Brunswick acquisition

As a result of the acquisition of Navico, Brunswick will add the brands of Lowrance, Simrad, B&G, and C-MAP to its Advanced Systems Group (ASG), which includes the Parts & Accessories (P&A) brands in power management, digital control and monitoring, and networked devices.

“The acquisition of Navico and its award-winning brands will immediately accelerate Brunswick’s ACES (Autonomy, Connectivity, Electrification and Shared-Access) strategy, and support our vision to deliver distinctive new products and technology-enabled experiences,” said Dave Foulkes, Brunswick Corporation CEO.

US$470m revenues

Navico is a privately held global company based in Egersund, Norway and co-owned by Altor Fund IV and Goldman Sachs Asset Management.

It provides multi-function displays, fish finders, autopilots, sonar, radar, and cartography. Navico’s brands serve most major powerboat and sailing markets for both recreational and commercial applications.

Navico’s revenues totalled approximately US$470m for the trailing 12-month period ended 31 May 2021, with attractive revenue growth, a strong margin profile, and a capital efficient business model.

Brunswick’s P&A segment accounts for about US$1.5bn – or 35% of total 2020 annual revenues.

With the addition of Navico, Brunswick expects its P&A businesses to have revenues on a run-rate basis exceeding US$2bn.

By Rebecca Jeffrey