Caledonia Investments has sold an 84.2% stake in portfolio company Deep Sea Electronics (DSE) to listed US-based company Generac Holdings for £242.2m.
North America-focused fund held a first close in June 2020 and has made 20 investments
Paragon Partners will own a 55% in the newly formed entity following the carve-out
FPE acquired the assessment software in 2016 and has sold it to Battery Ventures' Learnosity
Company was reportedly marketed based on EBITDA of €16m