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Nordhaven advised the owners of Bella-Veneet in the sale to Nimbus Boats

11 dec 2018

Nordhaven Corporate Finance advised the owners of Bella-Veneet, i.e. Raimo Sonninen, his family and Brunswick Corporation (NYSE: BC), in the sale of the company to Sweden-based Nimbus Boats. The transaction creates the leading motor boat manufacturer in the Nordics. In addition, the combination of these two boat manufacturers with a remarkably long history will provide synergy benefits in product development, procurement, production and distribution.

“With the help of Nordhaven we were able to find an excellent result for the company and its owners. I am truly impressed by the work done by Nordhaven. When you sell your whole life’s work, it is very important that the advisor is wholeheartedly and professionally putting a strong effort and committing to achieving the best outcome for you” says Raimo Sonninen, the founder and main owner of Bella-Veneet.

Bella-Veneet Oy has been operating under Raimo Sonninen’s leadership since 1970. The company has three factories in Kuopio and one in Luoto, in total employing approximately 150 people. The company has three fibreglass boat ranges – Bella, Flipper and Aquador – and the new Falcon aluminium boat range. Exports into 25 countries account for 78% of production. The company’s collaboration with Brunswick Marine, the manufacturer of Mercury engines, began in 2003 when Brunswick became a minority shareholder in Bella-Veneet.

Nimbus Boats began its operations in 1968. Nimbus Group is one of Europe’s leading manufacturers of leisure boats, developed based on Nordic design and functionality aspects. High quality, seaworthiness, practicality and environmental awareness are among the key characteristics of the products. In addition to the Nimbus brand, the company also develops, manufactures and sells the Alukin and Paragon Yachts brands globally. Approximately 50% of sales are generated through wholly-owned dealers, and the other half through independent dealers. Exports account for 70% of production. The company’s estimated net sales for 2018 amount to SEK 500 million, and the company has 145 employees. Nimbus is owned by the investment company R12.

 

For further information, please contact:

Ari Leppänen, +358 40 525 9241, ari.leppanen@nordhaven.com

Mika Jalamo, +358 40 521 1002, mika.jalamo@nordhaven.com

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