The strategic re-positioning of Invensys that was announced in June is well underway and with the sale of Rieth and the acquisition of UKDCS and ComTrol. The moves are another step in the process of focusing the group on the automation and controls sector.
Invensys has acquired UK Data Collection Services Ltd (UKDCS) and ComTrol which further expands the company’s position in the software and services sector.
Invensys is paying £38.5 million for UKDCS on a debt and cash free basis. During the year ended 31st March 1999 UKDCS generated operating profits of £4.0 million on sales of £20.3 million. ComTrol is being bought for £13.9 million also on a debt and cash free basis. Both acquisitions will operate within the Invensys Controls Division.
UKDCS provides a service for the collection and analysis of data for the electricity companies in the UK. The acquisition will allow Invensys to offer advanced UKDCS software to international markets as they deregulate and privatise. ComTrol is a leading North American software systems designer and manufacturer of electronic control systems for commercial refrigeration applications.
Bruce Henderson, Division Chief Executive of Invensys Controls Division said: “These acquisitions will allow us to pursue our automation and controls strategy by enhancing our position in the metering and commercial refrigeration markets.
Invensys has also signed an agreement to sell Rieth & Co. GmbH, a leading manufacturer of cable support systems to the Van Geel Group BV of The Netherlands. The sale price was £7.5 million.