Private equity firm Genstar Capital announced the signing of a definitive agreement to sell Power Products to Brunswick Corp. for $910 million in cash.
According to a press release, Power Products’ Global Marine and Mobile business is a supplier of marine and mobile electrical components and power management systems. Its engineered electrical systems help build and maintain recreational boats as well as power recreational, specialty and emergency vehicles worldwide.
Power Products’ range of electrical devices for marine, RV, specialty vehicle and industrial markets include preeminent brands such as Ancor, BEP, Blue Sea Systems, CZone, Del City, Lenco Marine, Marinco, Mastervolt, Park Power, Progressive Industries, and ProMariner.
Rob Rutledge, managing director of Genstar, said, “After having worked with CEO David Scheerand his team over the past 18 months to build out and expand the Power Products business, we are pleased that Brunswick recognizes the strength of the Global Marine and Mobile business as well as its future potential.
The Electrical Construction Maintenance (ECM) business is excluded from the sale. ECM consists of a portfolio of brands serving the electrical maintenance and repair, lighting and irrigation markets.