ECI Acquires Kelvin Hughes

Friday, November 09, 2007
ECI Partners LLP (“ECI”), the UK mid-market buyout specialist, has acquired Kelvin Hughes in a $109.3m transaction out of Smiths Group plc, the UK listed technology company. Kelvin Hughes is a leading supplier of navigation products and services for the Naval and Commercial marine sectors. The purchase price comprises $100.9m which was paid in cash on completion of the purchase and a deferred payment of up to $8.4m depending on certain conditions being satisfied. Senior members of Kelvin Hughes management invested alongside ECI, becoming shareholders in the business. Kelvin Hughes has a highly innovative product range, which is designed to provide mariners with the most advanced navigation systems and services available. Its products include radar sensors and display technology, Voyage Data Recorders, Electronic Chart systems and highly advanced Integrated Bridge Systems. In addition, through ChartCo, it provides a unique and highly cost effective means of providing bulk data to ships via satellite. Kelvin Hughes is also the world’s largest supplier of nautical charts and publications for commercial and leisure use. Kelvin Hughes designed and produced the world’s first solid state marine navigation radar, Sharpeye, representing a step change in commercial radar performance and brings military grade radar performance to the commercial marine marketplace for the first time. Other Kelvin Hughes products are used in a wide range of commercial vessels, luxury yachts and cruise liners, including the new Queen Mary 2. They are also in service with over 30 navies around the world, including all United Kingdom Royal Navy warships. Following the transaction, Kelvin Hughes will increase its investment in technological innovations and constant product development to further strengthen its position at the forefront of naval and commercial navigation technology. Kelvin Hughes operates in a growing market, driven by the increasing legislative requirements on mandatory safety, situational awareness and navigational equipment. ECI is backing the existing management team led by Russell Gould, MD and the growth of the business will be driven through both organic expansion and acquisitions.
Maritime Reporter February 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Barril Appointed COO of SBM Offshore

SBM Offshore is pleased to announce the appointment of Philippe Barril as Chief Operating Officer (COO) effective March 1, 2015.  Philippe's appointment as a

Zamakona, Finnish GS-Hydro Ink Deal

The presentation ceremony of the Finnish multinational leader in water services GS-Hydro, new partner of Zamakona Yards in Canarias was held yesterday (January 29th at 7 p.

Naval EXPO Coming to Washington

For the first time ever, the general public will be admitted free to the Naval Future Force Science and Technology EXPO general exhibit hall Feb. 4-5 where they

Finance

Scorpio Takes Delivery of STI Veneto

Scorpio Tankers Inc. has taken delivery of STI Veneto, an LR2 product tanker from Hyundai Samho Heavy Industries Co., Ltd. This vessel will begin a voyage for 60 days at approximately $32,

Adani Group Revamps Businesses

Adani Enterprises Limited together with its subsidiaries Adani Ports and Special Economic Zone Limited (“APSEZ”) and Adani Power Limited (“APL”) today announced

PHA Budgets $ 275 mi for Capital Improvements

In 2015, the Port of Houston Authority has budgeted $275 million for various capital improvement projects. About $184 million is being allocated to its container

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1965 sec (5 req/sec)