DelCam Capital acquires Space Age Electronics to bolster US manufacturing of safety equipment
DelCam Capital, a private equity firm based in Massachusetts known for its specialization in acquiring niche family-owned manufacturing businesses, has announced its acquisition of Space Age Electronics, Inc., a prominent manufacturer of fire and life safety equipment. This acquisition serves as the first platform acquisition for DelCam Fund II and is a strategic move to strengthen manufacturing sectors within the United States.
Steve Trotta, Managing Partner at DelCam Capital, highlighted the significance of this acquisition: “Space Age Electronics represents an ideal addition to our growing portfolio, aligning perfectly with our strategic vision of building a larger enterprise dedicated to manufacturing top-tier fire and life safety equipment in America.” He emphasized that this move not only strengthens DelCam’s market position but also underscores its commitment to quality and innovation in the manufacturing sector.
Joe Mongeau, the former President of Space Age Electronics, expressed his family’s approval of the acquisition, noting DelCam’s ethics and approach resonated with their family values, which reassured them that the company’s legacy and employee welfare would continue to be a priority under new ownership. In a notable move to foster employee loyalty and dedication, DelCam Capital has initiated an employee ownership plan where all Space Age Electronics employees will become owners in the enterprise. “We believe in empowering our employees by making them true partners in our journey. This ownership initiative will drive engagement and align interests across the board, ensuring long-term success and commitment,” Trotta added.
Following the acquisition, Matt Grady, the current COO of Space Age Electronics, will assume leadership responsibilities. Trotta praised Grady’s deep understanding of the operations and his visionary leadership, which are deemed vital for the company’s future growth and innovation.
DelCam Capital, which primarily focuses on family-owned businesses in New England, continues to support high-growth companies. The firm is backed by a diverse investor base that includes high-net-worth individuals, professional athletes, and family offices. Currently, DelCam is actively raising additional capital to expand DelCam Fund II, aiming to further enhance its impact on regional and national manufacturing sectors.
The acquisition of Space Age Electronics by DelCam Capital represents a significant strategic expansion that not only enhances DelCam’s portfolio but also reinforces the manufacturing of critical safety equipment in the U.S. This move is likely to set a positive precedent for private equity involvement in bolstering niche manufacturing sectors, demonstrating a commitment to both business growth and employee empowerment.