Goldman Sachs Asset Management and Altor announced on June 24 that they have agreed to sell Navico, a global leader in marine electronics, to Brunswick Corporation, the world’s largest recreational marine company, for $1.05 billion.
Navico sells its products under the Lowrance, Simrad, B&G, and C-MAP brands, and its product portfolio includes networked display systems, standalone displays, sonars, radars, autopilots, gyros, instruments as well as cartography and software products. Goldman Sachs and Altor acquired Navico in 2016 from Altor 2003 Fund.
Goldman Sachs Asset Management is the primary investing area within Goldman Sachs and oversees more than $2 trillion in assets. The family of Altor funds have invested in excess of €5 billion in more than 75 companies.
A cross-border S&C team led by Ben Perry is advising Goldman Sachs Asset Management and Altor. The team includes: Jih-Shing Lim on corporate matters; Juan Rodriguez, Joe Matelis, Eric Queen and Marielena Doeding on competition matters; Mehdi Ansari on intellectual property matters; Eric Wang, Andrew Thomson, Michael Orchowski and Joshua Stevens on tax matters; and Heather Coleman and Yujin Cha on executive compensation.
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