Japanese propeller manufacturer acquires Michigan Wheel’s UK operations
Nakashima Marine Propulsion Ltd, a global leader in marine propeller technology, has acquired the United Kingdom operations of Michigan Wheel, a leading manufacturer of marine propulsion equipment.
Michigan Wheel was established in 1904 and manufactures and distributes high quality and high-performance propellers, mainly for pleasure boats. In addition, it designs and distributes propeller shafts and rudders via its distributor network in North America and Europe.
The UK operations located in Newton Abbot, Devon and, since its inception, this UK office has undergone transformation from a start-up sales and marketing office into a full-service sales, repair and manufacturing operation under the leadership of Terry Hughes, expanding Michigan Wheel’s European footprint.
This acquisition represents a significant step in Michigan Wheel’s strategic realignment to focus on its core market segments and growth opportunities, particularly its expanding government business division.
Bruce Dieterle, CEO of Michigan Wheel, said:
“This transaction represents a pivotal moment in Michigan Wheel’s growth strategy. By concentrating our resources on our core markets, we are positioning the company for accelerated growth and enhanced market leadership.”
Nakashima Marine Propulsion Ltd, a wholly owned subsidiary of Nakashima Propeller Co., with its HQ in Okayama, Japan, distributes a wide range of products such as small propellers for pleasure boats, large propellers for commercial vessels, thrusters and controllable pitch propellers and has the technology to design and manufacture optimal propellers to meet the specifications of a variety of vessels.
It distributes propellers to the overseas pleasure boat market, mainly in Europe, through MMP, the European business arm of Michigan Wheel.
Takayoshi Nakashima, President of Nakashima Propeller, commented:
“This acquisition is an important step to strengthen Nakashima brand in the European market. The new company has a capability to distribute various propulsion systems as a package. Through this significant package sales ability, we are convinced that the new firm will be able to provide customers with high quality products and services and this will meet wide range of client requirements.
“Nakashima group will continue to make every possible effort to further increase our product and service qualities to satisfy our precious customers across the world.”
The addition of Michigan Wheel’s UK facilities and talent will significantly bolster Nakashima’s manufacturing capabilities and customer base in the European market. Cory Gaffney, Managing Partner of The Anderson Group, MI Wheel’s private equity partner, said:
“Nakashima is a global leader in propeller technology and manufacturing. We have been impressed by Nakashima’s thoughtful contributions to its partnership with MI Wheel and believe that under their expert leadership the UK Office of MI Wheel, which will conduct business under the Nakashima brand name, will continue to thrive.
“We greatly appreciate all of the contributions of the wonderful employees of Michigan Wheel’s UK office and look forward to their continued growth and success as part of Nakashima.”
Terry Hughes, who is staying on in the company in his new role as Managing Director of Nakashima Marine Propulsion Ltd, concluded:
“This deal establishes a fantastic opportunity for significant business growth. Having one of the world’s largest propeller and propulsion systems group as new owners creates security and an exciting future for the company and enhances the support and service to all our customers.
“By combining the strengths of both companies, we can create new synergies and will have the ability to offer world-class design and manufacturing technologies to additional geographic markets and customer segments."