Brunswick to Sell Fleet Management Segment of Technologies Unit
Brunswick Corporation announced that it has reached a definitive agreement to sell Brunswick New Technologies
' (BNT) fleet management business unit to Navman Wireless Holdings L.P.
Terms of the transaction were not disclosed, and completion of the sale is subject to customary conditions.
Navman Wireless Holdings was formed by Prairie Capital, a Chicago-based private equity firm, to acquire the business. The current members of BNT's executive team will continue to manage Navman Wireless.
Previously, Brunswick had sold the marine electronics portion of BNT to Navico International Ltd., while the segment serving the personal navigation device market was purchased by MiTAC International Corporation. Brunswick began the process of selling BNT in April 2006.