Devon-based Condition Monitoring Group
(CMG), a specialist in vibration detection equipment for high-tech assets, has secured a seven-figure Growth Capital facility from Santander
to acquire French competitor SEMIA SA.
This latest move reflects CMG’s ambitious growth plans to build its presence around Europe, bolster its expertise in vibration technologies and increase its global market share of vibration monitoring systems. It follows in the footsteps of previous acquisitions that includes Helitune, SEI and Prosig in 2000, 2006 and 2014.
Operating in a niche market, CMG designs, manufactures and installs monitoring systems that collect and analyse data from a variety of assets, including helicopters and rotating industrial plant.
The company’s products deliver improved safety through identifying 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 operations in the UK, Italy, Germany and the USA. The acquisition of SEMIA SA will increase its total headcount by 14.
Andy Lobato, CMG Group CEO, said: “CMG is extremely pleased to have been able to complete the acquisition of SEMIA SA, a small manufacturing business located to the north of Paris. We consider the buy out, which closely aligns with the core business of the Group, to be an integral part of our global growth strategy and substantially mitigates the risk around Brexit.”
Peter Abel, Santander UK Growth Capital director, said: “CMG is an excellent business that we have worked with for a number of years. Having reported strong growth recently, 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.”