Dometic acquires Enerdrive
Dometic entered into an agreement to acquire Enerdrive, an Australian-based provider of mobile power products for the outdoor market. The range includes solar power solutions, batteries, and battery chargers that are sold to a broad customer range across RV, CPV and Marine. The company has a large service and aftermarket network of more than 1,200 dealers.
According to Dometic, 2020 net sales were approximately $28 million “with a good operating margin”. The company is privately owned, has 45 employees and is headquartered in Brisbane, Australia.
Dometic said market demand for sustainable and effective off-grid mobile power solutions is rapidly increasing as more people spend time outdoors using a vehicle or boat as the base. The acquisition of Enerdrive broadens Dometic’s offering and distribution network in the Pacific region and increases the company’s presence and know-how in the fast-growing solar power market.
“I am pleased to welcome Enerdrive and its employees to Dometic. With Enerdrive we are strengthening our product offering and distribution network in the fast-growing area of power solutions for the outdoor lifestyle,” said Juan Vargues, President and CEO of Dometic. “Our strategy for profitable expansion in mobile living is built on a combination of organic and acquisitive growth. Enerdrive is our third announced acquisition this year and our pipeline of potential acquisitions in the near future remains strong.”
Dometic said the acquisition is fully financed via cash on hand, with the transaction price undisclosed. Closing is expected to take place during the second quarter of 2021. The Enerdrive business will be reported as part of the Asia Pacific segment.