Caledonia in exclusive talks to buy Deep Sea Electronics

The North Yorkshire company has been marketed based on EBITDA of £14-15m in a process run by GCA Altium.

Information memorandums were released in the summer with the sale process targeting private equity bidders.

Deep Sea is looking to grow through the introduction of new products and by increased geographic coverage around the world, according to accounts filed with Companies House. It posted £38m in turnover for the year ending 31 May 2018, according to the filings.

Deep Sea manufactures generator controllers, auto transfer switch controllers and battery switches. It employs 140 people and sells its products in 150 countries. The company was founded by CEO Ed Sheader in 1975.

Deep Sea and Caledonia declined to comment.

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• Buyouts
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• Caledonia Investments