On March 8, 2023, Stellex Capital Management LLC acquired global gear systems specialist David Brown Santasalo (DBS) from N4 Partners. Financial terms were not disclosed. Based in Lockwood, Huddersfield, UK, DBS provided engineered industrial gear systems and services for industries such as Mining & Minerals, Fibre & Paper, Power Generation, Cement, Oil & Gas, and Defence. The company operated 26 locations across six continents and employed over 1,100 people.

David Brown Santasalo, established in the 1860s, supplied systems and services to over 6,000 customers worldwide. CEO David Armitt expressed optimism about Stellex’s investment, citing their sector experience and shared vision for DBS's growth. Karthik Achar, Partner at Stellex, highlighted DBS's expertise and long-term customer relationships, anticipating further growth and success.

Legal advisors included Brouxel & Rabia for N4 Partners, Jones Day for Stellex, and Torys as Canadian counsel for Stellex.