Manufacturer acquired by energy technology specialist
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Caledonia Quint Topco Limited, which trades as Deep Sea Electronics (DSE) has been acquired by Generac Holdings Inc, a New York listed designer and maker of energy technology solutions and other power products.
DSE, founded in 1975, is headquartered in Hunmanby where all its products are made. It designs and manufactures controllers for backup electricity generators and intelligent battery chargers.
It also has a design team based in Mansfield, Nottinghamshire.
The firm’s products are used globally to support public sector infrastructure projects as well as in diverse applications across industry sectors, including oil and gas, telecommunications, construction, power distribution and facilities management.
DSE employs over 160 people and with teams on the ground in North America, the Middle East and India it sells to over 150 countries, both direct and through a comprehensive distributor network.
Founded in 1959, Generac serves residential, light commercial, and industrial markets. Its products and solutions are available worldwide through a network of independent dealers, distributors, retailers, e-commerce partners, wholesalers and equipment rental companies, as well as sold direct to certain end user customers.
DSE was acquired by Caledonia in October 2018 and has grown strongly since then.
David Thomson, chief executive of DSE, said: “Caledonia has helped me to lay the foundations for DSE’s future growth by strengthening my team, supporting investments in new products and channels to market, and positioning DSE strategically for emerging opportunities in renewable and distributed power and microgrid generation.
“We have forged ahead despite the pandemic and I am incredibly excited about a new era of partnership with Generac.”
Investment bank GCA Altium advised the shareholders of Caledonia.
Stuart Warriner, managing director at GCA Altium, added: “We are delighted to have supported the shareholders in this transaction. We wish the business every success in its partnership with Generac.”