Dale Power Solutions was established more than 75 years ago and operates through two brands, Dale and Erskine. The firm’s bespoke generators and UPS systems (uninterruptible power supply units) are manufactured at its two factories in Scarborough.
The two brands offer emergency power generation to operations which cannot tolerate power interruption such as data centres, financial institutions, transport and hospitals.
Dale Power Solutions, which has an annual turnover of more than £30m, employs more than 200 people. It also has a presence in overseas markets, particularly the Middle East, where it has an operation.
LDC, which is part of Lloyds, the taxpayer-supported bank, said it would not disclose details of its shareholding in the company. LDC has backed Dale Power Solutions’ existing management team, which is led by chief executive Tim Wilkins. As part of LDC’s investment strategy, the existing management team will be joined by Denzil Lee, who has been appointed as chairman.
Mr Lee has worked in private equity-backed companies for a number of years.
TT electronics said it sold Dale Power Solutions as it was not part of its core electronics business.
Mr Wilkins said: “LDC’s investment brings additional strategic input and financial backing to our business and will help us to deliver our ambitious growth plans. As well as increasing the pace of organic growth across our core brands, we are keen to pursue appropriate acquisition opportunities both in the UK and internationally and in related product areas.”