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 unrivaled.

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.

2016

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.

2021

Navico Acquired by Brunswick

Brunswick Corporation, world’s largest recreational marine company, acquires Navico from Altor Fund IV and Goldman Sachs Asset Management positioning Navico and its brands within Brunswick’s Advanced Systems Group (ASG). Navico becomes an independent business unit within ASG with Knut Frostad continuing as CEO.

OWNERSHIP

Navico was purchased by Brunswick Corporation in 2021 with the acquisition announced on June 24, 2021 and closing in October 2021. The announcement highlighted that Navico would continue to be led by Navico President & CEO Knut Frostad and would be positioned as an independent business unit within Brunswick’s Advanced Systems Group (ASG).

Navico was created in 2006 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. Navico acquired C-MAP, a leader in digital marine cartography solutions, as its fourth brand in 2017.

ABOUT BRUNSWICK

Brunswick, the world’s leader in recreational boats, marine engines and marine parts and accessories, is one of the longest continuously publicly-traded companies on the New York Stock Exchange with over 175 years of history, operations in 24 countries and serving more than 170 markets with its 16,000 employees.

Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Advanced Systems Group, which includes industry-leading brands like Attwood, Mastervolt, Blue Sea Systems, CZone, and ASG Connect system integrators; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club and Boat Class.