Volvo Penta Acquires Majority Stake in Humphree
Per Landegren, CEO of Humphree, left, and Björn Ingemanson, president of Volvo Penta. (Photo: Volvo Penta)
Products from Humphree’s fin, interceptor and trim systems (Image: Volvo Penta)
Volvo Penta has signed an agreement to become the major shareholder of marine technology provider Humphree. The transaction is subject to conditions and expected to close within four weeks.
Having a majority share in Humphree will further accelerate the next step in Volvo Penta’s journey to become a full marine system supplier, the company said, adding it will also gain the ability to extend its range of boat dynamics solutions with new trim and stabilization functions; and Humphree will be able to access a greater client base via Volvo Penta’s international network of dealer and service centers.
Furthermore, the companies will collaborate to pursue cutting-edge solutions for a wide range of marine vessels, such as active ride control, for both marine leisure and commercial customers.
Swedish-based Humphree is a manufacturer of technology-based systems for low speed, medium speed, and high performance vessels. It supplies interceptors, optimizing trim systems which reduce pitch and roll, steering alternatives to waterjet bucket deflection, sub-cavitating and base-ventilated stabilizing fins, and hydrodynamic services.
In recent years, Volvo Penta has used Humphree as a supplier for its Interceptor System (IS). An upgrade to the IS will be launched this year.
Björn Ingemanson, president of Volvo Penta, said, “Both companies are leaders within their respective segments in the marine industry, which has resulted from having a passion for developing and manufacturing high quality, innovative systems. This, of course, benefits the end user.”
Volvo Penta has more than a century of experience in the development, manufacture and marketing of engines and complete power systems for boats and industrial applications, with customers in more than 130 countries around the world.
Humphree was founded in 2001 by a team of hydrodynamic experts and marine engineers. It has a global presence, which will be enhanced by its association with Volvo Penta. Humphree will operate as a stand-alone entity retaining its brand, product line and organization.
“With an even closer working partnership, we can fully access Humphree’s expertise in its field,” said Johan Carlsson, senior vice president of product planning, product development and purchasing at Volvo Penta. “We can explore further technological avenues to ensure expanded functionality of our marine systems.”
Greater assimilation of new functionality represented by Humphree into Volvo Penta-powered marine vessels will mean increased speed and performance, enhanced maneuverability and comfort, and better monitoring and safety for the end user.
Humphree’s CEO, Per Landegren, said, “This is a great chance for us to fully establish ourselves on the international stage and open up our products to new markets. We will enhance our continuous development of the Humphree product portfolio, while taking advantage of the benefits that Volvo Penta’s marine experience brings.”
