Nimbus Boats acquired Finnish competitor Bella-Veneet.

Sweden M&A 19 December 2018
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Nimbus Boats, a Gothenburg, Sweden-based boat manufacturer, announced that it acquired 100% of Bella-Veneet Oy’s business operations (Bella Boats).

The transaction, which has the financial details undisclosed, was mde with Bella's owners, Raimo Sonninen and Brunswick Marine, and includes the retail business Flipper Marin AB in Täby, Sweden. Raimo Sonninen will continue to be involved in the business as a product development advisor and lease the production plants he still owns to Nimbus.

Bella-Veneet Oy, led by Raimo Sonninen since 1970, manufactures boats in Kuopio and Larsmo, Finland under four different brands; Bella, Flipper, Aquador and, the most recent addition, aluminium boat series Falcon.

The company, which employs 150 people, has customers in 25 countries. The collaboration with Brunswick Marine, manufacturer of the Mercury engine, which began in 2003 when Brunswick acquired a 36% stake in Bella-Veneet Oy, will continue undiminished after the acquisition.

Nimbus Boats, founded in 1968 and led by CEO Jan-Erik Lindström, is one of Europe’s leading leisure craft manufacturers. Aside from the Nimbus brand, the company also develops, manufactures and sells the brands Alukin and Paragon Yachts for the global market.

Nimbus’ head office is located at the Royal Gothenburg Yacht Club (GKSS) harbour in Långedrag, Sweden. Production takes place at three locations, with the main production unit located just outside Mariestad, Sweden.

Vessels are sold to consumers via a global network of dealers, with approximately half of all sales made by wholly-owned resellers and half by independent dealerships. The company has 145 employees and expects a turnover of SEK 500M ($55M) for 2018.