Nimbus Group sells Bella and Flipper inventory
Nimbus Group has signed an agreement to sell the Bella and Flipper small boat brands to Cremo AB, a subsidiary of Intaga Group. The directed asset deal includes all existing inventory, production material and equipment.
The Swedish Intaga Group is owned and operated on a long-term basis by the Bengtsson family and includes heating solution supplier Grad-in AB, the mechanical workshop Manovi AB, the roof box manufacturer Cremo Carbox, the electronics company DA-Elektronik and Agafil in Poland. The Intaga Group has facilities in both Torpa/Varberg, 60 kilometers south of Gothenburg, and in Chojnice in Poland.
Carl-Tore Bengtsson, CEO of Intaga AB, said:
“We are very pleased to have the confidence and opportunity to buy two such well-known and appreciated brands as Flipper and Bella. The acquisition fits perfectly into the Intaga Group, as we acquired Swedish Monark / Crescent leisure boats in 2019 and also the boat factory located in Chojnice in Poland. We have reorganized the entire production and will launch new Cremo boat models.
“The timing is perfect and we hope that all Bella/Flipper owners and not least the dealers are happy that the brands live on in safe hands.”
The powerboat manufacturer Nimbus Group was founded in 1968 in Långedrag, outside Gothenburg, where the head office is still located. Since then, several brands have been added to the portfolio of what today is the Nimbus Group. Nimbus Group now comprises the brands Alukin, Aquador, Bella, Falcon, Flipper, Nimbus and Paragon Yachts, with operations in Sweden, Finland, Poland and in the UK.
The decision to sell the Bella and Flipper small boat brands follows the decision to close the Finnish small boat production in Kuopio. The agreement does not include the larger Flipper boats, Flipper 900 DC and 900 ST. As stated in a license agreement between Nimbus Group and Intaga, these two models will continue to be produced by Nimbus Group under the Flipper brand during a transition period, but over time Nimbus Group aims to sell these under the Group’s Aquador brand, which are manufactured at the same facility in Larsmo, Finland.
The agreement does not affect the production facility in Larsmo or the smaller Falcon aluminum boats, which are also part of the Nimbus Group.
The agreement with Intaga means that Cremo Boats will gradually acquire the inventory of boats from the Kuopio facility, which is expected to be discontinued in September. Through the deal, Cremo Boats will also purchase existing inventory of input materials, as well as molds and other production-related equipment, and the boats will be built in the Cremo factory in Chojnice.
This deal is part of Nimbus’ ongoing focus on the premium segment. Jan-Erik Lindström, CEO of Nimbus Group, commented:
“We are pleased to have completed the sale of Fazeley Mill Marina to The Rothen Group.
“The agreement with Cremo Boats has a clear industrial and commercial logic. For strategic reasons, after the pandemic, Nimbus Group has increased its focus on the premium segment and decided to close the group’s Finnish plants, which, among other things, manufactured the Bella and the smaller Flipper brand boats.
“Through this agreement, we keep the larger premium Flipper boats, while the smaller Bella and Flipper boats will be taken care of by an owner whose full focus is on the small boat segment.”
Following the acquisition, Cremo Boats will now be able to offer around 30 boat models in the 4-8 meter length range.
Bengtsson concluded:
“We have very good support from the Polish authorities there and with the acquisition we will hire at least 50 employees in many different professional categories for the factory.
“In addition, it also means more positions on the sales and marketing side at the head office in Varberg.”