Forvis Mazars advise Standard Control Systems on MML Growth Capital Partners investment

Standard Control Systems is a leading provider of Building Energy Management Systems (BEMS), a computer-based system that controls and monitors a building’s mechanical and electrical equipment, such as air handling and cooling plant systems, lighting, power, fire and security systems. SCS works closely with clients to minimise energy usage in facilities such as data centres, pharmaceutical plants, hospitals and commercial buildings. This significant transaction marks a key step in the ongoing expansion of the business as part of a growing ecosystem of engineering services to data centres and the wider built environment.

Currently employing 70 people in roles like control and design engineers, SCS plans to significantly expand its workforce in the coming years. Founders Cormac Walsh and John Roe, who have been instrumental in the company’s growth, will exit the business as part of the transaction. Moving forward, Directors Linda Healy, Seán O’Toole, Declan McDonnell, Paul Ryan, and Neil Boksberger will continue to lead SCS under Healy’s leadership post-completion.

Linda Healy, Managing Director of SCS, commented: “We are delighted to partner with MML Ireland for the next stage of our journey. There is a real opportunity to continue Standard Control Systems’ expansion both in Ireland and internationally and we believe that the MML investment is a validation of that opportunity and the strength of its people and capability.”

Seán O’Toole, Director said: “We would like to thank the Forvis Mazars team for their guidance and professionalism throughout this transaction. Their advice was invaluable to us in navigating this landmark investment for SCS.”

John Bowe, Forvis Mazars Partner, Deals – M&A, said that “Standard Control Systems is a unique Irish business with an impressive team and story of international expansion with blue-chip clients and is a great example of Irish expertise in this sector finding opportunity across the globe. We are excited to see this story continue as the business grows with this significant investment.”

The MML investment team included Chris Walsh, Investment Director and Kevin Nyhan, Investment Associate, assisted by Rory Quirke, Partner and Co-Head of Investments. The investment is being made from the MML Growth Capital Partners Ireland Fund II, a €145m fund supported by the Ireland Strategic Investment Fund, AIB and a number of international institutional investors.

Chris Walsh, who led the deal for MML, highlighted: “By installing systems which allow monitoring and controlling of the electrical components in buildings, SCS helps reduce energy waste and costs for clients while still maintaining occupant comfort and security. The SCS team has built a clear position as integrator of choice amongst some of the world’s leading blue-chip companies. We, in MML are excited to partner with Linda and her team to support their growth ambitions.”