Aurora Capital Partners acquires Anova

January 22, 2026 By Brian Richesson 0 Comments

Aurora Capital Partners, a middle-market private equity firm, acquired Anova, a global provider of industrial Internet of Things solutions to remotely monitor and manage industrial assets for the industrial gas, propane, fuels, lubricants and chemicals industries. Terms of the transaction were not disclosed.

Anova’s solutions monitor the location, status and condition of industrial equipment and include proprietary hardware, managed connectivity services and a cloud-based software platform with modules for forecasting, scheduling, routing, data analytics and business intelligence. The company says its solutions allow customers to more productively manage their assets, reduce costs and improve equipment reliability. Anova monitors more than 1.8 million assets for over 2,000 customers in more than 80 countries.

”Anova is a unique business that is critical to the performance of its customers’ industrial assets,” says Randy Moser, partner at Aurora. “The company’s advanced asset monitoring solutions and deep domain expertise provide critical insights and operational advantages to its customers. As more customers adopt data-driven solutions to optimize their operations, we believe there is significant opportunity to support Anova’s global growth.”

Matthew Toone, CEO of Anova, adds, “We are thrilled to partner with Aurora as we continue to build on the significant growth and momentum that our team has achieved over the last several years. Aurora’s experience in scaling technology-enabled industrial businesses and its commitment to investing for long-term growth make them Anova’s ideal partner as we look to accelerate customer adoption and product innovation as well as further our international expansion.”

Aurora’s experience in Anova’s core markets positions the firm to accelerate the company’s growth, according to Bryant Yung, managing director at Aurora.

“We are also excited to support Anova’s add-on acquisition program as we broaden the company’s reach into new end markets, applications and technologies,” he says.

Baird served as financial adviser and Willkie Farr & Gallagher LLP acted as legal adviser to Anova. Houlihan Lokey served as financial adviser and Gibson, Dunn & Crutcher LLP acted as legal adviser to Aurora. Golub Capital arranged the debt financing for the transaction.

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