Nimbus Group AB (publ) has today agreed with the owners of Marine Store Holding AB to acquire the companies Marine Store Norrtälje AB, Marine Store Nynäshamn AB and Marine Store Båtservice Norrtälje AB as of 17 May. The Marine Store Group is one of Sweden's largest motorboat dealers with operations in Bergshamra, Norrtälje and Nynäshamn in the larger Stockholm area.
The acquisition is part of Nimbus Group's strategy to grow within the dealer segment. During the split financial year 2019-2020, Marine Store Holding AB had sales of SEK 311 million and an operating profit (EBITDA) of approximately SEK 35 million. Nimbus Group pays a purchase price of SEK 180 million for the companies on non-debt basis. Nimbus Group is financing the acquisition using own funds. Marine Store will positively contribute to Nimbus Group's earnings per share in 2021. Nimbus Group will take ownership immediately.
Marine Store is a full-service company for motorboats with 23 employees at the facilities in Norrtälje, Bergshamra and Nynäshamn, outside of Stockholm. Marine Store sells motorboats of the brands Anytec, Buster, Ockelbo, Yamarin, Yamarin Cross, and also service the Yamaha and Brunswick engines. In addition, financing, insurance, winter storage, service and repairs are offered.
Joakim Mellqvist, CEO and co-owner of Marine Store:
- We, the main owners in the Marine Store have worked hard for a number of years to improve our offering and the business has developed very positively. For Marine Store, this deal is a logical next step. Nimbus Group is a strong company in the industry with well-known brands that will constitute a good haven for continued expansion.
Jan-Erik Lindström, CEO of Nimbus Group:
- One of the cornerstones of our strategy is to grow within the dealer segment. The acquisition of Marine Store is therefore a logical next step to us. Marine Store operates in important boating districts where we also want to strengthen our brands. Marine Store is a well-managed company with high quality and service which we will continue to invest in and develop further.
For more information, please contact:
Gunilla Öhman, Investor Relations
Tel: +46 707 63 81 25
About Nimbus Group
Nimbus was originally founded in 1968 when production of leisure powerboats under the brand Nimbus started. Since then, several brands have been added to the portfolio of what today is the Nimbus Group. Nimbus Group today comprises the brands Alukin, Aquador, Bella, Falcon, Flipper, Nimbus and Paragon Yachts. Nimbus Group had net sales of SEK 1 029 million in 2020 and 288 employees. The Group’s boats are sold in the Nordic countries, central Europe and in the US. The operations are located in Sweden, Finland, Poland and in the UK. For more information about Nimbus Group, please visit us at www.nimbusgroup.se.
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