Navico

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Navico
Aksjeselskap
Industry Marine electronics
Founded 2006
Headquarters Egersund, Norway
Key people
Leif Ottosson, president & CEO[1]
Revenue Increase $320 Million USD (2006)
Owners Altor Equity Partners (88.15%)
Kongsberg Maritime (8.28%)
Others (3.57%)
Number of employees
2,500 (2008)
Website www.navico.com

Navico is the 2nd largest developer, manufacturer and distributor of marine electronics for the recreational market, based on 2015 sales.[2]

The company was created in March 2006 through the merger of Simrad Yachting and Lowrance Electronics by their common owners, Altor Equity Partners, a Swedish private equity firm. Navico acts as the parent to five distinct and well-known leisure marine brands: B&G, Eagle, Lowrance, Northstar and Simrad Yachting.

Navico has its headquarters in Egersund, Norway, and the group has manufacturing facilities in the United States, UK, Norway, Mexico and New Zealand.

Time line[edit]

1985 - rebranded from Euromarine to Navico and moved to Star Lane Margate in Kent UK

2005 – Altor 2003 Fund acquires Simrad Yachting AS from Kongsberg Group

2006 (March) – Altor 2003 Fund acquires Lowrance Electronics Inc (incorporating Lowrance and Eagle)

2006 (September) – Navico is created by the merger of Simrad Yachting Inc and Lowrance Electronics Inc

2007 – Navico acquires the marine electronics division of Brunswick New Technologies Inc – bringing the Northstar, Navman (marine) and MX Marine brands into the group.

2008 – The Navman marine range is integrated into the Northstar product family in line with the terms of the original acquisition agreement.

2008 – The MX Marine range is merged into Simrad Yachting

Brand summaries[edit]

B&G[edit]

Formerly Brookes and Gatehouse, B&G was founded over fifty years ago and manufactures advanced instrumentation systems for sailing yachts. B&G systems are used by competitive raceboats as well as amateur sail racers and sailing superyachts. The B&G range encompasses instruments, pilots and navigation equipment, plus tactical racing software and other high-end performance measurement and analysis solutions.

Eagle[edit]

Eagle is a popular brand of marine electronics headquartered in the USA. The Eagle range of products focuses on fishfinders and navigation instruments specially developed for coastal waters and inland lakes. Eagle manufactures fishfinders and chartplotters as standalone and combined units.

Lowrance[edit]

Lowrance Electronics has been a major manufacturer of maritime electronics for over fifty years. The Lowrance range of products includes fishfinders, chartplotters, marine VHF radios and handheld GPS units. Markets include the automotive, aviation and outdoor sectors as well as angling and recreational boating enthusiasts. The company has a long-standing reputation for product development and innovation.

Northstar[edit]

The Northstar brand has a 35-year history and is a major manufacturer of navigation systems for boats of all sizes. Northstar has particular expertise in the development of integrated navigation systems, and also has a reputation for designing units that are stylish as well as capable. In 2008 the Navman marine electronics line, acquired along with Northstar by Navico in 2007 as part of its purchase of Brunswick New Technologies Inc, was rolled into the Northstar product family.

Simrad Yachting[edit]

Simrad Yachting traces its roots back over sixty years ago when its founder patented new wireless communications for fishing vessels. Simrad Yachting is now a major marine electronics brand which manufactures a wide range of instruments for recreational craft and coastal commercial vessels. The Simrad Yachting range includes integrated navigation systems, communications equipment, autopilots, safety electronics and GPS / DGPS systems under the MX Marine brand.

References[edit]

  1. ^ "Navico Appoints New President & CEO". Retrieved 2007-09-23. 
  2. ^ "Marine bridge system industry valued at US$3.2 billion". Marine Electronics & Communications. June 13, 2016.