Mid-market private equity firm LDC has invested £10.5m for a “significant” stake in the management buy-out of Dale Power Solutions, a Scarborough, UK-based manufacturer and service provider of secure power solutions, from listed electronics business TT electronics plc.
LDC has backed the company’s’ existing management team, which is led by CEO Tim Wilkins. As part of the investment, the existing team will be further supported by the appointment of Denzil Lee as Chairman.
The company intends to use the proceeds to continue to grow organically and through acquisitions.
Established more than 75 years ago, Dale Power Solutions currently operates through two established brands, Dale and Erskine, to provide secure power and business continuity solutions to national and international customers in the petro-chem, telecommunications, rail, financial services and industrial sectors. The companies provide a comprehensive design capability service, taking initial concepts through state-of-the-art design, project management, installation and commissioning processes, followed by complete maintenance and servicing on a worldwide basis.
The business employs more than 200 people, the majority of whom are based in the UK.