Dometic entered an agreement to acquire Australian-based mobile power product supplier Enerdrive.
Dometic said the transaction strengthens its mobile power product offerings, including solar power solutions in the Pacific region’s outdoor market. Privately-owned Enerdrive saw 2020 net sales reach approximately $22 million.
“I am pleased to welcome Enerdrive and its employees to Dometic,” company President and CEO Juan Vargues said. “With Enerdrive, we are strengthening our product offering and distribution network in the fast-growing area of power solutions for the outdoor lifestyle. 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.”
Enerdrive has more than 1,200 dealers in its service and aftermarket network. The company has 45 employees and is headquartered in Brisbane, Australia.
Dometic noted the acquisiton was funded fully via cash on hand. Transaction details were not disclosed. Closing is expected to take place during 2021’s second quarter. The Enerdrive business will be reported as part of segment Asia Pacific.
