Transaction Details

October 15, 2018
Manchester

Sector

Industrials and Industrial Technology

Deal Type

M&A

Deal Team

Stuart Warriner, Dominic Orsini, Andy Battersby, Robert Liguz

GCA Altium advises the shareholders of Deep Sea Electronics on the sale to Caledonia Investments

GCA Altium acted as exclusive financial advisor to the shareholders of Deep Sea Electronics, one of the world’s leading designers and manufacturers of controllers for diesel-powered electricity generators and intelligent battery chargers, on its sale to Caledonia Investments.

Headquartered in Hunmanby, Yorkshire, DSE sells into over 150 countries globally. Its products are used worldwide to support public sector infrastructure projects and defence applications, as well as diverse applications across industry sectors (including oil and gas, telecoms, construction, power distribution and facilities management).

DSE was founded in 1975 by Ed Sheader, who was later joined in 1980 by co-owner Stan Archer. For its financial year to 31 May 2018 DSE reported gross profit of GBP 21.2m and profit before tax of GBP 12.8m on turnover of GBP 37.8m, and at that date had gross assets of GBP 35.0m.

The acquisition represents the largest initial investment by Caledonia’s Unquoted pool since its inception in 2011 and is consistent with Caledonia’s strategy of investing in well-established private companies, with proven management teams, seeking long-term growth capital.

Stuart Warriner, Managing Director at GCA Altium, stated: “We are delighted to have led the sale of this outstanding business. The shareholders wanted us to find a financial buyer who would support the management team in ensuring the long-term growth of the business. We wish the team and Caledonia every success in the future.”

GCA Altium acted as financial advisor to the shareholders of DSE. The transaction was signed in October 2018 and values the business at GBP 162.0m.

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