Veethree Group, specialist manufacturer of gauges, displays and switching systems, have appointed Motocraft as their Greek distributor for their new Veethree Universal Engine Monitors (UEMs)

Alex Zeis, Motocraft Managing Director says “We are pleased to have been given the responsibility to introduce the new Veethree UEM range to the Greek market where we see good opportunities for sales through both our OEM and Aftermarket customers”

Paul Woodlock, European Sales Manager of GMA who are responsible for Veethree sales in Europe said “We recognise that the Motocraft team have strong connections in both the leisure and commercial marine markets in Greece and so with the UEM being the next generation of Veethree’s established engine monitor products, with upgraded graphics, and additional value-added features, we are pleased to see Motocraft chose to add these to their portfolio”

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Closed on Monday 16/8/2021.

 We would like to inform you that our company will be closed on Monday 16/8/2021.

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Brunswick to Acquire Navico

Brunswick Corporation (NYSE: BC) today 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 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.

“After a strong period of growth, we are very excited about joining the Brunswick family to further strengthen our offering and support our customers going forward.” said Knut Frostad, Navico’s President & CEO. “On behalf of everyone at Navico, we cannot wait to begin our journey with Brunswick and share our passion and dedication with their team. By working together, we will be able to deliver a unique and integrated customer experience.”

“Brunswick’s Advanced Systems Group has unparalleled global reach and the addition of Navico solidifies our commitment to creating an unmatched boater and OEM experience,” said Brett Dibkey, Advanced Systems Group president. “We have a very broad product portfolio, ranging from general marine products to power management solutions and we will leverage the unique expertise of each brand to generate revenue and operating synergies to promote growth for both ASG and Navico.  We are also adding a talented, experienced, and consumer-focused management team, which is expected to remain in place and play a major role in the execution of our strategy."

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.

J.P. Morgan Securities LLC is serving as the exclusive financial advisor to Brunswick Corporation and is providing committed financing; Baker McKenzie and Schjødt are serving as legal counsel to Brunswick Corporation on the transaction.      

Goldman Sachs Bank Europe SE, Sweden Bankfilial, and Carnegie acted as financial advisors to Altor, Goldman Sachs Asset Management and Marine Innovations Group AS; Sullivan & Cromwell and Wiersholm provided legal advisory services on the transaction.

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.

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New partnership with Current Scientific Corporation

We are pleased to announce our new partnership with Current Scientific Corporation. 

Βased in Vancouver, BC, Canada, Current Scientific Corporation is the manufacturer of electro-optical infrared systems, used in the Naval & Defence sector and the Marine & Yacht industry.

Their EO/IR cameras and night vision systems are installed worldwide on Coast Guard ships, Offshore Patrol Vessels (OPV), Search and Rescue vessels (SAR), High-Speed Craft (HSC), Fast Patrol Vessels, Research vessels and Superyachts. In addition, the EO/IR systems are deployed internationally for coastal surveillance. Current Scientific Corporation continually invest in R&D for a diverse range of applications including anti-piracy, marine mammals and whale spout detection, extreme weather search and rescue and oil spill detection. Our premium camera systems provide the highest quality commercially available images in the industry.

The Night Navigator™ Series provides the best vision ever for all marine and naval defence applications.

Check out all systems here

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Mercury SmartCraft Connect expands VesselView functionality to Garmin and Raymarine displays

With the all-new SmartCraft® Connect module, the Mercury VesselView® experience is now expanding to meet the needs and preferences of even more of your customers. SmartCraft Connect integrates Garmin® and Raymarine® multi-function displays with SmartCraft engines to deliver VesselView functionality on the same screen as the GPS chart plotter and sonar.

This marks the first time that VesselView integration has been available for Garmin and Raymarine, which join fellow industry leaders Lowrance® and Simrad® as SmartCraft-compatible brands.

The VesselView expansion gives your customers more freedom to choose the devices that work best for their boating activities, while having easy access to more engine performance data and alerts than any other engine-monitoring system in the marine industry. VesselView tracks rpm, speed, fuel flow, temperature, trim and more and delivers critical engine alerts when needed.

The SmartCraft Connect module is also Bluetooth® and Wi-Fi® enabled, which will make future software updates a breeze as we continue to roll out new VesselView features.

SmartCraft Connect also offers key benefits for your business:

  • Simple installation – SmartCraft Connect can be installed on-engine or under the helm. The simplified rigging kit consolidates CAN P and CAN H gateways into a single device, which makes the installation process faster and more affordable.
  • Easy configuration – The all-new Mercury SmartCraft Manager app, available for IOS® and Android™, makes it simple to configure SmartCraft Connect using a mobile device. The app is available to download now from the Apple® App Store or Google Play® store.
  • Flexible vessel compatibility – SmartCraft Connect is available for single, dual, or triple/quad engine configurations.
  • Easy customer service – SmartCraft integration helps customers track engine performance and maintenance. It also delivers engine faults, notifying customers if the engine needs to be brought to your dealership for service. This adds a layer of confidence for consumers while providing your team with a powerful tool for delivering quality customer service.
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