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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Danish Maritime Days Themes Announced

Four themes at this year’s Danish Maritime Days will highlight some of the most important challenges and opportunities which the global maritime industry is facing, organizers said.

CMA CGM Proceeds with NOL Takeover after China Okay

CMA CGM, the world's third-largest container shipping firm, is to go ahead with its planned acquisition of Singapore's Neptune Orient Lines (NOL) after receiving regulatory clearance from China,

Singapore Exchange in Talks to buy Baltic Exchange

Baltic Exchange privately owned by 380 shareholders. The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the

Finance

FedEx Completes Takeover of TNT Express

US-based FedEx Corp. completed its €4.4 billion ($4.9 billion) acquisition of Dutch TNT Express, , with integration of the companies to start immediately.   The

STX Shipbuilding Likely to Enter Court-lead Restructuring

South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead

Statoil Says Sees European Gas Prices Bottoming Out

Norway's Statoil does not expect European gas prices to fall much further as rising demand from the power generation sector would offset an expected increase in liquefied natural gas (LNG) supply,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0921 sec (11 req/sec)