Thermo Electric Management Buy out
Leidschendam, 8 January 2014
Thermo Electric Instrumentation announces management buy-out of Doedijns Instrumentation business unit
On 31 December 2013 the full management team of Doedijns Instrumentation business unit announced the realisation of a management buy-out of Doedijns Instrumentation business unit as part of their global strategic growth plans. All instrumentation activities will be conducted via a newly founded entity called Thermo Electric Instrumentation B.V.
Thermo Electric Instrumentation will continue its operations as an experienced specialist in temperature measuring solutions worldwide and continuous its role as a distributor for their instrumentation partners (GEMS Sensors, WEKA AG, Honeywell Field Instrumentation, BESTA AG, ITT Neodyn, Nuova Fima).
The management buy-out of Thermo Electric Instrumentation is supported by Foreman Capital, an independent European investment company with a long term investment horizon that focuses on companies that are active in trading, production and services.
Former owner DGI (Doedijns Group International), headquartered in the Netherlands, is a leading supplier of power, motion and control solutions for the oil & gas, maritime and high-end machine building industries and has facilities in the Netherlands, the United Kingdom, Dubai, Singapore, Malaysia, Indonesia and the United States, Houston area. DGI decided to divest its Instrumentation business unit to fully focus on its core activities.
The close cooperation between DGI and Thermo Electric Instrumentation will continue in future as DGIs sales office in the Middle East will act as official agent for Thermo Electric Instrumentation for that region. All other geographies, including the Asia Pacific region, will be directly represented via local Sales Managers of Thermo Electric Instrumentation.
Jan Willem Noordermeer, Managing Director of Thermo Electric Instrumentation said: "Going further as an independent company is a unique opportunity for me and my management team. Backed by a strong investment company, we will now be able to realise our strategic growth ambitions and we very much look forward to grow our company and broaden our international activities in the field of temperate measurement solutions!"
Martin Rosmolen, COO of DGI, said: "The sale of our Instrumentation business unit is the next logical step in our strategy to further develop DGI's international footprint and enables us to fully focus on our core activities as power, motion and control solutions provider. Looking at the growth potential of our Instrumentation business unit we felt it would benefit this business if they would find a partner who would invest in the business to extend it further and to meet its growth potential. With Thermo Electric Instrumentation, supported by Foreman Capital, I am confident they have found such a partner."
Matthew Boatfield, Partner at Foreman Capital said ?We invested in Thermo Electric Instrumentation because we believe in both the market in which the company operates and the Management team. We look forward to supporting the strategic growth plans of Thermo Electric Instrumentation going forward.