Pressemeddelelse fra SCADA International
SILKEBORG, DENMARK – April 7, 2022 -SCADA International has entered into an
agreement to be acquired by funds advised by Magnesium Capital LLP (“Magnesium”) and upon closing, will become part of Magnesium’s portfolio of fast-growing technology and tech-led service businesses that are enabling the Energy Transition. The SCADA International management team is reinvesting alongside Magnesium and will retain a significant minority position in the Company. Executive Capital, who has been shareholders since 2010, has sold all its shares in the Company as part of this transaction. The transaction is subject to regulatory approvals.
With the global renewable electricity capacity forecast to rise to more than 4800 GW by 2026, the partnership with Magnesium will support SCADA International’s ambitious growth plans by providing it with the financial resources, operational expertise, and strategic oversight as the Company aims to expand geographically, execute on acquisitions, accelerate product development, and penetrate new market verticals.
At SCADA International, they are very pleased with the new partnership:
“For the past 12 years, we have been on a fantastic growth journey with Executive Capital as a significant shareholder. The renewable industry evolves at an accelerating speed, which means that the need for the flexible and future-proofed SCADA and control solutions that we provide are in high demand. So, it is important for us to keep innovating and expanding to meet the needs of our customers. With Magnesium Capital, we now have a partner with vast experience in strategy support within our core market as well as the financial backing to respond to present and future customer requests. For us, this is a perfect strategic fit” says Thomas Bagger, CEO at SCADA International, and continues:
“We are now more than ever able to seek new opportunities and grow with our customers in the best of ways”
Torben Bjerre-Madsen, Chairman of the SCADA International Group and partner in Executive Capital adds: “It has been a long and exciting journey. Since we started working together with Thomas and the team of SCADA International, turnover has increased almost four times and product, customer, and geographic scope have increased substantially. I am sure that SCADA International under the new ownership and with strong management can continue their impressive journey.”
The collaboration will ensure better conditions for renewable plants’ performance
Since its foundation in 2006, SCADA International has dedicated its investment and attention to providing SCADA software, SCADA hardware, and consulting services to OEMs, assets owners, and utilities worldwide. The aim is to ensure the optimized performance of renewable energy plants.
SCADA International’s experience in plant optimization fits well with Magnesium’s investment strategy pursuing investments in exceptional companies with tech-led solutions that have strong growth prospects, clear value propositions and that play a key role in the decarbonization of the grid. As such, the decision to invest in SCADA International came rather naturally:
“We are excited to partner with the SCADA International team who over the last two decades has successfully grown from the leading industrial control systems provider to the wind energy industry to a world-class technology partner to the World’s most demanding renewable asset owners through proprietary SCADA systems and best-in-class software solutions. The team has a proven track record, a market-leading position, and a history of delivering value-adding solutions to customers worldwide, which makes it an attractive platform for future growth. We are looking forward to working with Thomas and his team in this next phase of SCADA International’s journey,” says Matts Lundgren at Magnesium Capital.
Thomas Bagger also believes that the partnership is the ideal match for SCADA International: “We strive to empower the renewable future through our solutions and expertise. Their ambition fits this mission, and I am certain that we together can achieve great success in our joint path of the future,” says Thomas Bagger.
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Kontakt:
Press Tarah White tlf.: +44(0) 203 786 9150 email: tarah.white@magnesiumcapital.com
Kasia Kandulski Lindegaard email: kkl@scada-international.com
Læs hele pressemeddelelsen på Via Ritzau her: https://via.ritzau.dk/pressemeddelelse/scada-international-partners-with-magnesium-capital-to-accelerate-its-growth?releaseId=13648646
** Ovenstående pressemeddelelse er videreformidlet af Ritzau på vegne af tredjepart. Ritzau er derfor ikke ansvarlig for indholdet **
