- Based in Fort Collins, Colorado, RLE Technologies is a provider of facility environment monitoring, fluid leak detection, and airflow management products
- Based in Chicago, May River invests in lower mid-market, industrial growth companies
RLE Technologies, which is backed by May River Capital, has acquired NDSL Group Ltd., a Raleigh-Durham, North Carolina-based manufacturer of Cellwatch and battery monitoring and management solutions for data centers, utilities, and telecom markets. No financial terms were disclosed.
The two companies will merge as a new platform company, Parameter.
Based in Fort Collins, Colorado, RLE Technologies is a provider of facility environment monitoring, fluid leak detection, and airflow management products.
On the deal, Dan Barlow, a May River Capital partner, said in a statement, “We are excited to unite the deep teams and resources of NDSL and RLE under the Parameter banner. This merger strengthens our ability to best serve the critical infrastructure monitoring and detection needs of our customers.”
Mesirow Financial and Laytons LLP served as financial advisor and legal counsel to NDSL, respectively. Livingstone Partners LLC and Paul Hastings LLP served as financial advisor and legal counsel to May River Capital, respectively. Tree Line Capital Partners provided debt financing in support of the acquisition.
Based in Chicago, May River invests in lower mid-market, industrial growth companies.
