Sentinel Capital Partners, a private equity firm that invests in promising companies at the lower end of the middle market, has sold Power Products, a provider of branded electrical products and systems.
Details of the transaction have not been disclosed.
Headquartered in Menomonee Falls, Wisconsin, Power Products designs, manufactures, and distributes branded electrical tools, components, and power conversion products and solutions. Power
Products primarily serves the electrical construction, repair and remodel, marine and recreation, industrial, power, and transportation end markets. Power Products owns a broad portfolio of brands including BEP, Blue Sea Systems, Del City, Gardner Bender, Lenco Marine, Marinco, Mastervolt, ProMariner, and Sperry Instruments.
“We are very proud of what was accomplished in partnership with Power Products’ incredibly talented management team,” says Eric Bommer, a partner at Sentinel. “Following the carve-out of Power Products from Actuant Corporation in 2013, together with management, we were able to create a robust, standalone business, refocus it strategically through several acquisitions and divestitures, and reduce its overall complexity. Power Products has excelled over the past three years, and we are confident they will continue to succeed under the leadership of existing management.”
Power Products’ CEO David Scheer, an electrical industry veteran who has served as its head since 2011, says: “We thank Sentinel for a very rewarding partnership over the past three years. Together, we built Power Products into a world class business with a leading portfolio of brands and positioned it well for long-term growth.”
The past year has been highly productive for Sentinel. Besides exiting Power Products, Sentinel made six new platform investments, including: Altima Dental, the largest dental services organisation in Canada; Cabi, a direct marketer of women’s fashion apparel; The Luminaires Group, a North American manufacturer of specification-grade lighting products; Quick Weight Loss Centers, a multistate provider of weight loss management services; Revenew International, a provider of cost recovery and cost containment services; and SONNY’S Enterprises, a provider of conveyorized car wash systems.
