M&A Deal Summary

Brunswick Acquires Navico

On June 24, 2021, Brunswick acquired electronics company Navico from Altor Equity Partners and Goldman Sachs Merchant Banking for 1.1B USD

Acquisition Highlights
  • This is Brunswick’s 1st transaction in the Electronics sector.
  • This is Brunswick’s largest (disclosed) transaction.
  • This is Brunswick’s 10th transaction in the United States.
  • This is Brunswick’s 1st transaction in Oklahoma.

M&A Deal Summary
Date 2021-06-24
Target Navico
Sector Electronics
Buyer(s) Brunswick
Sellers(s) Altor Equity Partners
Goldman Sachs Merchant Banking
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

Navico

Tulsa, Oklahoma, United States
Navico is a provider in marine electronics for the recreational segment and is an innovative force within the commercial marine market. Navico offers multi-function displays, fish finders, autopilots, sonar, radar, and cartography. Navico strong brands serve most major powerboat and sailing markets for both recreational and commercial applications. Navico was founded in 2006 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

Brunswick

Mettawa, Illinois, United States
Category Company
Founded 1845
Sector Consumer Products
Employees17,000
Revenue 6.4B USD (2023)
DESCRIPTION
Entrance to Brunswick's corporate headquarters in Lake Forest, Illinois.
Entrance to Brunswick's corporate headquarters in Lake Forest, Illinois.

Brunswick is a designer, manufacturer, and marketer of recreation products in the United States and internationally. Brunswick was incorporated in 1845 and is based in Mettawa, Illinois.

DEAL STATS #
Overall 13 of 15
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 11 of 13
State (Oklahoma) 1 of 1
Country (United States) 10 of 12
Year (2021) 1 of 3
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-06 Life Fitness

Franklin Park, Illinois, United States

Life Fitness is a global producer of commercial fitness equipment and game tables. The Company manufactures and sells its strength and cardiovascular equipment and billiards tables and accessories through its family of brands that includes Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group, SCIFIT and Brunswick Billiards.

Sell $490M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-01 RELiON Battery

Rock Hill, South Carolina, United States

RELiON Battery is a provider of lithium batteries and related products to multiple industry sectors. RELiON products power a range of applications in the marine, recreational vehicle, solar, and industrial segments. RELiON Battery was founded in 2014 and is based in Rock Hill, South Carolina.

Buy -

Seller(S) 2

SELLER

Altor Equity Partners

Stockholm, Sweden

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2003
PE ASSETS 8.3B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Altor Equity Partners is a private equity firm that looks to principally invest in medium-sized Nordic based companies across a broad range of industries. Altor typically seeks control positions when investing. Prospective companies generally have revenues of €50 to €500 million. Broad areas of interest include healthcare services, electronics, technology, financial services, business services, niche manufacturing, capital equipment, software, marine, consumer products, and communications. Altor Equity Partners was formed in 2003 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 36 of 43
Sector (Electronics) 2 of 2
Type (Add-on Acquisition) 21 of 24
State (Oklahoma) 2 of 2
Country (United States) 3 of 3
Year (2021) 2 of 6
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-17 Multi-Wing

Vedbæk, Denmark

Multi-Wing specializes in design and assembly of tailor-made axial fan products for HVAC/R and engine cooling applications. Multi-Wing offers custom-designed axial fans with more than 100,000 possible configurations and tailored one-piece-molded options and has a strong diversified blue-chip customer base, including leading off-highway vehicle and HVAC/R OEMs. Multi-Wing was founded in 1938 and is based in Vedbæk, Denmark.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-25 Nordic Trustee

Helsinki, Norway

Nordic Trustee is a Nordic provider of core bond trustee services, as well as ancillary information and administrative services, such as sale of bond data, bond pricing, direct lending and loan administration. Nordic Trustee was founded in 1993 and is based in Helsinki, Norway.

Sell -
SELLER

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 97 of 110
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 31 of 37
State (Oklahoma) 1 of 1
Country (United States) 70 of 78
Year (2021) 8 of 15
Size (of disclosed) 21 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-09 2020

Laval, Quebec, Canada

2020 is a provider of computer-aided design, business and manufacturing software tailored for the interior design and furniture industries. The company has developed an unmatched depth of knowledge of interior design and space planning to maintain an unbroken history of the market and thought leadership. Its customers include many of the world’s largest home improvement retailers and manufacturers, as well as tens of thousands of local, independent kitchen and bathroom dealers. 2020 was founded in 1987 and is based in Laval, Quebec.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 DNA Diagnostics Center

Fairfield, Ohio, United States

DNA Diagnostics Center is a provider of private DNA testing services for paternity and other family relationships, forensics, cell line authentication, and ancestry. DDC provides products approved by the FDA and EMA, and is accredited by the American Association of Blood Banks (AABB), The Ministry of Justice, The College of American Pathologists (CAP), and The Clinical Laboratory Improvement Amendment (CLIA). DNA Diagnostics Center was founded in 1995 and is based in Fairfield, Ohio.

Sell -
Mergr

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