Volvo Penta acquires Seven Marine
Volvo Penta has entered the outboard market having struck a deal to become the majority owner of US-based outboard motor manufacturer Seven Marine.
Seven Marine will operate as a stand-alone entity, retaining its brand, product line and organisational structure. Ron Huibers, Volvo Penta’s president of the Americas region, will be the chairman of Seven Marine and Rick Davis will remain as its president and CEO.
“With this acquisition, Volvo Penta is entering the outboard motor segment,” said Volvo Penta president, Björn Ingemanson.
“The Seven Marine concept mirrors the successful strategy we have followed in pursuing automotive technology.
“We have a shared vision for the future, and this deal provides an ideal platform for us to grow and adapt together.”
The use of automotive technology is a common aspect between Volvo Penta’s gasoline sterndrive range and the 557 and 627HP gasoline outboard motors delivered by Seven Marine.
Volvo Penta, known for its Aquamatic Sterndrive, Volvo Penta IPS, and Forward Drive, said Seven Marine’s approach to exploring new techniques and design architecture is a key driver behind the deal.
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