SL Controls NNIT Group – SL Controls Senior Management Team shareholders pictured after signing the deal are the company’s shareholders (l-r): Mick McHale, Darragh McMorrow, Dermot McMorrow, Keith Moran (CEO), Paul Clarke and Shane Loughlin.
SL Controls acquired by NNIT Group in €17 million deal
By I Love Limerick Correspondent Dylan Frawley
On July 5, SL Controls, the Irish specialist software integration firm, has been acquired by global service provider NNIT group.
NNIT is one of Denmark’s largest IT operators with more than 3,000 employees worldwide and offices across Europe, North America, and Asia.
The NNIT Group is one of the foremost suppliers of IT services to the global life sciences industry.
The acquisition of SL Controls will further strengthen NNIT’s solutions within Production IT and will open SL Controls up to new opportunities to continue its growth globally.
The deal was completed earlier today and represents an enterprise value of €16.9 million which comprises an upfront payment of €12.7 million with an earn-out element of €4.2million.
All SL Controls staff and management will remain in place and joining forces with NNIT will enhance the ambitious growth plans previously announced by SL Controls.
In March earlier this year, the company announced the creation of 50 new jobs in Ireland over 18 months to bring the total workforce to 140.
Established in 2002, SL Controls is an international provider of equipment system integrated solutions to a range of world-leading brands across several industries including Medtech, Pharma, Healthcare and Technology. Over the past 19 years, SL Controls has become the software integration vendor of choice in the industry.
The company has offices in Sligo, Dublin, Limerick, Galway, and Florida and has customers – mainly multinationals – in Ireland, across mainland Europe and the US. It has experienced strong growth over recent years and is on track to meet target revenues more than €10m for 2021.
Exciting news! SL Controls is delighted to announce its acquisition today by NNIT Group. We are joining forces with one of the foremost suppliers of IT services to the global life sciences industry, creating huge opportunities for SL Controls. Read more https://t.co/b9nwfQAoRs
— SL Controls (@SLControls) July 5, 2021
SL Controls was assisted during the acquisition by Deloitte Ireland, Philip Lee law firm and DFS&Co Accountants.
SL Controls CEO and co-founder Keith Moran says “In joining the NNIT group of companies, SL Controls is excited to join a company with a shared vision of excellence in service delivery in the life sciences industry. It’s an exciting time for SL Controls and its excellent staff who have supported the company’s growth over the last 19 years. Joining forces with NNIT will further enhance our service offering to meet our customers’ global requirements for fully integrated solutions across the Operational Technology and Information Technology layers.”
Ricco Larsen, Senior VP of NNIT Life Sciences, adds “We are excited to welcome SL Controls and their unique experience and expert knowledge of life sciences manufacturing on board. The acquisition is yet another important milestone in our strategy to grow NNIT Life Sciences internationally. At the same time, we are delivering on our promise to further strengthen and grow our portfolio of IT services and solutions to the benefit of our customers. SL Controls will play an important role in securing our leading global position.”
Rasmus Nelund, Corporate VP of NNIT Life Sciences Customer Success, states “We have already shown that we are able to successfully acquire IT companies within the life sciences segment and quickly leverage the joint synergies – in this case enriching our production IT and supply chain services and now offering end-to-end services.”
This newly established partnership will revolutionise IT software services and bring even more success to Limerick soon.
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