Oct 5, 2021

On October 4, 2021, Brunswick Corporation (NYSE: BC) announced that it has completed its acquisition of Navico, a global leader in marine electronics and sensors for $1.05 billion. 

With this acquisition, Brunswick adds the industry leading Navico 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.

Navico is a leading provider of multi-function 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.

Navico’s revenues totaled approximately $470 million for the trailing 12-month period ended May 31, 2021, with attractive revenue growth, a strong margin profile, and a capital efficient business model. Brunswick’s P&A segment accounts for about $1.5 billion – or 35 percent 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 $2.0 billion. Navico’s significant aftermarket orientation and attractive margin profile further add to Brunswick’s cycle resistant business profile.

Brunswick will be using a combination of debt and cash on its balance sheet to fund the acquisition.  Brunswick remains committed to maintaining its investment grade credit rating and at close expects its debt-to-EBITDA ratio to be approximately 1.7x on a gross basis.

“This transaction is part of our Next Wave strategy and immediately accelerates our ACES strategy and solidifies the Company’s commitment to acquire businesses that strengthen Brunswick’s ability to provide complete, innovative digital solutions to OEM customers,” said Dave Foulkes, Brunswick Corporation CEO.  Along with welcoming an accomplished and respected global workforce, we are also adding a talented, experienced, and customer-focused management team, which will remain in place and play a major role in the execution of our strategy."

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Nominate Your Boating Heroes Today - CANADIAN SAFE BOATING AWARDS

 

Be #WakeAware

The Canadian Safe Boating Council wants to acknowledge these heroes and showcase their commitment to safe boating. The CANADIAN SAFE BOATING AWARDS, usually called the CASBAs, honours the people, programs, and organizations that help to make boating in Canada safer and better for all of us.

Who are these heroes?

They could be a family or individual who saves a life; a boating safety advocate, a volunteer or teacher whose passion for boating engages people and influences boating safety...

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Shurhold Snap and Zipper LubricantWords of exasperation wafting across a marina often signal a boat owner fighting with a jammed zipper or snap that won't catch. This frustrating situation is simple to avoid by using Snap Stick from Shurhold. Made in the USA, the easy-to-apply lubricant keeps marine fittings working smoothly for up to three months and reduces stress levels around the docks.

A unique, wax-like formula, Snap Stick lubricates and protects plastic and metal snaps, zippers, hinges and other small hardware from the effects of harsh marine environment exposure. Unscented, non-toxic and biodegradable, it won't harm fabrics and other boat surfaces. Non-soluble, it doesn't rinse off when exposed to rain and spray, or boat washing. 

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HanseYachts AG announces Boris Heitmann new VP Communications & Investor Relations

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As of August 2022, Boris Heitmann (58) has taken over responsibility as Vice President Communications & Investor Relations at HanseYachts AG.

The graduate in business administration, communications manager and yachtsman brings with him many years of experience in international companies from various sectors and as an independent entrepreneur. Heitmann started his career in 1991 at the energy company Esso.

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