Dartmouth’s Dynagen sold to American company

Dynagen Technologies Inc. of Dartmouth has been sold to Cattron, a company described as a leader in highperformance wireless connectivity and control solutions based in Warren, Ohio.

A producer of rugged control panels to start, monitor and protect industrial engines and generators, Dynagen was founded in Sydney in 1993 by Paul Wareham. It provides controls for industrial, mobile and marine equipment.

Dynagen CEO Jamie Davison said in an interview that the company has 11 employees and management had started considering its options for future growth about a year ago.

Although Dynagen management considered expanding the company on its own, he said, it became apparent early on that an acquisition by a strong industry player could propel the brand and its products to the world stage and be the right catalyst for growth.

“We didn't have to go with acquisition ... but it came down to four companies and we started negotiations with Cattron in April-may,” Davison said.

COVID-19 didn't play a role in Dynagen's decision, according to Davison.

“It did make negotiations more challenging, though.”

The transaction was approved by Dynagen's board and shareholders, although terms of the deal were not made public.

Cattron has been in operation since 1946 and has more than 300 employees in eight locations around the world. It is owned by Harbour Group, a private equity group owned by the Fox family, based in St. Louis, Mo.

“In talks I've had with the Cattron CEO (Ryan Wooten), he said they want to grow the business from here in Nova Scotia,” Davison said.

Dynagen has been selling mainly into the United States, he said. With it now becoming part of Cattron, it pushes the Dynagen portfolio to reach a larger, global audience and leverages Cattron's production and distribution network.

According to the St. Louis Business Journal, Harbour Group acquired Cattron Holdings, as well as Roswell, Georgia-based engine controls maker LOFA Industries, in March 2019. Harbour Group merged the businesses in June this year to form its Control Solutions Group, which now also includes Dynagen.

The business publication describes Harbour Group as a holding company that buys manufacturing, distribution and specialty services companies. It has acquired 212 companies in 47 industries since it was founded in 1976.

With 2019 revenue of US$1.3 billion, Harbour Group is considered one of the St. Louis region's largest privately held companies, the business journal reported.