Eddyfi/NDT completes acquisition of Senceive
The acquisition of the UK-based company adds the valuable IoT and wireless condition monitoring sectors to the Group's portfolio.
Sales & Marketing
Technology / IIoT
QUÉBEC — Eddyfi/NDT announced the acquisition of London-based Senceive Ltd, a designer and manufacturer of wireless condition monitoring technology for a wide range of industry sectors. Senceive will join Eddyfi/NDT as a separate entity and becomes the group’s fifth platform and business unit, continuing to operate under the Senceive name.
Senceive’s team recognized the potential of easy-to-use, precise, reliable, and long-life wireless remote monitoring, explicitly for the challenging and risk conscious civil engineering, rail, and mining environments. Doing so, they empowered those responsible for infrastructure management, construction, and maintenance to proceed with confidence.
“Eddyfi/NDT has always valued the importance of confidence in asset owners’ decision-making and understands the pivotal role that remote monitoring plays in keeping both people and infrastructure safe. We are no strangers to the concept of repeatable, high-quality data, for integrity management. Today, with the acquisition of Senceive, we are taking our first steps in infrastructure monitoring; a critical, dynamic, and huge market segment powered by innovation and technological advances. The timing is perfect to increase focus on this sector, with the global pandemic clearly demonstrating the need to minimize site visits by using wireless remote monitoring solutions” said Martin Theriault, CEO of Eddyfi/NDT.
Senceive’s CEO, Graham Smith, stated “Joining Eddyfi/NDT is an extremely exciting opportunity for everyone at Senceive and will provide significant strategic, financial and commercial benefits to reinforce and enhance our market leadership in the wireless enabled remote condition monitoring sector. The business has been growing at a rate of 50-100% over recent years and the opportunities for continued high levels of growth, both organically and through selective acquisitions, are huge, with the existing platforms of people and technology that we have built over 15 years. We think this partnership brings together two outstanding and complementary brands ready to take on new challenges together. Already, I can see that Senceive and Eddyfi/NDT’s teams are true kindred spirits, sharing the same will to succeed and to be recognised globally as the de-facto standard for all clients and partners across our applications. I believe we will now have the resources, investment, backing and imagination to make that a reality.”
The transaction was financed by a bank syndicate led by National Bank of Canada. EC M&A is acting as exclusive financial advisor to Senceive. McCarthy Tétrault acted as lead legal advisor to Eddyfi/NDT and TLT as the legal advisor for Senceive.