Foxboro Company
| Company type | Public limited company |
|---|---|
| Industry | Engineering, Information technology |
| Predecessor | BTR plc, Siebe plc |
| Founded | 1999 |
| Defunct | 2014 |
| Fate | Acquired by Schneider Electric |
| Successor | Schneider Electric |
| Headquarters | London , United Kingdom |
Area served | Worldwide (offices in more than 50 nations; products distributed in approximately 180 countries) |
Key people | Rick Haythornthwaite (former CEO), Ulf Henriksson (former CEO), Wayne Edmunds (former CEO) |
| Products | Software, Industrial Automation, Energy Controls, Appliance divisions including Avantis, Eurotherm, Foxboro, IMServ, InFusion, Triconex, SimSci, Skelta, Wonderware, Drayton, Eberle, Eliwell |
| Parent | Schneider Electric (from 2014) |
Invensys Limited was a global engineering and information technology firm based in London, maintaining offices across more than 50 nations and distributing products in approximately 180 countries. Established in 1999 through the consolidation of BTR plc and Siebe plc, its history extends back to 1920 with the founding of Siebe Gorman & Company Ltd. The company’s operations were divided into four primary divisions: Software, Industrial Automation, Energy Controls, and Appliance. Prominent brands under its umbrella included Avantis, Eurotherm, Foxboro, IMServ, InFusion, Triconex, SimSci, Skelta, Wonderware, Drayton, Eberle, and Eliwell.
Initial financial challenges emerged due to overvalued acquisitions such as Baan Corporation during the dotcom era and substantial indebtedness. Following a period of restructuring and asset sales by 2005, Invensys restored its financial footing, enabling further acquisitions. The firm expanded notably in the railway sector under the Invensys Rail brand before divesting this division to German conglomerate Siemens for £1.7 billion in May 2013.
From 2011 through early 2012, Invensys’ stock value declined by nearly half, influenced by a £40 million charge linked to delays in control and safety systems for eight nuclear reactors in China. In pursuit of stability, the company engaged with American automation giant Emerson Electric, though no takeover bid ensued. Ultimately, French multinational Schneider Electric acquired Invensys for $5.5 billion in January 2014, fully absorbing the business and retiring the Invensys name.
History
Formed in 1999 through the merger of BTR plc and Siebe plc, Invensys underwent significant restructuring between 1999 and 2004 that involved thousands of job cuts aimed at reducing expenses amid falling revenues and heavy debt burdens that risked insolvency. A comprehensive divestment strategy coupled with a £2.7 billion debt restructuring in 2004 helped stabilize the enterprise. Notably, The Baan Corporation, acquired in 2000 for €762 million, was sold just three years later for only US$135 million. Additional disposals included Fasco motors and Eurotherm Drives to support operational financing.
In May 2005, following refinancing efforts, CEO Rick Haythornthwaite stepped down and was replaced by Ulf Henriksson. The following year in May 2006, French multinational Schneider Electric purchased Invensys Building Systems’ North American and Asian operations for $296 million. By December 2007, Invensys had sold its Firex Safety Division to United Technologies while simultaneously expanding its footprint within Indonesia.
Toward the end of 2009, Westinghouse Rail Systems was rebranded as Invensys Rail to consolidate its railway sector branding. This division was among a select few manufacturers producing equipment compatible with the European Rail Traffic Management System (ERTMS). In 2011, Invensys Rail secured contracts valued at £700 million from clients including Network Rail and Obrascón Huarte Lain for signalling solutions.
In March 2011, Wayne Edmunds succeeded Henriksson as CEO amid reported internal management conflicts despite financial improvements. During the late 2000s and early 2010s, Invensys expanded its presence in China’s rail infrastructure and power generation markets. However, from 2011 to early 2012, its share price dropped almost 50%, primarily due to a £40 million charge stemming from delays in delivering control and safety systems for eight Chinese nuclear reactors. On 2 May 2013, Invensys sold its rail division based in Wiltshire to German engineering leader Siemens for £1.7 billion, mainly to address pension liabilities.
In 2012, takeover discussions occurred between Invensys and American industrial automation firm Emerson Electric, although no formal bid was presented. Management refuted CEO Henriksson’s assertion that China Southern Rail intended a substantial stake acquisition. Previously established licensing agreements had enabled local manufacturing and joint marketing of Invensys Rail signalling products within China’s mass transit sector.
In July 2013, Schneider Electric announced plans to acquire Invensys for £3.4 billion, targeting annual cost reductions near €140 million (£122 million), with anticipated workforce reductions. Reports suggested that American conglomerate General Electric considered mounting a competing offer valued at £3.5 billion ($5.3 billion). The Schneider acquisition concluded on 17 January 2014, with complete integration finalized seven months afterward.
Operations
Invensys was structured into four primary divisions: Software, Industrial Automation, Energy Controls, and Appliance.
Avantis
Avantis Enterprise Asset Management provides solutions for maintenance, repair, and operations, encompassing maintenance oversight, inventory and spare parts management, condition monitoring, and procurement processes.
Eurotherm
Eurotherm delivers measurement and control instruments along with data recording solutions tailored for industrial and process sectors.
Foxboro
Foxboro Company supplies control systems designed for distributed and plant-wide operations, complemented by measurement and instrumentation devices. Their product range includes Pressure Transmitters, Coriolis Flow Meters, Valve Positioners, Buoyancy Level Transmitters, and Temperature Transmitters.
IMServ Europe
IMServ Europe focuses on energy management alongside data monitoring services. This entity was previously integrated within Invensys Controls.
SimSci
SimSci offers software applications that improve asset utilization and performance through integrated simulation, optimization, training tools, and process control services.
Skelta BPM
Skelta BPM delivers business process management software aimed at optimizing organizational workflow efficiency.
Triconex
Triconex specializes in safety-critical control systems used in emergency shutdowns, burner management, fire and gas detection, as well as turbomachinery control and protection.
Wonderware
Wonderware creates software solutions targeting production operations, manufacturing intelligence, business process management, and collaboration to enhance operational productivity.
See also
External links
- Invensys on Schneider Electric website