Navico, Goldman Sachs embarks on marine electronics

Screen B&G, brand of Navico

The marine electronics specialist Holding Navico AS is about to be acquired by Goldman Sachs Merchant Banking and the Altor Fund IV investment fund. Organic and external growth are on the agenda.

An industry leader

Navico is one of the heavyweights in the nautical electronics sector. The Holding was born from the merger of Simrad Yachting, Lowrance Electronics and Brunswick New Technologies and distributes the Lowrance, Simrad, B&G and GoFree brands.

The progressive integration of acquisitions over time has made it possible to move from six plants to one and to build a single technological platform. Navico employs approximately 1500 people and its products are sold in over 100 countries

Continue growth and investment

Goldman Sachs Merchant Banking Division and Altor Fund IV have signed a partnership to acquire Navico from Altor 2003. The objective of the new owners is to pursue internal and external growth, as well as development in the professional marine sector. The operation has yet to be validated by the regulatory authorities.

"We are pleased to continue to benefit from Altor's commitment and expertise which has supported us in our strong growth over the past 10 years," said Leif Ottosson, President and CEO of Navico. "We are excited by the growth opportunities that our new owner, strong and dynamic, will allow us to pursue in the field of boating and professional marine, for electronic equipment and digital solutions

"Navico is a great company. His track record and speed of innovation is impressive," says Michael Bruun, manager of the Merchant Banking Division at Goldman Sachs. "We look forward to working with the company in the coming years in supporting its structural growth and external acquisitions. The new owners will contribute to the financial capacity that will allow the company to raise its growth ambitions in the future."

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