Brunswick said it has completed the acquisition of Power Products Global Marine & Mobile business for $910 million in cash. It purchased the 11 brands from San Francisco-based private equity firm Genstar Capital.
“This transaction advances Brunswick's leadership by adding integrated electrical systems solutions to the marine market and an array of other mobile, specialty vehicle and industrial applications,” said Brunswick Chairman Mark Schwabero in a statement. “Power Products has an extensive aftermarket presence which provides a consistent revenue stream, with attractive margins, that helps to strengthen Brunswick's overall business profile.”
The new brands include Ancor, BEP, Blue Sea Systems, Czone, Del City, Lenco Marine, Marinco, Mastervolt, Park Power, Progressive Industries, and ProMariner. All will be managed through Mercury Marine’s parts and accessories (P&A) business.
Power Products' revenues totaled approximately $233 million for the trailing 12-month period ended March 31, 2018, with attractive revenue growth, along with strong margin and earnings levels.
Genstar will retain Power Products' Electrical Construction & Maintenance business, now known as ECM Industries, which includes the Gardner Bender, Bergen, King, and Sperry Instruments brands.