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Dickson Oceasoft

Overview

Dickson is a prime example of how May River’s specialized sector knowledge, deep operational expertise, and leadership can create significant value in a previously entrepreneur-owned company.

Dickson offers highly specialized testing instrumentation, services, and software focused on environmental monitoring solutions for highly-regulated end markets.  The company has a diverse customer base, which includes leading companies operating in healthcare, pharmaceutical, food & beverage, and medical device end markets.

The opportunity to grow Dickson came as a result of May River’s executive-led sourcing process in the Test & Measurement Instrumentation (TMI) sector.  In a partnership with industry executive, Rick Weiler, May River started searching for a potential acquisition in Fall 2017 and closed on the Dickson investment in April 2018.  Dickson’s former owner ran the company for over thirty years but was no longer involved with day-to-day operations.

Deal + Operating Thesis

May River’s objective with Dickson was twofold: build a mid-sized environmental monitoring & compliance platform by leveraging the firm’s strong brand perception and implement a sustained, growth-oriented strategy around its next gen product & service offering.

May River partnered with Rick Weiler to find, build, and scale a TMI platform.  Rick brought deep industry experience, which was rooted in his past role as CEO of Atlas Material Testing as well as senior leadership positions at United Technologies, Perkin Elmer, and Allied Signal.

May River and management also identified significant value-creation opportunities through improving operational processes, expanding the company’s outbound sales efforts, and investing in product and software development.  The fragmentation at the lower middle-market end of the TMI sector provided an attractive buy and build opportunity.

Partnership + Results

STRONGER LEADERSHIP

May River added significant depth to the senior leadership team by placing Rick Weiler as Dickson’s new CEO.  A new CFO, VP of Global Sales, Director of Product Development, Director of Compliance, and Global Controller were also appointed.

EARLY INVESTMENT IN OPERATIONS

May River and management initiated operational improvements immediately after the transaction closed.  These changes included optimizing the global supply chain, enhancing quality management systems, and bolstering product and software development.  In addition, Dickson’s sales and marketing initiatives were strengthened by significant investments in resources and infrastructure.

BUY-AND-BUILD STRATEGY

In December of 2019, Dickson acquired Oceasoft, a French company that designed, calibrated, and marketed intelligent sensors that monitor key physical parameters—such as temperature, humidity, and CO2 levels—for life sciences and agri-food markets.  The acquisition helped accelerate Dickson’s growth in European and U.S. environmental monitoring markets while also adding differentiated technology.

GLOBAL ENVIRONMENTAL MONITORING BUSINESS

Through the operational improvements, organic growth initiatives, and the acquisition of Oceasoft, Dickson has established itself as a global environmental monitoring and compliance business with best-in-class SaaS, market-leading products, and value-added services.