Business Type: Manufacturer
UK & International Business Sales and M&A News
Dometic Group, the global market leader in solutions for mobile living, has acquired Oceanair, a UK-based market-leading manufacturer of marine blinds, screens and soft furnishings primarily for the Leisure Marine and Super Yacht segments. The acquisition strengthens Dometic’s presence in the marine market and broadens the product portfolio.
Over the last years, Oceanair has been the leader in the OEM supply for hatch and window coverings, exhibiting a favorable topline and profitability trend. For the fiscal year 2015/16, the company reported revenues of GBP 11.4 million. Oceanair has its main operations and manufacturing in the UK, with an additional manufacturing facility in the US. The company has sales to customers in 32 countries and it employs c.200 people in total.
”Oceanair is a well-run company with a strong position in its segments. In addition to strengthening Dometic’s presence in the marine market, we also expect significant engineering and commercial synergies as well as stand-alone opportunities from the acquisition. All in all, this is an excellent addition to Dometic and another step in our active portfolio management.”
Roger Johansson, President and CEO of Dometic
“Oceanair has had a great journey over the last 25 years, delivering on some of the most creative and challenging marine projects. With Dometic as our new owner, we will be able to reach an ever larger customer base while continuing to excel in blind engineering and manufacturing.”
Andy FitzGerald, Managing Director of Oceanair
The initial purchase price is GBP 14.0 million in cash with additional earn-out consideration of maximum GBP 2.5 million subject to the achievement of certain performance-related targets over the next 16 months.
Comments
No comment yet.