Nimbus Group has acquired center console builder EdgeWater Power Boats and announced a strategic partnership to expand the Swedish builder’s U.S. footprint.
In acquiring EdgeWater Boats, Nimbus Group not only gets an established Florida builder with 15 models, it adds a U.S. production facility. Nimbus Group is comprised of seven brands with manufacturing facilities in nine locations throughout Sweden, Finland, and Poland.
Nimbus Group brands include Alukin, Aquador, Bella, Falcon, Flipper, Nimbus Group and Paragon Yachts. The brands produce 70 models that feature Scandinavian design.
”Nimbus Group has a clear growth strategy where expansion in the important North American market comprises one of the cornerstones. The acquisition of EdgeWater adds a strong and successful brand to our house of brands,” says JanErik Lindstrom, president and CEO of Nimbus Group, in a statement.
“The market for powerboats in the U.S. is the single largest in the world and to support Nimbus Group’s expansion in the U.S. and increase our presence in the North American market EdgeWater Power Boats adds an important experienced local organization and production capacity in the U.S.
EdgeWater Power Boats started in 1992 and the boats are built in Edgewater on Florida’s East Coast. The company offers center consoles and dual consoles from 15 to 37 feet. EdgeWater and its legendary engineer Bob Daugherty wanted to build boats with integrally stable hulls and ultimately led to the Single-Piece Infusion.
This agreement, which was reached in March, brings together two established companies in the marine industry. This partnership gives the brands the ability to share resources and technologies, officials said.
“With this collaborative partnership, we will set a strong standard for boatbuilding,” says Jennifer Butera, president and CEO of EdgeWater Power Boats, in a statement. “Our companies share the same sensibilities geared towards providing sincere commitment to our customers and their families. The Nimbus Group is aimed at growth, and it seems limitless.”
EdgeWater Boats sold more than 300 boats in 2022 with sales nearing $48 million. Nimbus Group reportedly spent $9.5 million on the acquisition, which includes EdgeWater’s industrial property. The sale is expected to close by June.