New owners at power grid firm after £9m MBO
Dale Power Solutions, based in Scarborough, has provided secure systems that ensure that power sources are reliable for clients across the UK for more than 80 years. Since 1935 its clients have included NEC, Siemens, National Grid, ISG, Mitie, Vodafone and Thames Water.
The firm employs more than 270 professionals across the country, including 70 service engineers who serve the nation.
A team led by the firm’s chief executive Tim Wilkins, who has worked in the power sector for more than 30 years, successfully completed the buyout thanks to £9 million of funding provided NVM Private Equity. The team was supported by Denzil Lee, Dale’s chairman, who will continue in the role following the MBO.
The firm’s management team say that the MBO will allow the firm to expand to meet new opportunities, with sectors such as energy storage expected to complement Dale’s already strong growth in its core business. Capital provided by NVM will also allow the firm to consolidate its position through new acquisitions.
Lee said he and the rest of the Dale team were excited to work with NBM to “exploit the significant new opportunities” in a fast-growing and evolving energy storage sector.
He added: “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, added: "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.
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