August 3, 2022
On August 3, 2022, Brunswick Corporation (NYSE: BC) announced the formation of Navico Group, which will replace its current Advanced Systems Group (ASG). Navico Group will continue to be led by Brett Dibkey and represents a complete organizational integration between the legacy ASG business with two key acquisitions that were completed in late 2021 – Navico and RELiON Battery LLC.
The newly formed Navico Group will be comprised of numerous industry leading brands that serve the marine, RV, specialty vehicle, and industrial markets. Some of the many brands that make up Navico Group include: Ancor, Attwood, B&G, BEP, Blue Sea Systems, C-MAP, CZone, Garelick, Lenco, Lowrance, Mastervolt, Marinco, MotorGuide, Progressive Industries, ProMariner, RELiON, Simrad, and Whale.
“The establishment of Navico Group is the next step in cementing its position as the world’s leading supplier of integrated systems and products to industries ranging from marine to recreational vehicle and beyond,” said Dave Foulkes, Brunswick Corporation CEO. “There is no other organization in these industries that can create the same integrated onboard and offboard system solutions necessary to move these industries forward.”
“Combining the powerful history of the Navico brand with the innovative reputation of Advanced Systems Group not only bolsters our ACES strategy but will provide a clear and consistent identity that will help align our internal and external stakeholders,” said Dibkey. “Today’s announcement is a reaffirmation of our commitment to embrace our role as innovation leaders dedicated to advancing and reshaping the industries in which we compete.”
Navico Group’s newly integrated operating model will be underpinned by the formation of four strategic business units with clear growth strategies:
• Power Systems – Developing energy storage, conversion, and delivery solutions for a variety of end-market applications, including ICE generator replacement and marine propulsion.
• Digital Systems – Seamlessly integrating command & control experiences on- and off-board.
• Fishing Systems – Delivering the “ultimate fishing system” by integrating on-board systems that help anglers catch more fish.
• Performance Components – Building a portfolio of P&A products across multiple categories (fuel systems, lighting, seating, vessel stabilization, water management, etc.) that service multiple end markets.
Navico Group will participate in all regions around the world under the direction of three regional presidents—Marty Bass (Americas), Ton de Winter (EMEA), and Jarrod Sagar (APAC).
“The regional go-to-market teams led by these accomplished leaders will be focused on optimizing operating infrastructure, streamlining, simplifying customer interactions, and meeting the needs of a diverse customer base,” said Dibkey.
Additional details about Navico Group will be unveiled during a media lunch at the 2022 IBEX Show on September 27 from 11:30am-1pm. More information about that event will be announced soon.
