Sunday 5 July 09 - 01:18
 

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Kelvin Hughes acquired in £52m deal

ACQUISITION: Kelvin Hughes has been acquired in a £52m transaction by ECI Partners LLP. £48m was paid in cash on completion of the purchase with the remaining payment of up to £4m depending on certain conditions being satisfied. 
Kelvin Hughes – acquired for £52m by ECI LLP
Kelvin Hughes – acquired for £52m by ECI LLP

The company is the world’s largest supplier of nautical charts and publications for commercial and leisure use.

Its product range also includes radar sensors and display technology, voyage data recorders, electronic chart systems and highly advanced integrated bridge systems. The company says it will increase its investment in technological innovations and constant product development to strengthen its position at the forefront of naval and commercial navigation technology.

Senior members of Kelvin Hughes management invested alongside ECI, becoming shareholders in the business, and ECI is backing the existing management team, led by MD Russell Gould. The growth of the business will be driven through both organic expansion and acquisitions.

‘Kelvin Hughes is a great example of a high quality British technology and manufacturing business,’ said ECI’s Ken Lindsay. ‘It has led the world in its field for more than 250 years and continues to innovate.’

‘With ECI’s support we are extremely well placed to build on our current position as a world leading producer of navigation technology,’ said Kelvin Hughes MD Russell Gould. ‘The sector we operate in is growing due to the increasingly legislative environment affecting the marine industry, and we feel that we are ready and equipped to capture the market opportunity.’

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Kelvin Hughes – acquired for £52m by ECI LLP

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Chas Newens Marine Co, chandlery & boat hire