The amount of the deal was not disclosed.
The investment will support the expansion of the business through growth in new products and enhanced relationships with customers and channel partners, as well as to accelerate growth through strategic M&A.
Led by David Scheer, Chief Executive Officer, Power Products is a global, diversified electrical products platform with locations in North America, Europe, and Asia Pacific regions. Its products include harsh-environment power management and conversion products and solutions, wire and cable management accessories, test and measurement devices, switches, tools, and numerous other electrical components.
The Power Products portfolio consists of brands for a variety of aftermarket and OEM customer segments in electrical construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation. Brand names include Del City, Gardner Bender, Sperry Instruments, Lenco Marine, Marinco, Mastervolt, ProMariner, BEP, and Blue Sea Systems.