Genstar Capital has made an undisclosed investment in Power Products. Based in Menomonee Falls, Wisconsin, Power Products is a maker of aftermarket electrical systems and components. It was backed by Sentinel Capital Partners.
SAN FRANCISCO, March 10, 2017 – Power Products, a leading supplier and manufacturer of a diversified portfolio of branded aftermarket electrical systems and components, today announced an investment by Genstar Capital, a leading middle-market private equity firm.
Headquartered in Menomonee Falls, WI, 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 leading brands for a variety of aftermarket and OEM customer segments in electrical construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation. Its broad portfolio of recognized brand names includes Del City, Gardner Bender, Sperry Instruments, Lenco Marine, Marinco, Mastervolt, ProMariner, BEP, and Blue Sea Systems.
Genstar Capital is investing in Power Products to support the continued expansion of the Power Product business through growth in new products and enhanced relationships with customers and channel partners. Additionally, the partnership will help support the Company with capital to accelerate growth through strategic M&A.
David Scheer, Chief Executive Officer of Power Products, said, “Genstar has a history of building industrial companies like ours, and we are impressed by their understanding of our sophisticated global operating platform and footprint. We share a similar excitement and vision about our future and feel strongly that Genstar is the right partner to support us with our strategic growth initiatives. Technical innovation remains key to our growth, and we are jointly committed to developing our technically differentiated portfolio of premium brands within diverse and growing end markets.”
Rob Rutledge, Managing Director of Genstar, said, “We see major growth opportunities to optimize Power Products’ brands, reputation, and technology. Power Products is a strong and growing company and we look forward to investments that will further expand its core segments, including entering new channels, expanding into new product arenas, and pursuing adjacent market opportunities. With Genstar’s industrial technology expertise and financial support, Power Products is positioned as the consolidator of choice in a fragmented industry.”
About Power Products
Power Products LLC, headquartered in Menomonee Falls, Wisconsin, is a global, diversified electrical products platform with manufacturing operations and distribution facilities in North America, Europe, and in Asia Pacific. The Power Products portfolio consists of leading brands and more than 25,000 products for a variety of aftermarket and OEM customer segments in electrical construction and maintenance, recreational marine and specialty vehicles, industrial power, and transportation. For more information, visit http://www.powerprodllc.com/en
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the industrial technology, healthcare, financial services, and software industries.