ABOUT US

Navico is a specialist marine electronics company; its brands operate in navigation, fishfinding equipment and trolling motors, and value-added applications for the marine industry. With seven decades of developing, designing and manufacturing industry-leading products, our heritage in the industry remains unrivalled.

OUR VISION & MISSION

Our vision is to lead marine electronics with outstanding solutions for performance, safety and enjoyment on the water. Our focus on making boating safer, easier and more rewarding has resulted in the release of a number of world leading products. Innovation is at the heart of Navico’s business model and culture, this is coupled with an unprecedented product launch schedule that enables us to deliver real benefits to consumers across a broad range of recreational boating activities. Our mission is to achieve sustainable growth, continue to enhance the boating experience, deliver an unrivaled ecosystem and increase brand loyalty.

Navico Timeline

1946

Simonsen Radio founded

Simonsen Radio was founded by Willy Simonsen (NOR) leading the development of echo sounding equipment. Simrad Yachting was born from the union of Simonsen Radio and other marine technology pioneers.

1955

Brookes & Gatehouse (B&G)

Brookes & Gatehouse (B&G) was founded by Major R.N Gatehouse and Ronald Brookes (UK).

1957

Lowrance Electronics created by Darrell Lowrance (USA)

Lowrance Electronics created by Darrell Lowrance (USA) and launched the first recreational sonar product for anglers – the Fish- Lo-K-Tor, also known as the ‘Little Green Box’.

2003

Simrad Yachting acquired B&G.

2003

Altor 2003 Fund acquires Simrad Yachting AS

Altor 2003 Fund acquires Simrad Yachting AS from Kongsberg Group.

2005

Altor 2003 Fund acquires Lowrance Electronics.

2006

Navico was created through the merger of Simrad Yachting and Lowrance Electronics

Navico was created through the merger of Simrad Yachting and Lowrance Electronics by their common owners, Altor Equity Partners, a Swedish private equity firm.

2006

Navico acquire the marine electronics business of Brunswick New Technologies

Navico acquire the marine electronics business of Brunswick New Technologies creating the world’s largest supplier of marine electronics for recreational boats.

2007

Goldman Sachs Merchant Banking Division and Altor Fund IV

Goldman Sachs Merchant Banking Division and Altor Fund IV signed an agreement to acquire Navico Holding AS (Navico) and Digital Marine Solutions Holding AS (Digital Marine Solutions), owner of Jeppesen Marine, from the Altor 2003 Fund.

2016

Navico expands manufacturing plant in Ensenada, Mexico

Navico expands manufacturing plant in Ensenada, Mexico adding 50,000 sq ft

2016

Navico acquire C-MAP

Navico acquire C-MAP, providing cartography products and services for all types of leisure boaters, from fishermen and sailing enthusiasts to powerboat owners around the world.

2019

Knut Frostad appointed as President and CEO of Navico.

OWNERSHIP

Goldman Sachs Merchant Banking and Altor Fund IV acquire Navico and Digital Marine Solutions from the Altor 2003 Fund. In July 2016 Goldman Sachs Merchant Banking Division and Altor Fund IV signed an agreement to acquire Navico Holding AS (Navico) and Digital Marine Solutions Holding AS (Digital Marine Solutions), owner of Jeppesen Marine, from the Altor 2003 Fund. Navico was created from the acquisitions of Simrad-Yachting (owner of B&G), Lowrance Electronics and Brunswick New Technologies. The company has worked systematically to integrate the three companies, consolidating seven brands into three (Simrad Yachting, B&G and Lowrance), six factories into one and building one common technology platform. As a result, Navico has been driving innovation in its industry and has steadily grown its market share since 2009. In 2017 Navico acquired C-MAP. Navico has also become the most profitable player in its industry, with 2018 Revenues of USD 373 million.

ABOUT ALTOR

Since inception, the family of Altor funds has raised some EUR5.8 billion in total commitments. The funds have invested in excess of EUR3.6 billion in more than 40 companies. The investments have primarily been made in medium sized Nordic companies with the aim to create value through growth initiatives and operations improvements. Among current and past investments are Spectrum, Skandiabanken, SATS/Elixia, Helly Hansen, Rossignol and Lindorff. For more information visit:

ALTOR FUNDS

ABOUT GOLDMAN SACHS MERCHANT BANKING DIVISION

Since 1986, the Merchant Banking Division of Goldman Sachs has raised over USD140 billion of capital in equity, credit and real estate funds to invest in a variety of geographies, industries and transaction types. With Merchant Banking representatives in six countries around the world, Goldman Sachs is one of the largest managers of private capital globally, offering deep expertise and longstanding relationships with companies, investors, entrepreneurs and financial intermediaries. Goldman Sachs is leading global investment banking, securities and investment management firm that provides a wide range of financial services to substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centres around the world. Further information on Goldman Sachs can be found on the website:

GOLDMAN SACHS