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Sweden's Datamars pays more than $100M for Simcro as Riverside exits

Monday 30th April 2018

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Sweden's Datamars paid more than $100 million for Simcro according to the case summary from the Overseas Investment Office that cleared the transaction last month.

The actual consideration was withheld in the summary, which gives the price range of the previously announced deal. 

Datamars specialises in radio frequency identification with "markets in companion animal ID, livestock ID and textile ID products," the OIO says. "Simcro Holdings makes application devices for the animal health industry. The investment will integrate the two businesses, and further develop and expand their product portfolios."

Riverside Co, a US-based private firm, took a controlling stake in Simcro in mid-2013, its first investment in New Zealand, and Riverside principal Brad Lynch said at the time his firm that Simcro would benefit from Riverside’s "international footprint and deep experience sourcing and selling in Asia and indeed across the globe." In May 2017, Riverside agreed to sell Simcro to Sulzer at an enterprise of $132 million, which was 90 million Swiss francs at the time. However, Sulzer said last November that the deal couldn't be completed.

Riverside targets investments in companies of up to US$400 million. This month Datamars said it acquired Simcro in a deal to expand its products and services and strengthen its market position. Riverside kept on chief executive Will Rouse and R&D director Rod Walker, who remained shareholders, Stuff reported in 2013. It cited a TIN100 estimate that its annual revenue was about $21 million.


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