“Dynapower, a US manufacturer of energy storage and power conversion system (PCS) equipment, will be acquired by Sensata, a maker of industrial sensors.
In a deal announced yesterday, Sensata has agreed to buy Dynapower for US$580 million from the current owner, private equity group Pfingstein Partners. The cash deal is expected to complete in Q3 2022, subject to regulatory approvals and other closing conditions.
Sensata is making a big push to generate a targeted US$2 billion in revenues from activities relating to electrification by 2026 and has already made a number of other acquisitions in this area. The company said Dynapower is projected to earn revenue of about US$100 million during this year, with EBITDA margins of about 20%.
Dynapower makes a range of different equipment, from inverters and converters to rectifiers and custom transformers to customers involved in renewable energy generation, electric vehicle charging infrastructure, green hydrogen and microgrids as well as industrial and defence sectors.
In the stationary energy storage space it is perhaps best known for its PCS technologies, with the company’s DC-to-DC converters used in US battery storage manufacturer Powin Energy’s grid-scale DC-coupled solar-plus-storage solutions, for example.”
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Colthorpe, Andy. Energy Storage 27 April 2022.