Volvo Penta becomes majority owner of Seven Marine
Volvo Penta has signed an agreement to become the major owner of premium outboard motor manufacturer, Seven Marine.
“With this acquisition, Volvo Penta is entering the outboard motor segment,” said Volvo Penta president, Björn Ingemanson. “With Seven Marine, we are on a journey to expand the scope of supply with our customers and invest in the growth of a platform to shape the future of the outboard industry.”
The deal will broaden Volvo Penta’s technology platform, offering a modular, cutting-edge solution, regardless of the energy source, to deliver the desired power in the water. Seven Marine will be able to further develop its existing innovative outboard technology to satisfy a wider range of needs for its premium customer base. This acquisition will strengthen their combined footprint in the marine market.
Seven Marine will operate as a stand-alone entity retaining its brand, product line and organizational structure. The two companies will collaborate to continue to develop Seven Marine’s leading outboard offerings, which not only leverages the strength of the company’s existing technology, but also has sustainability in mind.
The agreement is subject to conditions and is expected to close in the nearest future.
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