Dale Power Solutions completes management buyout with private equity firm £9m investment
NVM Private Equity has completed a £9m investment for a majority stake in the management buyout of Dale Power Solutions, the Scarborough-headquartered power services provider.
Dale serves organisations in a wide range of sectors including telecoms, healthcare, oil and gas and utilities, as well as the power distribution network itself.
The investment is NVM’s first management buyout from NVM Private Equity Vintage III LP.
Dale employs more than 270 people across the UK, including a nationwide team of more than 70 service engineers.
Tim Wilkins, Dale’s CEO, has more than 30 years experience in the power sector. The executive team is complemented by chairman, Denzil Lee, who will continue in the role following the MBO.
Investment partners James Arrowsmith and Mauro Biagioni led the deal for NVM. James will join the board as a non-executive director with immediate effect.
Denzil Lee, executive chairman of Dale Power Solutions, said: “The team at Dale is excited with the new opportunity of working with NVM to further develop our core business and exploit the significant opportunities in the new and fast developing energy storage sector.
“NVM throughout the process have worked closely with the team to understand the business and we have already developed an excellent working relationship which will help us greatly in exploiting the business opportunities.”
James Arrowsmith, investment partner at NVM, commented: “We have been very impressed with the team at Dale, who have done a great job in building a high quality business providing power solutions and services which are critical to a wide range of organisations in the UK and abroad.
“We are looking forward to working with Denzil, Tim and the rest of the team to take advantage of new market opportunities whilst continuing to build on the core business. There is scope for significant growth over the next few years and we are very excited about the business’s future under NVM’s ownership”.
Reflecting on the completion of NVM’s first investment using funds from NVM Private Equity Vintage III LP, NVM’s managing partner, Martin Green added: “I am delighted that we have been able to support management in the buyout of Dale.
“It is a quality business led by a strong management team who have demonstrated their ability to adapt to changing market conditions and the prospects for the business in the evolving UK power market are exciting.”