Dartmouth-based DynaGen Technologies Inc., which manufactures rugged control panels for industrial engines, has been acquired by the American company Cattron for an undisclosed sum.
Dynagen put out a statement on Tuesday saying the sale has closed after it was approved by the Dartmouth company’s board and shareholders.
Based in Warren, Ohio, Cattron has been in operation since 1946 and has more than 300 employees based in eight locations around the world. It is owned by St. Louis-based private equity firm Harbour Group, which has a portfolio of 212 companies, mainly focused on manufacturing and distribution.
“I’m so proud of the team at DynaGen for what they have accomplished,” said Paul Wareham, who founded Dynagen in Sydney in 1993. “I look forward to watching them grow and prosper together with Cattron. They are truly world class and now they are ready to take the company global.”
DynaGen makes rugged control panels to start, monitor, and protect industrial engines and generators, supplying them to original equipment manufacturers in several export markets.
A year ago, serial entrepreneur Jamie Davison became the chief executive and saw a huge potential to grow the company with a larger partner.
“It was apparent early on that an acquisition by a strong industry player could propel the brand and its products to the world stage and would be the right catalyst for growth,” said Davison. “We met with a number of potential suitors but Cattron stood out as the obvious choice for DynaGen and its team.”
DynaGen said in the statement that the deal will help the DynaGen portfolio of products to reach a global audience and accelerate growth by leveraging Cattron’s production and distribution, global team and complementary control solutions.
Cattron delivers hardware-to-machine controls in more than 50 countries around the world.
“DynaGen brings trusted engineering, product design and application expertise to a vital customer base,” said Cattron CEO Ryan Wooten. “Beyond generator control, the company has made great strides in offering users flexible and powerful telemetry capability. . . . DynaGen is a strong strategic complement and will enable us to broaden our addressable market.”