The UK’s largest independent systems integrator, Dickinson Control Systems, has been sold by Brunel Holdings to Siemens for £9.3 million. The deal is subject to shareholder approval from Brunel shareholders following an EGM to be held on March 2.
Dickinson Control Systems is based at five locations across the UK and achieved sales of £15 million last financial year. The company designs, manufactures and installs factory floor automation and control systems for a wide variety of industries.
As part of a programme to reduce gearing, Brunel Holdings appointed Livingstone Guarantee, an independent corporate finance boutique, to find a buyer for Dickinson. Siemens was deemed to be the preferred purchaser. According to John Clifford, a partner with Livingstone Guarantee: ‘While other strong offers were received from British and American companies, an acquisition by Siemens was the correct course for all concerned.’
Tom Temple, currently managing director of Dickinson Legg, Brunel’s tobacco processing equipment company, becomes managing director of the Siemens subsidiary which will continue to trade under the DCS name.
Siemens has entered into a five year trading agreement with Dickinson Legg where Temple will assume the role of non-executive chairman.