•   NDSL Group engineers and manufactures proprietary remote monitoring solutions to test the health of batteries for back-up power applications within mission-critical data centers and utilities of Fortune 100 companies, government agencies, and other organizations globally
•    Mesirow acted as the exclusive financial advisor on this transaction, highlighting the firm’s continued success in the industrial technology sector 
 

CHICAGO, December 11, 2024 – Mesirow, an independent, employee-owned financial services firm, has announced it served as the exclusive financial advisor to NDSL Group Ltd. (“NDSL” or the “Company”) on its sale to RLE Technologies, a portfolio company of May River Capital. NDSL and RLE Technologies will merge to form a new May River Capital platform company, Parameter.

NDSL is a UK entity with primary operations in Raleigh, North Carolina, providing mission-critical battery monitoring solutions. The Company’s products are essential to high-stakes applications in the data center and utility markets, where power failures carry substantial economic, safety, and regulatory risks. NDSL’s trusted brands, Cellwatch and Frontier, are well-regarded in the industry for delivering high-quality battery monitoring and power reliability solutions.

“After over 35 years of involvement in growing this great business, it is bittersweet to step aside and hand over the reins of our company, thus an appropriate acquirer was essential to us. We appreciate all Mesirow’s efforts to find, what we hope will prove to be an excellent new owner, in RLE, that will continue the legacy we have built,” said John Laurie, Chairman of NDSL Group.  Earl Philmon, CEO of NDSL Group added, “Mesirow delivered exceptional support throughout the transaction, drawing on their extensive industry relationships and expertise in industrial technology to secure the ideal partner for NDSL.”

Mike Blazes, CEO of RLE Technologies added, “NDSL has built a market leadership position and a sustainable competitive position through its proprietary technology. We are thrilled to join forces with NDSL.”

Nathan Moeri, Managing Director of Mesirow Investment Banking, said, “We were honored to play a role in bringing these two great companies and teams together. We are excited to see the continued success as a combined company, bringing unique solutions to the data center market and other critical infrastructure.”

The sale of NDSL Group represents another successful industrial technology assignment completed by Mesirow Investment Banking. Mesirow Investment Banking has completed over 325 transactions in recent years across its covered verticals. Committed to leveraging extensive sector-specific expertise across industry groups and nurturing deep, longstanding relationships, Mesirow has a proven track record of completing highly tailored and successful transactions on behalf of its clients.