Houlihan Lokey Advises Aurora Capital Partners

Houlihan Lokey is pleased to announce that Aurora Capital Partners (Aurora) has acquired Anova, a portfolio company of FFL Partners. The transaction closed on January 20, 2026.

Houlihan Lokey served as the exclusive financial buyside advisor to Aurora. This transaction builds on Houlihan Lokey’s successes and expertise in industrial technologies and remote monitoring transactions.

Aurora, founded in 1991, is a Los Angeles-based, middle-market private equity investment firm with approximately $6 billion in assets under management. The firm targets platforms with leading market positions, stable industry dynamics, attractive business model characteristics, and actionable opportunities for growth in partnership with management.

Anova, headquartered in New Providence, New Jersey, is the leading global provider of industrial internet of things (IIoT) solutions to remotely monitor and manage industrial assets for the industrial gas, propane, fuels, lubricants, and chemicals industries. 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. 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. The company’s solutions allow its 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.

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