Brunswick Corporation has entered into an agreement to acquire Navico, a global leader in marine electronics and sensors for US$1.05 billion.

As a result of this acquisition, Brunswick will add the Lowrance, Simrad, B&G, and C-MAP brands to its Advanced Systems Group (ASG), which includes the leading Parts & Accessories (P&A) brands in power management, digital control and monitoring, and networked devices.

Navico is a privately held global company based in Egersund, Norway and co-owned by Altor Fund IV and Goldman Sachs Asset Management. It is a leading provider of multi-function displays, fish finders, autopilots, sonar, radar, and cartography. Navico’s strong brands serve most major powerboat and sailing markets for both recreational and commercial applications.

With the addition of Navico, Brunswick expects its P&A businesses to have revenues on a run-rate basis exceeding US$2-billion.