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 July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

AEU Presents Safety Awards

The American Equity Underwriters, Inc. (AEU) presented its 2014 Safety Awards at the annual American Longshore Mutual Association, Ltd. (ALMA) Conference on July 19, 2015, in Key Biscayne, Fla.

Hapag-Lloyd Names Haeser Next CCO

Container shipping line Hapag-Lloyd AG’s supervisory board has appointed Thorsten Haeser as a new executive board member in charge of Hapag-Lloyd’s global sales

MARAD to Host Meeting on Proposed Delfin LNG License

MARAD Announces Public Scoping Meetings for Proposed Delfin Liquefied Natural Gas Deepwater Port Export Facility.   On July 29, the Maritime Administration

Finance

Shanghai 6th Best Shipping Center Globally

Shanghai has moved up the rankings of the world’s top shipping centers to sixth place, surpassing Dubai thanks to Free Trade Zone regulations and the Belt and Road Initiative,

Pacific Basin Returns to The Black

Pacific Basin Shipping cut its half-year underlying losses by 32 per cent to US$14.6 million from a year ago, thanks to stringent cost-cutting efforts that helped

Oceanteam Acquires Oceanwind

Oceanteam Shipping has acquired the remaining 48% stake in fellow Dutch firm Oceanwind and is now the sole owner of Oceanwind Cable Storage & Handling Solutions.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators 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: 0.1504 sec (7 req/sec)