Volvo Penta has extended the scope of its integrated marine propulsion systems in becoming a majority owner of Seven Marine, a manufacturer of outboard engines near Milwaukee, Wis. Terms we not disclosed.
“With this acquisition, Volvo Penta is entering the outboard motor segment,” said Volvo Penta President Björn Ingemanson. “With Seven Marine, we are on a journey to expand the scope of supply with our customers and invest in the growth of a platform to shape the future of the outboard industry.”
Volvo Penta said the deal will broaden its technology platform allowing it to offer a modular solution regardless of the energy source. Seven Marine will be able to further develop its outboard technology to satisfy a wider range of needs for its customer base. The acquisition is also expected to strengthen their combined footprint in the marine market.
“This is an exciting step for Volvo Penta,” said Ron Huibers, president of Volvo Penta of the Americas. “We are combining the strength of two highly innovative companies to deliver an unbeatable engine range for the gasoline segment. We will not only come to market with an extremely attractive outboard solution, but we will deliver the benefits of our world-class service network to a broader range of customers.”
Seven Marine was founded in 2010 and builds high-performance gasoline outboards for the high-end leisure marine market. The company offers marinized General Motors 6.2 L small-block engines rated 557 hp that are fitted horizontally and use fresh-water cooling and a supercharger. The use of automotive technology is a common aspect between Volvo Penta’s gasoline sterndrive range and Seven Marine’s outboard motors.
Seven Marine will operate as a stand-alone entity retaining its brand, product line and organizational structure, said Volvo Penta. Huibers will be the chairman of Seven Marine and Rick Davis will remain as Seven Marine’s president and CEO.
“This is a great development for us,” said Davis. “As a young company we have pushed ourselves forward to revolutionize the outboard experience in a short period of time. And in partnering with Volvo Penta, we will have a solid backing to continue improving the customer experience through the pursuit of technological and innovation advancement.”