricants, and water/wastewater. Its solutions are deployed in more than 80 countries, supporting 2,000+ customers and monitoring ~1.8 million assets globally.

“Anova is a high‑quality platform that exemplifies our approach: partner with strong management teams in sectors where we have deep expertise and help them scale,” said Greg Long, Partner at FFL Partners. “During our ownership, Anova expanded its global footprint, advanced its software and analytics capabilities, and strengthened its value proposition to customers. We greatly appreciate the team’s strong execution and wish them continued success with their new partner.”

“From day one, our work with Anova centered on building a scalable, product⁠-⁠led growth platform,” added Geoff Evans, Director at FFL Partners. “Together with the management team, we completed several strategic acquisitions and integrated a unified global software platform, transitioning from a hardware⁠-⁠centric provider to a true SaaS⁠-⁠led leader and critical partner for customers in digitizing their supply chains.”

“FFL has been an outstanding partner, bringing their deep industry expertise and operational acumen to support our growth and product innovation” said Matthew Toone, CEO of Anova. “As we enter our next phase, we’ll continue investing in our platform and product roadmap to deliver reliable, data‑driven performance for customers worldwide.”

Baird served as financial advisor and Willkie Farr & Gallagher LLP acted as legal advisor to Anova.

About FFL Partners

FFL Partners is a leading middle-market private equity firm that has been investing in high⁠⁠-⁠⁠quality companies since 1997. Based in San Francisco, FFL is a hyperspecialized, thematic investor focused on targeted areas where the firm has deep expertise and broad networks. FFL employs a proprietary sourcing and value creation strategy called the Sector Exploration and Expertise Development (“SEED”) process. The firm aims to partner with exceptional management teams and employs a high-engagement approach to accelerate growth at its businesses. FFL currently has over $6 billion of cumulative capital commitments. For additional information, please visit fflpartners.com

About Anova

Anova is connecting the industrial world for better by digitalizing the supply chains of the manufacturers and distributors of industrial gases, propane, chemicals, fuels, lubricants, and other products. Through innovation in remote telemetry analytics and technology, including tank levels, pressures and temperatures, and predictive maintenance of related industrial equipment, Anova has enabled new levels of operational insight, efficiency, and consumer experience. Anova’s cloud⁠-⁠native solutions are used in more than 80 countries around the world, providing actionable insight on over one million industrial assets and support in 12 languages. Anova is the only globally deployed company in the remote telemetry space, reflecting its long-earned trust and reliability, the breadth of asset type monitoring solutions, and its universal communication network and satellite communications support. For more information about Anova, please visit: anova.com