Standard Control Systems is a leading provider of Building Energy Management Systems (“BEMS”), a computer-based system that controls and monitors a building’s mechanical and electrical equipment such as air handling and cooling plant systems, lighting, power, fire and security systems. SCS works closely with clients to minimise energy usage within buildings such as data centres, pharmaceutical facilities, hospitals and commercial buildings. The business expects to deliver revenues of c. €30 million in the year to 31 December 2024.
SCS was founded in Dublin in 1984 and has built its reputation as an established supplier of BEMS solutions in Ireland and internationally. SCS’ services include engineering, supply and commissioning of control panels, controllers, bespoke GUI mimics and software programming. The Company works with a number of trusted suppliers and technologies including Honeywell, Trend, Tridium, Distech, Allen Bradley and Cylon & Janitza.
SCS employs 70 people currently, in roles such as control and design engineers, and is looking to grow employment in these roles significantly over the next few years. Having contributed to the growth of the business to date, Cormac Walsh and John Roe, founders of Standard Controls, will be exiting the business as part of the transaction. Directors Linda Healy, Sean O’Toole, Declan McDonnell, Paul Ryan and Neil Boksberger will continue to lead the business under Healy, post completion.
Linda Healy, Managing Director of SCS, said:
“We are delighted to partner with MML Ireland for the next stage of our journey. There is a real opportunity to continue Standard Control Systems’ expansion both in Ireland and internationally and we believe the MML investment is a validation of that opportunity and the strength of its people and capability.”
Chris Walsh, who led the deal for MML, added:
“By installing systems which allow monitoring and controlling of the electrical components in buildings, SCS helps reduce energy waste and costs for clients while still maintaining occupant comfort and security. The SCS team has built a clear position as integrator of choice amongst some of the world’s leading blue chip companies. We, in MML are excited to partner with Linda and her team to support their growth ambitions.”
The MML investment team included Rory Quirke, Partner and co-Head of Investments, Chris Walsh, Investment Director and Kevin Nyhan, Investment Associate.
Corporate finance advice to the shareholders of Standard Control Systems was provided by Forvis Mazars, led by John Bowe, while Colm Crossan provided transaction assistance and advice to the Company. John Neeson, partner at McCann Fitzgerald acted as legal adviser to MML, while Gar Smyth and Sean Hiney of Wallace Corporate Counsel acted for SCS. George Byron, Karen Clarke and Stephen MacCarthy from Deloitte provided financial and tax due diligence whilst KPMG, led by Chris Brown carried out a commercial review for MML. Support for the transaction was provided by a team led by Peter Davy and Michael Gleeson from Bank of Ireland.
The investment is subject to approval from the Competition and Consumer Protection Commission (CCPC).
