Volvo Penta Becoming Majority Owner Of Seven Marine

According to a news release today on the Volvo Penta website, the Sweden-based marine engine manufacturer has signed an agreement to become the major owner of outboard engine builder Seven Marine. Founded in 2010 and based in Germantown, Wis., Seven Marine offers 557- and 627-hp V-8 outboard engines.

Seven Marine builds the world’s most powerful outboard engines.

“With this acquisition, Volvo Penta is entering the outboard motor segment,” said Volvo Penta president, Björn Ingemanson, in the release. “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.”

The deal will broaden Volvo Penta’s technology platform, offering “a modular, cutting-edge solution, regardless of the energy source, to deliver the desired power in the water,” according to the release. Seven Marine will be able to “further develop its existing innovative outboard technology to satisfy a wider range of needs for its premium and exclusive customer base,” the release stated.

“This is an exciting step for Volvo Penta,” said Ron Huibers, president of Volvo Penta of the Americas, in the release. “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.”

Details on the cost of acquisition and future leadership/management structure of Seven Marine were not included in the news item. Click here to read the complete news item.