Raimo Sonninen and family as well as Brunswick Corporation (NYSE: BC) sold all shares in Bella-Veneet, a motor boat manufacturer, to the Swedish company Nimbus Boats.
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. 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.
The transaction creates 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.
Clairfield International acted as exclusive financial advisor to the sellers.