Caledonia has sold DSE to Generac Inc

Caledonia Investments plc has sold its majority stake in DSE, a leading provider of backup power control systems, to Generac Holdings Inc for £242m.

Caledonia Private Capital originally invested in DSE in 2018. Under Caledonia’s ownership and David Thomson’s leadership, DSE has grown strongly, building end market share for its core control systems as well as developing controls to enable next generation renewable power systems.

Caledonia Private Capital’s strategy is to invest in leading businesses with quality management teams, where enduring value can be built over the longer term.