May River Capital has closed its buy of The Dickson Co. Financial terms weren’t announced. Dickson, of Addison, Illinois, designs and makes T&M instrumentation, focused on environmental conditions, such as data loggers, chart recorders, indicators and sensors, as well as related software tools and services. NXT Capital provided the debt financing. Paul Hastings LLP served as legal counsel to May River, while Burke, Warren, MacKay & Serritella PC served as legal counsel to the company and its shareholders. EC Mergers & Acquisitions provided financial advice to the company and its shareholders.
May River Capital Completes Acquisition of Dickson
Private equity firm May River Capital, an investor in lower middle-market industrial growth businesses, has completed its acquisition of The Dickson Company (“Dickson”). Terms were not disclosed.
Dickson represents the first acquisition that will form a new Test & Measurement (“T&M”) instrumentation platform by May River. Rick Weiler, a member of May River’s Executive Resource Group, will serve as Executive Chairman of the T&M platform. The Dickson investment is the culmination of a May River targeted buyside search effort, in partnership with Rick Weiler, focused on T&M. Weiler’s prior career includes senior leadership roles with Atlas Material Testing, Micronics, PerkinElmer Optoelectronics, Allied Signal, and United Technologies.
Founded in 1923 and based in Addison, IL, Dickson is a leader in the design and manufacture of T&M instrumentation, focused on environmental conditions, such as data loggers, chart recorders, indicators and sensors, as well as related software tools and services. The Company serves a diversified installed base of customers with a focus on highly regulated healthcare, pharmaceutical, food & beverage, and medical device end markets, which carry stringent environmental and quality control requirements.
Chip Grace, May River partner, stated, “there is a fantastic opportunity in front of us to assist Dickson in its next phase of growth as a leading environmental monitoring and audit compliance partner to its customers. Central to our thesis is a belief that increasing regulation and heightened focus on product safety will continue to drive growth for Dickson’s products and services.” He continued by saying, “May River is thrilled to partner with Rick Weiler and the entire Dickson management team to acquire the Company.”
Rick Weiler, Dickson’s newly appointed Executive Chairman, commented, “Dickson is at a unique inflection point with respect to its next generation products (DicksonOne) and value-added service offering. The Company has been growing at an impressive rate in these core areas of focus. We see numerous opportunities, both organic and acquisitive, to assist Dickson in enhancing this growth rate and its product and service offering.” Weiler also stated that “Dickson’s strong brand and reputation in the marketplace is a testament to what the prior owner and senior management team have built. I couldn’t be more excited about supporting the team and its mission to be the leading environmental monitoring regulation and compliance partner for our customers.”
Paul Hastings LLP served as legal counsel to May River, while Burke, Warren, MacKay & Serritella, P.C. served as legal counsel to the Company and its shareholders. NXT Capital provided the debt financing in support of the acquisition. EC Mergers & Acquisitions acted as financial advisor to the Company and its shareholders.
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 invests in high-quality industrial growth businesses, including precision manufacturing, engineered products, specialized industrial services, and value-added industrial distribution businesses. For more information, please visit mayrivercapital.com
Based in Addison, Illinois, Dickson is a leading Test & Measurement compliance partner, providing customers with T&M instrumentation as well as related software tools and services. Dickson serves a diversified installed base of customers with a focus on highly regulated healthcare, pharmaceutical, food & beverage, and medical device end markets, which carry stringent environmental and quality control requirements. For more information, please visit dicksondata.com
ABOUT NXT CAPITAL
NXT Capital provides structured financing solutions through its Corporate Finance and Real Estate Finance groups and is based in Chicago with offices in Atlanta, Dallas, Los Angeles, Nashville, New York and Phoenix. For more information, please visit nxtcapital.com