DPW Technology Group, a business unit of DPW Holdings that manufactures specialty components and engineers various systems for the defense sector, has been renamed Gresham Worldwide.
Jonathan Read will lead Gresham Worldwide as CEO and oversee its component organizations — Microphase, Gresham Power Electronics and Enertec Systems 2001– DPW said Tuesday.
Read said the rebranded entity plans to raise capital and generate revenue via orders under life cycle management programs across the defense, aerospace and commercial markets.
He added that Gresham Worldwide is looking to pursue growth opportunities and acquire small to midsize defense companies.
The Phoenix-based business, which reported a backlog of orders worth potentially $41M combined, partnered with investment bank ThinkEquity in efforts to establish a presence in the public markets
DPW noted it intends to keep an ownership position at Gresham Worldwide and may dividend shares of Gresham Worldwide to DPW shareholders.