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Manufacturer to be taken over by German company in multi-million pound deal

John CampbellEconomics and business editor, BBC News NI
News imageGetty Images A sign for Siemens Energy, a green and purple logo. with a white background. There is a red and white striped sign to the left.Getty Images
Siemens Energy was spun off from the main Siemens group to become a standalone company in 2020

Camlin Group, a Lisburn-based manufacturer, is to be taken over by Siemens Energy, the huge German industrial company.

Camlin primarily makes equipment which monitors the performance of electricity grids.

As the continued growth of renewable energy makes grid management more complicated there is a growing market for Camlin's products.

In 2024, the company made a pre-tax profit of £8.4m on turnover of £88m.

News imageGetty Images A dark electricity pylon with wires attached. There is a sky with an amber glow in the background.Getty Images
Camlin primarily makes equipment which monitors the performance of electricity grids

Second large deal for NI entrepreneur

The terms of the deal have not been disclosed, but Siemens Energy will likely pay somewhere between £150m and £250m.

When it completes it will be the second big deal made by the engineering entrepreneur John Cunningham.

In 2008 he sold his Kelman business to GE Energy, the US engineering group.

With his son Peter he retained a selection of highly specialised engineering units and intellectual property which was developed in the Camlin Group.

The Cunninghams are the majority shareholders in the group alongside outside investors and senior managers.

'Business operations will continue as usual'

Camlin, which was founded in 2010, employs about 650 people across its global operations.

Peter Cunningham, the chief executive, said the firm will continue to be 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 spun off from the main Siemens group to become a standalone company in 2020.

Tim Holt, Member of the Executive Board of Siemens Energy said the deal would strengthen its position in grid operations.

"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 approvals and is expected to close before the end of 2026.