Brunswick to Acquire Navico

Brunswick Corporation has announced that it has entered into a definitive agreement to acquire Navico, a global leader in marine electronics and sensors, for $1.05 billion.

As a result of this acquisition, Brunswick will add the industry leading brands of Lowrance, Simrad, B&G and C-MAP to its Advanced Systems Group (ASG), which includes the leading 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.

“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 a privately held global company based in Egersund, Norway and co-owned by Altor Fund IV and Goldman Sachs Asset Management. It is a leading provider of multifunction displays, fish finders, autopilots, sonar, radar and cartography. Navico’s strong brands serve most major powerboat and sailing markets for both recreational and commercial applications.

The electronics company’s significant aftermarket orientation and attractive margin profile further add to Brunswick’s cycle resistant business profile.

The closing of the transaction is anticipated during the second half of 2021 and is subject to usual and customary closing conditions, as well as regulatory review and approval. <BOLD> - Navico