May River Capital has completed the sale of Dickson, a global environmental monitoring technology company, to Copeland, a Blackstone portfolio company.
The sale concludes an investment that began in April 2018, when May River acquired Dickson and began working with management to expand the company from a family-owned, single-site business into an international environmental monitoring platform.
Under May River’s ownership, Dickson expanded to serve customers in more than 50 countries, with operations in Addison, Illinois; Montpellier, France; and Kuala Lumpur, Malaysia. May River Capital Completes Sal…
Founded in 1923, Dickson develops environmental monitoring technologies for regulated industries.
Its offerings include software, connected monitoring devices, sensors, and related services used by customers in life sciences, pharmaceuticals, healthcare, medical devices, and other compliance-intensive markets.
These customers rely on environmental monitoring systems to measure and document conditions affecting products, facilities, laboratories, manufacturing environments, and other sensitive operations.
During May River’s ownership period, the firm and Dickson management invested in the company’s commercial capabilities while expanding its technology portfolio.
A significant part of that strategy involved developing next-generation sensing technologies and cloud-based monitoring solutions, strengthening Dickson’s ability to serve life sciences and pharmaceutical companies that require continuous monitoring and documentation.
The company also expanded internationally through acquisitions.
One of the most significant transactions was Dickson’s take-private acquisition of Oceasoft, a publicly traded French environmental monitoring company.
The acquisition extended Dickson’s technology platform and international presence while adding capabilities relevant to regulated life sciences customers.
By combining organic investment with acquisitions, May River and management sought to reposition Dickson from a traditional environmental monitoring equipment provider into a broader global technology platform.
The sale to Copeland provides Dickson with a substantially larger industrial parent.
Copeland is a global provider of compression technologies and controls solutions, employing approximately 18,000 people across more than 40 countries and bringing more than a century of operating history.
May River said Copeland’s global platform should give Dickson more opportunities to expand its capabilities and reach a broader customer base.
For Dickson, the transaction marks another ownership change after more than eight years of development with May River.
Rick Weiler, President and CEO of Dickson, credited May River with supporting investment in employees, products, and technology that expanded the company’s ability to address environmental monitoring requirements for life sciences customers.
May River Capital focuses on lower middle-market industrial growth companies, particularly businesses in advanced manufacturing, engineered products and instrumentation, specialized industrial services, and value-added industrial distribution.
Dickson fit within that strategy through its combination of specialized sensing hardware, software, and services for regulated industrial and healthcare markets.
The transaction also involved financial and legal advisors.
Support: Houlihan Lokey served as lead financial advisor to May River and Dickson, with William Blair & Company acting as co-financial advisor. Paul Hastings served as legal counsel.
KEY QUOTES:
“With May River’s support, we have invested in our people and expanded our product and technology capabilities, enhancing Dickson’s ability to support the critical environmental monitoring needs of life sciences customers around the world. Joining Copeland marks an exciting next chapter for Dickson, and we look forward to the opportunities ahead within its broader global platform.”
Rick Weiler, President and CEO of Dickson
“Rick and the Dickson team have been outstanding partners, and the strength of the organization is a testament to their leadership and dedication. Through our partnership with management, we have transformed Dickson into a global leader in its industry and positioned it for further growth. We believe Copeland is an ideal partner for Dickson’s next chapter and will help the Company extend its capabilities to an even broader customer base.”
Steve Griesemer, Partner at May River Capital
