Volvo Penta signed an agreement to become the major shareholder of marine technology provider Humphree.
Having a majority share in Humphree will further accelerate the next step in Volvo Penta’s journey to become a full marine system supplier, the company said.
Volvo Penta will gain the ability to extend its range of boat dynamics capabilities with new trim and stabilization functions; Humphree will be able to access a greater client base via Volvo Penta’s international network of dealer and service centers.
The companies will also collaborate to pursue features for marine vessels such as active ride control.
Swedish-based Humphree is a manufacturer of technology-based systems for low-speed, medium-speed, and high-performance vessels .
It supplies interceptors, optimizing trim systems that reduce pitch and roll, steering alternatives to waterjet bucket deflection, sub-cavitating and base-ventilated stabilizing fins, and hydrodynamic services.
In recent years, Volvo Penta has used Humphree as a supplier for its Interceptor System (IS). An upgrade to the IS will be launched this year.
“We are delighted to announce that we have acquired majority ownership in Humphree,” Volvo Penta president Björn Ingemanson said in a statement. “Both companies are leaders within their respective segments in the marine industry, which has resulted from having a passion for developing and manufacturing high quality, innovative systems. This, of course, benefits the end user.
“This deal marks a new chapter in offering the best marine application solutions for customers, and we look forward to a new and exciting working relationship,” Ingemanson said.