DelCam Capital, a private equity firm based in Massachusetts, has completed the acquisition of Space Age Electronics, a notable company in the fire and life safety equipment sector.
This acquisition is the first for DelCam’s Fund II and aims to strengthen manufacturing capabilities in the United States.
Steve Trotta, Managing Partner at DelCam Capital, highlighted the strategic fit of the 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,” said Trotta.
“This acquisition strengthens our market position and emphasizes our commitment to quality and innovation in the manufacturing sector.”
Joe Mongeau, the former President of Space Age Electronics, commented on the cultural alignment between the two companies during the transition.
“DelCam’s approach and ethics resonate strongly with our family’s values, giving us confidence that they will continue to nurture our employees and uphold the legacy that our family has carefully built over the past 60 years,” said Mongeau.
In a move to foster employee engagement and loyalty, DelCam Capital introduced an initiative that will see all employees of Space Age Electronics becoming owners in the company.
“We believe in empowering our employees by making them true partners in our journey,” Trotta explained.
“This ownership initiative will drive engagement and align interests across the board, ensuring long-term success and commitment”
Following the acquisition, leadership responsibilities will transition to Matt Grady, the current COO of Space Age Electronics.
“Matt’s deep understanding of our operations and his visionary leadership are vital as we embark on this new chapter,” added Trotta.
DelCam Capital, which focuses on acquiring family-owned businesses, particularly in New England, continues to attract investments from high-net-worth individuals, professional athletes, and family offices.
The firm is actively seeking additional capital to expand its operations under DelCam Fund II.
