Camlin Group to be Acquired by Siemens Energy
Camlin Group, a Lisburn-based manufacturer, is set to be acquired by Siemens Energy, a major German industrial company.
Camlin specializes in producing equipment that monitors the performance of electricity grids.
With the ongoing expansion of renewable energy sources complicating grid management, demand for Camlin's products is increasing.
In 2024, Camlin reported a pre-tax profit of £8.4 million on a turnover of £88 million.
Second Major Deal for Northern Ireland Entrepreneur
The financial terms of the acquisition have not been disclosed, but Siemens Energy is expected to pay between £150 million and £250 million.
This will be the second significant transaction involving engineering entrepreneur John Cunningham.
In 2008, Cunningham sold his Kelman business to GE Energy, a US-based engineering company.
Alongside his son Peter, he retained several specialized engineering units and intellectual property that formed part of the Camlin Group.
The Cunningham family holds majority ownership in the group, together with external investors and senior management.
Business Operations to Continue Unchanged
Founded in 2010, Camlin employs approximately 650 people worldwide.
Peter Cunningham, the chief executive, stated that the company will remain locally managed.
"For our customers, business operations will continue as usual and our experienced leadership team will remain at the helm," he said.
"Longer term, Siemens Energy's scale, investment and global reach will help us move faster and deliver greater impact across our markets."
Siemens Energy was separated from the main Siemens group to become an independent company in 2020.
Tim Holt, Member of the Executive Board of Siemens Energy, commented on the acquisition's strategic value.
"Camlin Group is known for their high-quality products, skilled workforce and advanced software portfolio. Together, we can help customers move from reactive maintenance to data‑driven, condition‑based operation," he added.
The transaction is subject to regulatory approval and is anticipated to be completed before the end of 2026.
