Advising Caledonia Investments plc on sale of Deep Sea Electronics

We have advised Caledonia Investments plc on the sale of its portfolio company Deep Sea Electronics (DSE) to Generac Holdings Inc. 

Caledonia is a self-managed investment trust company listed on the London Stock Exchange, and the proceeds of this transaction will be held on deposit for future investment.

We also advised Caledonia on its acquisition of DSE in October 2018. DSE is a leading provider of backup power control systems and it has grown strongly since acquisition, having secured a larger share of core target markets. In this period of time, DSE has developed and launched power control products in load-sharing and synchronisation, successfully captured adjacent market opportunities with new products in off-highway control, and is addressing the control needs of a growing number of customers seeking distributed power solutions enabled with intelligence and data capture.

Commenting on the deal, Private Equity Partner Ed Waldron, said: "Congratulations to Caledonia on this successful investment. This deal is a great example of Caledonia Private Capital's strategy and partnering approach. We have very much enjoyed working with Dave Thomson and his management team throughout the life of this investment."

Chris Hodges, Director, Caledonia Private Capital, added: “Ed and the team at Taylor Wessing have provided great support to us and DSE since we first invested in October 2018. They have been professional, commercial and focused in this process, and helped to meet a challenging timetable thanks to their exceptional skills and experience.“

The team was led by partners Ed Waldron and Jonny Bethell, with support from associate Sarah Wallace and trainee Alex Stones in the Private Equity team.

Additional advice was provided by partners Helen Farr and Martin Yells, senior associate Harriet Revington, associates Anna Dugoni and Ruth Moffett, and consultant Richard Carson.