Volvo Penta has announced that it has signed an agreement to become the major shareholder of the innovative marine technology provider Humphree.
According to the investors, having a majority share in Humphree will further accelerate the next step in Volvo Penta’s ambition to become a full marine system supplier. Volvo Penta will gain the ability to extend its range of boat dynamics solutions with new trim and stabilisation functions; and Humphree will be able to access a greater client base via Volvo Penta’s international network of dealer and service centres.
Swedish-based Humphree is a manufacturer of technology-based systems for low speed, medium speed, and high performance vessels. It supplies interceptors, optimising trim systems that reduce pitch and roll, steering alternatives to waterjet bucket deflection, sub-cavitating and base-ventilated stabilising fins and hydrodynamic services.
Per Landegren, CEO of Humphree, and Björn Ingemanson, president of Volvo Penta
Historically, Volvo Penta has not been overly active in the 30m-plus market market, but this will be an interesting acquisition for the company to potentially expand their market offering. Humphree won the DAME award last year for its stabilisation system and both companies are well known for innovation, so the combination of the two could be significant for the industry.
“Humphree already has a presence today in the 30m and above yacht segment through its interceptor systems,” says Fredrik Celander, Volvo Penta’s manager of marine leisure product planning. “Volvo Penta does not have a full product range today targeted for the 30m-plus yacht market, but the new agreement between the two companies will potentially open up more opportunities for the future.”
The companies aim to collaborate to pursue cutting-edge solutions for a wide range of marine vessels, such as active ride control. This strategic collaboration will benefit marine leisure and commercial customers for both companies.
Humphree’s CEO, Per Landegren, says the company is happy to endorse the deal with Volvo Penta. “This is a great chance for us to fully establish ourselves on the international stage and open up our products to new markets,” he explains. “We will enhance our continuous development of the Humphree product portfolio, while taking advantage of the benefits that Volvo Penta’s marine experience brings.”
The transaction is subject to conditions and expected to close within four weeks.