Transaction Details

June 2, 2021
Manchester

Sector

Technology, Industrials and Industrial Technology

Deal Type

M&A

Deal Team

Stuart Warriner, Andy Battersby, Matt Doyle, Rashma Begum, Tom Shackleton, Adam Sivner

GCA Altium advises Deep Sea Electronics on its sale to Generac Holdings

GCA Altium has advised the shareholders of Caledonia Quint Topco Limited, which trades as Deep Sea Electronics Limited (DSE) and is one of the world’s leading designers and manufacturers of controllers for backup electricity generators and intelligent battery chargers, on its sale to Generac Holdings Inc, a New York listed (NYSE: GNRC) leading global designer and manufacturer of energy technology solutions and other power products.

DSE, founded in 1975, is headquartered in Hunmanby, Yorkshire, UK, where all its products are manufactured, and also has a design team based in Mansfield, Nottinghamshire, UK. The firm’s products are used globally to support public sector infrastructure projects as well as 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 operates globally selling to over 150 countries, both direct and through a comprehensive distributor network.

Founded in 1959, Generac is an industry leader serving residential, light commercial, and industrial markets. Its products and solutions are available globally through a broad 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. It has increased its share of core target markets through the development and launch of power control products in load-sharing and synchronisation, the successful capture of adjacent market opportunities with new products in off-highway control, and by addressing the control needs of a growing number of customers seeking distributed power solutions enabled with intelligence and data capture.

David Thomson, Chief Executive of DSE, commented: “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 Covid-19 pandemic and I am incredibly excited about a new era of partnership with Generac.”

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.”

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