Navico

Navico

Industry	Marine electronics
Founded	2006
Headquarters	Egersund, Norway
Key people	Knut Frostad, President & CEO
Revenue	$309 Million USD (2015)
Owners	[[Altor Fund IV and Goldman Sachs Merchant Banking Division]]
Number of employees	1,800 (2019)

Navico is a specialist marine electronics company providing navigation, marine instruments and fish finding equipment to both the recreational and commercial marine sectors.

The Navico Recreational Marine Division is the world's largest provider of leisure marine electronic products. Lowrance is aimed at fishing, particularly in freshwater and near coastal areas. Simrad Yachting is focused on powerboat owners for cruising and sportfishing and B&G serves the sailing market.

The Simrad Commercial Marine Electronics division also offers a comprehensive portfolio of navigation solutions for the commercial market, while C-MAP provides cartography and digital solutions to both recreational and commercial markets.

Navico has its headquarters in Egersund, Norway, and the group has manufacturing facilities in the United States, UK, Norway, Mexico and New Zealand.

Time line

1947 Simonsen Radio was founded by Willy Simonsen (NOR) leading the development of echo sounding equipment. Simrad Yachting was born from the union of Simonsen Radio and other marine technology pioneers.

1955 Brookes & Gatehouse (B&G) was founded by Major R.N Gatehouse and Ronald Brookes (UK).

1957 Lowrance Electronics created by Darrell Lowrance (USA) and launched the first recreational sonar product for anglers – the Fish-Lo-K-Tor, also known as the ‘Little Green Box’.

2003 Simrad Yachting acquired B&G.

2005 Altor 2003 Fund acquires Simrad Yachting AS from Kongsberg Group.

2006 Altor 2003 Fund acquires Lowrance Electronics.

2006 Navico was created through the merger of Simrad Yachting and Lowrance Electronics by their common owners, Altor Equity Partners, a Swedish private equity firm.

2007 Navico acquire the marine electronics business of Brunswick New Technologies creating the world’s largest supplier of marine electronics for recreational boats.

2016 Goldman Sachs Merchant Banking Division and Altor Fund IV signed an agreement to acquire Navico Holding AS (Navico) and Digital Marine Solutions Holding AS (Digital Marine Solutions), owner of Jeppesen Marine, from the Altor 2003 Fund.

2016 Navico expands manufacturing plant in Ensanada, Mexico adding 50,000 sq ft

2017 Navico acquire C-MAP, providing cartography products and services for all types of leisure boaters, from fishermen and sailing enthusiasts to powerboat owners around the world.

2019 Knut Frostad appointed as President and CEO of Navico.

Brand summaries

B&G

Formerly Brookes and Gatehouse, B&G was founded over 60 years ago and manufactures sailing electronics for cruising and racing yacths. B&G systems are used by professional race boats as well as amateur club racers and sailing superyachts. The B&G range encompasses chartplotters, navigation equipment, instruments, autopilots and radar, plus tactical racing software and other high-end performance measurement and analysis solutions.

Lowrance

Lowrance has been a major manufacturer of fishfinding equipment and marine electronics since 1957. Lowrance has pushed the limits of technology to deliver innovations like the first consumer fishfinder, the first colour fishfinder, the first sonar/GPS combo, the first digital sonar, grayline/colourline and more.  Lowrance products are sold around the world serving the tournament fisherman, the seasoned pro, the avid weekend angler or the casual fisherman.

Simrad Yachting

Simrad Yachting traces its roots back over seventy years ago when its founder patented new wireless communications for fishing vessels. Simrad Yachting is now a major marine electronics brand which manufactures a wide range of instruments for recreational vessels of all sizes, from small runabouts and sportfishing boats up to luxury cruisers and superyachts. The Simrad Yachting range includes integrated high-performance navigation and information display systems with touch-screen and remote control, communications equipment, autopilots, safety electronics and radar systems.

Simrad Commercial Marine Electronics

Simrad Commercial is a leader in electronics technology for commercial vessels. Over the past seventy years they have developed systems for the benefit of commercial vessels offering a range of sophisticated radar systems, auto steering, navigation and safety products for vessels of all sizes, from small vessels on inland waterways to larger coastal commercial and passenger craft.

C-MAP

Founded in 1985, C-MAP serves boaters worldwide, providing cartography products and services for all types of leisure boaters, from fishermen and sailing enthusiasts to powerboat owners. C-MAP worldwide cartography products and services include multiple formats for lakes, coasts and oceans.  C-MAP products are compatible for different devices from all the leading brands.