Exciting times at Diamond Point International (Europe) Ltd
13 September 2018
Addtech Components, a business area in the Addtech Group, signed an agreement on the 3rd July 2018 to acquire all shares outstanding in Diamond Point International (Europe) Ltd.
Diamond Point International (DPI) was founded by Sherman J Kemmer who brought it over to the UK in 1987, and Sherman grew DPI into a successful profitable business that manufactures and markets innovative embedded computer systems for demanding OEM-applications. The customers are mostly represented within the defence and railway industry in the UK market.
Sherman managed DPI over the last 30 years, but now in his 80s, he decided it was time to bring a group in who could take DPI to the next level. Addtech was his preferred choice and DPI will work closely with Recab AB, a subsidiary of Addtech, where both companies will benefit from each other's skills, solutions and market presence.
Cees Koetsier, managing director of Recab states: “It was very clear that there are a lot of synergies between Recab and Diamond Point. We work in the same verticals and therefore have a lot of the same suppliers."
Sherman built up very good long-standing relationships with suppliers, and DPI and Recab are looking forward to continuing and enhancing those relationships.
In connection with the acquisition, Martin Frederiksen has become the new managing director of Diamond Point, in order to lead the company through this exciting period of change. John Vaines felt that the time was right to step down from the role and pursue other challenges and we all wish him the best for the future.
Martin has a wealth of experience in Embedded Computing and has worked closely with Recab as well as Diamond Point whilst working for Kontron and Congatec. Martin Frederiksen states: “I am extremely excited and humbled in the trust that everyone is putting in me. I believe there is a clear need for a value added solution provider with design capabilities for vertical markets like Defence and Rail, but also Telecom and Oil & Gas – all verticals where Recab has a very strong knowledge base.”
Everyone at DPI wishes Sherman all the best in his retirement and the new team at DPI is looking forward to working with Recab and taking DPI into the future to secure the next 30 years.
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