Brunswick to Acquire Navico for $1B

Brunswick Corporation participated in a conclusive contract to obtain Navico for $1.05 billion, offering Brunswick’s Advanced Systems Group (ASG) widely known aquatic electronic devices brand names such as Lowrance, Simrad, B&G and also C-MAP.

“The purchase of Navico and also its acclaimed brand names will quickly speed up Brunswick’s ACES (Autonomy, Connectivity, Electrification and also Shared-Access) method, and also sustain our vision to provide distinct brand-new items and also technology-enabled experiences,” stated Dave Foulkes, Brunswick Corporation CHIEF EXECUTIVE OFFICER.

“We will continue to invest both in organic initiatives and acquisitions to maintain our position of global product leadership, and the addition of Lowrance, Simrad, B&G and C-MAP to our existing brand portfolio will further strengthen our ability to provide complete, innovative digital solutions to consumers and comprehensive, integrated systems offerings to our OEM customers.”

Navico is an independently held international business based in Egersund, Norway and also co-owned by Altor Fund IV and also Goldman Sachs Asset Management.It is a leading service provider of multi-function screens, fish finders, auto-pilots, finder, radar, and also cartography. Navico’s solid brand names offer most significant powerboat and also cruising markets for both entertainment and also industrial applications.

Navico’s incomes amounted to around $470 million for the tracking 12-month duration finished May 31, 2021, with eye-catching earnings development, a solid margin account, and also a resources effective company design. Brunswick’s P&A section represent around $1.5 billion – or 35 percent of overall 2020 yearly incomes. With the enhancement of Navico, Brunswick anticipates its P&A companies to have incomes on a run-rate basis surpassing $2.0 billion. Navico’s substantial aftermarket positioning and also eye-catching margin account even more contribute to Brunswick’s cycle immune company account.

J.P. Morgan Securities LLC is acting as the special economic expert to Brunswick Corporation and also is offering dedicated funding; Baker McKenzie and also Schj ødt are acting as lawful guidance to Brunswick Corporation on the deal.

Goldman Sachs Bank Europe SE, Sweden Bankfilial, and also Carnegie worked as economic consultants to Altor, Goldman Sachs Asset Management and also Marine Innovations Group AS; Sullivan & & Cromwell and also Wiersholm supplied lawful consultatory solutions on the deal.

The closing of the deal is prepared for throughout the 2nd fifty percent of 2021 and also goes through normal and also traditional closing problems in addition to governing evaluation and also authorization.

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