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.
Navico to Buy BNT Marine Electronics
Navico International Ltd. agreed to acquire the marine electronics business of Brunswick New Technologies (BNT), a unit of Brunswick Corporation . Subject to regulatory approvals, this transaction, which is expected to close during March 2007, will create the world's largest supplier of marine electronics for recreational boats. Included in the agreement are the three brands MX Marine, Navman marine and Northstar. The combined businesses had revenues of USD 50 million in 2006 with primary operating facilities in New Zealand, the United States, Australia, and the United Kingdom. MX Marine has a 30-year heritage in providing high precision navigation systems for commercial and government vessels.
