Norwegian Frydenbo Marine now owns 80% stake in the company-countrywomen Nordkapp Boats. The transaction value was not disclosed.
The remaining 20% of shares through the company Nordkapp Invest AS will dispose of the former sole owner of the Nordkapp Antonsen Ronnie (Ronny Antonsen).
Frydenbo and Nordkapp are working together not only on production but also on the DISTRIBUTION of boats and engines in the countries of Scandinavia since 2001.
Total turnover of both companies last year amounted to about 500 million NOK. In addition to the 2008 peak of the global economic crisis, Nordkapp Boats, starting from 2004, ends each fiscal year with a profit.
“Having the experience of several years of close cooperation with Frydenbo, we are confident that the deal will give Nordkapp a desired momentum to strengthen positions with an eye to the future,” says Antonsen.
“This acquisition will provide significant synergies and will form a solid Foundation for creating even more powerful and significant player in the industry. In recent years, conducted strategic discussions with Nordkapp on the subject, can we ensure mutual growth in the future. Thus, it was a natural next step and the desired scenario for both parties,” adds Thor Christian Bringedal (Tor Christian Bringedal), head Frydenbo Group.
Under the terms of the contract to Frydenbo Marine goes well as a 50% share in the ownership of the line Mirage in Poland, where the construction of boats under the brand Nordkapp and Sting. Mirage, which employs 250 people, is today one of the leading shipbuilders in the country.
Note that in Norway there are not so many large manufacturers of boats, in principle, and especially those who publishes their model directly at home. The exception is, perhaps, only Viknes.