Brunswick Corporation has entered into a definitive arrangement to acquire Navico, a world-wide chief in maritime electronics and sensors for $1.05 billion. As a result of this acquisition, Brunswick will increase the industry major brands of Lowrance, Simrad, B&G, and C-MAP to its Sophisticated Techniques Group (ASG), which involves the primary Components & Add-ons (P&A) brands in power administration, digital control and monitoring, and networked devices.

“The acquisition of Navico and its award-profitable models will right away accelerate Brunswick’s ACES (Autonomy, Connectivity, Electrification and Shared-Access) system, and assistance our eyesight to deliver distinctive new products and solutions and technological innovation-enabled activities,” explained Dave Foulkes, Brunswick Corporation CEO, in a firm push launch.  “We will keep on to commit each in natural and organic initiatives and acquisitions to maintain our placement of global products management, and the addition of Lowrance, Simrad, B&G and C-MAP to our current brand portfolio will more reinforce our ability to supply comprehensive, modern electronic options to buyers and extensive, built-in units offerings to our OEM clients.”

Navico is a privately held international corporation dependent in Egersund, Norway and co-owned by Altor Fund IV and Goldman Sachs Asset Management. It is a supplier of multi-operate displays, fish finders, autopilots, sonar, radar, and cartography. Navico’s potent brand names serve most important powerboat and sailing marketplaces for the two recreational and professional purposes.

Navico’s revenues totaled roughly $470 million for the trailing 12-month time period ended May perhaps 31, 2021, with desirable revenue advancement, a robust margin profile, and a capital effective business product. Brunswick’s P&A segment accounts for about $1.5 billion – or 35% of full 2020 once-a-year revenues. With the addition of Navico, Brunswick expects its P&A companies to have revenues exceeding $2. billion. 

“After a strong interval of expansion, we are extremely excited about signing up for the Brunswick loved ones to even further fortify our supplying and guidance our prospects heading forward.” said Knut Frostad, Navico’s President and CEO. “On behalf of absolutely everyone at Navico, we can’t hold out to commence our journey with Brunswick and share our enthusiasm and dedication with their workforce. By performing with each other, we will be ready to supply a distinctive and built-in purchaser practical experience.”

The closing of the transaction is predicted in the course of the next half of 2021 and is issue to regular and customary closing problems as effectively as regulatory overview and acceptance.