LONDON, UK, 1 February, 2019 – Electrocomponents plc (LSE: ECM), a global multi-channel provider of industrial and electronic products and solutions, has announced that on 31 January 2019 it completed the acquisition of Monition, a UK-based pioneer in the design, development and application of leading reliability and condition-monitoring systems.
Monition will initially operate as an extension of our Technical Services operation, within the RS Northern European sub-region of EMEA. This acquisition will greatly enhance the existing range of value-added solutions RS offers its customers. Monition provides managed services in areas such as condition monitoring, predictive maintenance and the Industrial Internet of Things (IIoT) to improve their customers’ reliability, operability and maintainability.
Monition, originally founded by Ian Jennings, has more than 30 years of operational knowledge and expertise in the reliability and condition-monitoring sector. It has well-established relationships within the maintenance functions in a range of blue chip clients, particularly within the food and beverage sector.
“The acquisition of Monition supports our strategy of building a range of differentiated value-added solutions such as connected factory and IIoT solutions for our customers,” said Pete Malpas, Managing Director of RS Northern Europe. “Whilst we already have an extensive range of customer solutions including calibration, eProcurement and inventory management solutions, we believe that the Monition portfolio will enable us to provide our customer base with the intelligent solutions they need to maintain their operations more effectively and as such will bring us closer to becoming first choice for our customers. We are thrilled to welcome Monition to RS and the Electrocomponents Group.”
Monition will retain its trading name and, as part of RS, will benefit from the financial strength, scale and international spread of the broader Electrocomponents Group as the business scales.
Mike Burrows, Managing Director of Monition, commented: “We are extremely excited to become part of RS and the broader Electrocomponents Group. We share a common vision to deliver high-quality, innovative maintenance solutions to our customers. Being part of a larger Group will bring Monition benefits of scale and additional resources, which will help us accelerate the design and development of cutting-edge maintenance engineering solutions to address Industry 4.0 and digital manufacturing needs.”
Based in Worksop, Nottinghamshire, Monition was formed in 1988 as an outsourced Condition-Based Maintenance partner. With a history in R&D dating back to the early ‘90s with both European and UK government and leading universities and industry specialists, Monition provides the insight to designing solutions across a range of operational situations.
Accredited to the ISO 9001-2015 standards, Monition delivers full-scale reliability and condition monitoring services through a team of highly skilled engineers and industry accredited analysts, using the latest analytical tools and techniques.
About Electrocomponents plc
Electrocomponents, through its trading brands RS Components, Allied Electronics & Automation and IESA, is a global multi-channel provider of industrial and electronic products and solutions. We offer more than 500,000 industrial and electronics products, sourced from over 2,500 leading suppliers, and provide a wide range of value-added services to over one million customers. With operations in 32 countries, we ship more than 50,000 parcels a day.
Electrocomponents is listed on the London Stock Exchange and in the last financial year ended 31 March 2018 had revenues of £1.71bn.