Condition Monitoring Group (CMG), a Devon-based manufacturer that specialises in vibration detection equipment for high-tech assets, has secured a seven-figure Growth Capital facility to acquire a SEMIA SA – a French manufacturer operating in the same arena.
The move to secure the French business is the latest in a string of acquisitions, which has seen CMG buyout of Helitune, SEI and Prosig over the course of 20 years. This latest acquisition reflects CMG’s ambitious growth plans to build its presence across Europe, bolster its expertise in vibration technologies and increase its global market share of vibration monitoring systems.
Operating in a niche and specialist market, CMG designs, manufactures and installs monitoring systems that collect and analyse data from a variety of assets, including helicopters and rotating industrial plant. CMG products deliver improved safety through identification of potential mechanical failures before they occur. They deliver improved reliability, plant availability, and help reduce maintenance costs for the end user.
CMG currently employs 110 people across its offices in the UK, Italy, Germany and the US. The acquisition of the French SEMIA SA will increase its total headcount by 14.
Andy Lobato, Group CEO, Condition Monitoring Group Limited, said: “CMG is extremely pleased to have been able to complete during October 2020 the acquisition of SEMIA SA, a small manufacturing business located to the north of Paris. The Board considers the acquisition, which closely aligns with the core business of the Group, to be an integral part in delivering its global growth strategy and substantially mitigates the risk around Brexit. CMG recognises the value that Santander UK brought to the Group in supporting the acquisition during these unprecedented times.”
Peter Abel, Growth Capital Director, Santander UK, added: “CMG is an excellent business that we have worked with for a number of years. Having reported strong growth in recent years, we are delighted to be backing them with this strategic European acquisition, which supports their specialist service offering across international markets. This latest move will enhance their global reach, but also protect their long-term stability, maintain their high-level accreditations and skill-base. With our strong track record in supporting growing and ambitious SME businesses, we look forward to continuing the relationship and success with CMG.”