Caledonia Investments in £162m deal for DSE

Wealth manager Caledonia Investments has completed the £162 million acquisition of a major electronics group.

The firm, which is 48.5% owned by the Cayzer family who have strong links to Angus, has bought over Deep Sea Electronics (DSE) of Yorkshire, a leading designer and manufacturer of controllers for diesel-powered electricity generators and intelligent battery chargers.

Duncan Johnson, Caledonia’s head of unquoted investments, said: “DSE’s consistently strong profitability, high cash generation and leading market position ideally fit our unquoted pool’s investment criteria.

“We believe there are exciting opportunities to build further on DSE’s excellent record and to expand its global presence.”

DSE co-owners Ed Sheader and Stan Archer said: “As co-owners of DSE for nearly 40 years, we were keen to find a buyer who would be committed to the long-term development of the business and secure employment opportunities for the workforce.

“We are therefore delighted to pass the company on to Caledonia, with its backing by the Cayzer family and reputation as a long-term, supportive investor.”

Caledonia can trace its roots back to the shipping empire established by Sir Charles Cayzer in 1878.

The group manages net assets of £1.8 billion through a concentrated portfolio of international investments and funds.