Danish firm NNIT buys Sligo’s SL Controls for €17m

Sligo specialist engineering software business SL Controls’ global expansion to be spurred on by acquisition by Danish service provider NNIT.

One of Denmark’s biggest IT operators NNIT group has acquired Sligo-born business SL Controls for €17m.

The deal represents an enterprise value of €16.9m which comprises an upfront payment of €12.7m with an earn-out element of €4.2m.

“It’s an exciting time for SL Controls and its excellent staff who have supported the company’s growth over the last 19 years”

NNIT Group is one of the foremost suppliers of IT services to the global life sciences industry. The acquisition of SL Controls will further strengthen NNIT’s solutions within Production IT and will open SL Controls up to new opportunities to continue its growth globally.

Local vision inspires global ambition 

Man in blue suit beside sign saying SL Controls.

SL Controls CEO and co-founder Keith Moran

All of SL Controls staff and management will remain in place and joining forces with NNIT will enhance the ambitious growth plans previously announced by SL Controls. In March, the company announced the creation of 50 new jobs in Ireland over 18 months to bring the total workforce to 140.

“In joining the NNIT group of companies, SL Controls is excited to join a company with a shared vision of excellence in service delivery in the life sciences industry,” said SL Controls’ CEO and co-founder Keith Moran.

“It’s an exciting time for SL Controls and its excellent staff who have supported the company’s growth over the last 19 years. Joining forces with NNIT will further enhance our service offering to meet our customers’ global requirements for fully integrated solutions across the Operational Technology and Information Technology layers.

“In the ever-evolving, fast-paced life sciences sector, digital transformation is critical in meeting our customers’ global supply demands for life-enhancing pharmaceutical and medical device products. Today, joining the NNIT group will allow us to continue our journey to further grow globally and to provide enhanced services to our clients and exciting career opportunities for our staff,” Moran said.

Established in 2002, SL Controls is an international provider of equipment system integrated solutions to a range of world-leading brands across a number of industries including Medtech, Pharma, Healthcare and Technology.  Over the past 19 years, SL Controls has become the software integration vendor of choice in the industry.

The company has offices in Sligo, Dublin, Limerick, Galway and Florida and has customers – mainly multinationals – in Ireland, across mainland Europe and the US. It has experienced strong growth over recent years and is on track to meet target revenues in excess of €10m for 2021.

“The acquisition is yet another important milestone in our strategy to grow NNIT Life Sciences internationally,” said Ricco Larsen, senior vice-president of NNIT Life Sciences.

“At the same time, we are delivering on our promise to further strengthen and grow our portfolio of IT services and solutions to the benefit of our customers. SL Controls will play an important role in securing our leading global position.”

Main image at top: Pictured after signing the deal are the company’s shareholders (left to right) Mick McHale, Darragh McMorrow, Dermot McMorrow, Keith Moran (CEO), Paul Clarke and Shane Loughlin

By John Kennedy (john.kennedy3@boi.com)

Published: 6 July 2021