Dickson Completes Squeeze-Out of Oceasoft
CHICAGO, Dec 19, 2019 – Dickson, a May River Capital portfolio company, announced today that it has completed the squeeze-out of Oceasoft SA’s (“Oceasoft” – Euronext Growth: ALOCA) minority shareholders for a cash consideration of EUR 2.85 per share. As a result, Dickson now holds 100% of Oceasoft’s shares. Effective December 18, Oceasoft’s shares were delisted from the Euronext Growth exchange.
This transaction is fully in line with Dickson’s strategy to accelerate its growth in the European and US environmental monitoring markets. In this context, Oceasoft provides Dickson with additional expertise in innovative products and services, in particular for intelligent and connected sensors for monitoring physical parameters.
This transaction ensures the sustainability of Oceasoft’s team and technology. Oceasoft will continue operations under its current name, and Oceasoft’s founder & CEO, Laurent Rousseau, will continue as European President, leading the consolidated R&D team and joining Dickson’s board of directors.
“Oceasoft fills a gap that Dickson currently has within regulated supply chain monitoring. Joining the two businesses together will enable true end-to-end environmental monitoring of global supply chains,” commented Dickson CEO Rick Weiler.
“There is a like-minded approach between the two businesses. We both ensure the integrity of highly-regulated end markets and have established customer trust through our in-house certified laboratories,” added European President Laurent Rousseau.
Steve Griesemer, May River Capital partner, commented, “We are proud of the work the entire team dedicated to completing this complex transaction.” He continued by saying, “Oceasoft represents a perfect strategic fit with Dickson and allows the combined companies to support our customers who are facing increasing end market regulation and a heightened focus on product safety.”
May River acquired Dickson in April 2018 as a platform to build a larger test and measurement instrumentation company. Dickson, a 96-year old company based in Addison, Illinois, provides IoT-enabled environmental monitoring systems that support real-time data and service from its SaaS cloud platform (DicksonOne).
Paul Hastings (Europe) LLP served as legal counsel, ALANTRA France Corporate Finance as presenting bank and financial advisor, and EC Mergers & Acquisitions as buyside financial advisor to Dickson and May River.
Dickson is a leading Test & Measurement compliance partner that develops environmental monitoring systems (temperature, humidity, pressure, and other variables) to meet regulatory requirements and protect products for various markets including: health services, pharmaceutical, medical devices, and food & beverage. For more information, please visit dicksondata.com.
Based in Montpellier, France, Oceasoft designs, calibrates and markets intelligent and connected sensors to monitor physical parameters such as temperature, humidity, CO2 levels and differential pressure for the life sciences and agri-food markets. The company offers a complete vertical offering, from the sensor to the information system, by mastering sensors and calibration, radio frequency transmission, and development of software platforms. For more information, please visit oceasoft.com/fr.
About May River Capital
May River Capital is a Chicago-based private equity firm focused on investing in lower middle-market, industrial growth companies. May River Capital invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services, and value-added industrial distribution services. For more information, please visit mayrivercapital.com.