Acuity buys May River-backed Parameter Technologies for $675 million

Acuity Inc. agreed to acquire Parameter Technologies, a Fort Collins-based developer of monitoring and detection systems for data centers, utilities and critical infrastructure, for $675 million. The companies announced the deal Monday but gave differing closing timelines: Parameter said late 2026, while Acuity said the second quarter of 2027.

Parameter will become part of Distech Controls within Acuity's Intelligent Spaces segment. Parameter was formed in December 2024 when May River Capital, which acquired RLE Technologies in 2023, merged it with NDSL Group. May River is the seller.

Acuity expects Parameter to generate about $100 million in sales for calendar 2027 at roughly 40% EBITDA margins, and plans to fund the purchase with $500 million of borrowed money plus cash on its balance sheet. Parameter CEO Michael Blazes and Acuity president Peter Han cited complementary sensing and controls technology.