Nexus Marine acquired by Dean Barker and Richard Macalister
by Peta Stuart-Hunt on 26 Feb 2009
With the world economy suffering a period of such upheaval and uncertainty, it is a major boost for the Swedish-based marine electronics company Nexus Marine AB, to announce that a couple of top flight names operating at the sharp end of international yacht racing, Richard Macalister and his business partner, the America’s Cup skipper Dean Barker, have acquired the majority shareholding in this Stockholm-based company.
New part-owner, Dean Barker, will give added profile and racing expertise to Nexus AB Crosbie Lorimer http://www.crosbielorimer.com
The deal has been struck through their investment arm, Barmac Holdings, with the balance of shares being held by Layline AB, an investment company owned by Jan Silfven and Jonas Magnér, both of whom hold senior management positions at Nexus Marine AB.
Nexus Marine is a leading manufacturer of navigation instrumentation for racing and cruising yachts. Formed in September 2006 out of the manufacturing arm of the Silva Group, the Nexus brand brings with it 70 years of experience in the design and manufacture of precision navigation instruments, and continues to uphold that heritage with a product range that combines the very latest in technology and styling.
Mirroring core values
In buying into this heritage, Barker and Macalister have recognised in Nexus the core values that have made their own business in New Zealand, Kiwi Yachting Consultants, such a success. It’s a simple but hard to beat formula. Nexus provides the right ethos and mix of products, excellent R&D and a strong customer service arm resulting in an intensely loyal customer base. The acquisition enhances the business of Kiwi Yachting Consultants which will be responsible for distribution in the Southern Hemisphere and sales in New Zealand, allowing the company to invest in improved distribution practices that will benefit all the companies that it represents.
Sales & Marketing Director, Jonas Magner, speaking on behalf of Nexus Marine AB, commented: 'We are really excited to welcome Barker and Macalister to Nexus Marine. With their guidance and experience we are immediately adding extra impact to everything we do from now on. The extra credibility for this heritage brand and an even sharper focus on product design and development aimed at the very top end of yacht racing, something we’re already very good at...means we can only do it better, and who better to do it with!'
Richard Macalister adds: 'As much as his Emirates Team New Zealand commitments will allow, Dean (Barker) will be an active participant in helping to move the business forward and we’re both 100% committed to further building and enhancing the brand profile in the professional yacht racing arena.'
In tandem with the arrival of Barker and Maclister, Nexus bids a fond farewell to Tony Kent who is retiring from his role as Chairman, having led the company through the major transition from the Silva Group in 2006/2007 to introduce the new Nexus corporate identity. With this came the job of familiarising the market and its customers with the new name and branding. The process of explaining the separation of Silva and Nexus continues, but the message is now familiar to the vast majority operating within the marine electronics world, and it has been reinforced by the plethora of Nexus products being launched during 2007/08.
On his retirement, Tony comments: 'It is fabulous to see the work of the last three years being recognised and rewarded in such challenging times. The new owners bring a valuable synergy to Nexus and it’s exciting to know that their positive ‘can do’ attitude is taking the business forward.'
Tony Kent has been replaced at Nexus Marine by a new General Manager, Greg Franc de Ferriere who was an employee at Kiwi Yachting Consultants and recently finished his MBA at Auckland University. Macalister and Barker will not be involved in the day-to-day running of Nexus Marine.
Maintaining a high profile at regattas
The new management team is coming in at a pivotal time in the Nexus Marine story. The sponsorship of high profile events including Kieler Woche and Cowes Week, the great results of boats around Europe and the southern hemisphere equipped with Nexus instruments, and of course the extensive programme of regatta support, have all made a massive contribution to keeping this brand in the public eye and reinforcing the association of the Nexus brand with the very best in yacht racing.
Electronics and other equipment from Nexus Marine can be found on leading racing boats throughout Europe, the USA and throughout Australasia. Many thousands of cruising boats also fit Nexus for the high standards of quality, customer service and good looks that are synonymous with the Nexus brand.