Please select your home edition
Edition
Sydney Boat Show 2025 - Apply to Exhibit

US Thermal imaging company FLIR Systems buys Raymarine

by MarineBusiness-World.com on 15 May 2010
US Thermal imaging company FLIR Systems announced today that it has entered into a definitive agreement with the Administrator of Raymarine plc to acquire all of the outstanding shares of its wholly owned subsidiary, Raymarine Holdings Limited.

In a statement today FLIR says 'The transaction value of approximately $180 million includes repayment of all of Raymarine's indebtedness and approximately $24 million in proceeds to Raymarine plc which is equivalent to 20 pence per ordinary share. The acquisition represents the entire business operations of Raymarine and its subsidiaries.

'Raymarine, a world leader in the marine electronics industry, provides the most comprehensive range of electronic equipment for the recreational boating and light commercial marine markets. For the twelve months ended December 31, 2009, Raymarine reported revenue of approximately $170 million.

'The acquisition furthers FLIR's strategy in the marine market by dramatically increasing its maritime distribution network with the addition of Raymarine's 1,000 dealer outlets and 400+ marine OEMs, nearly all of which are additive to FLIR's existing distribution.'

Headquartered in Wilsonville, Oregon, the FLIR also has manufacturing facilities in Portland, Massachusetts, Sweden and France. Worldwide FLIR employs in excess of 1,900 people, with more than 1,200 located in the United States.

While Raymarine has focused on the marine sector FLIR has a much wider sales base, covering general industrial, military and marine sectors. Its 2008 annual sales exceed US$1 billion.

FLIR says it plans to expand Raymarine's product line breadth by integrating thermal imaging cameras with Raymarine's display, radar and autopilot product lines to create the broadest, most effective, and easiest to use suite of products in the marine electronics industry.

'We are pleased to announce this strategically compelling transaction,' commented Earl Lewis, President and CEO of FLIR. 'Raymarine is a leading brand in the industry and has an outstanding reputation for high quality marine electronics equipment. When fully integrated, we expect to have a significant marine electronics business as part of our Commercial Systems business. I welcome Raymarine's employees to FLIR.'

FLIR says it anticipates this transaction will be neutral to 2010 earnings, excluding one-time charges, and accretive in subsequent years.

About FLIR Systems

FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of thermal imaging and stabilized camera systems for a wide variety of thermography and imaging applications including condition monitoring, research and development, manufacturing process control, airborne observation and broadcast, search and rescue, drug interdiction, surveillance and reconnaissance, navigation safety, border and maritime patrol, environmental monitoring and ground-based security.

About Raymarine

Raymarine is a world leader in the supply of electronic products for the recreational and light commercial marine markets. It manufactures a comprehensive range of marine navigation, communication and safety products including multifunction displays, radars, autopilots, cameras, fishfinders, GPS enabled chartplotters, automatic identification systems and instruments. The Raymarine Group is headquartered in Portsmouth, United Kingdom and maintains offices in the United States, Australia, Singapore, France, Germany and Italy.
Sydney Boat Show 2025 - Apply to ExhibitZhik 2024 DecembersMRT AIS Man Overboard Beacons AUS / NZ

Related Articles

Rooster Sailing's 2025 Collection Just Dropped
From the redesigned Technical Shorts to the all-new SB2 Deck Trainers From the redesigned Technical Shorts to the all-new SB2 Deck Trainers, the 2025 collection has been developed with real sailors, for real conditions.
Posted today at 4:00 pm
Expanding horizons with West System Epoxy
Working on D-Class boats over the years sparked Jonathan Minnebo's love of sailing Returning to his roots, Jonathan Minnebo has broadened his sights from solely shipwright work to creating bespoke furniture and staircase design and installation.
Posted today at 6:54 am
2025 Santa Maria Cup in Annapolis, USA Day 2
Final four skippers emerge from a competitive qualifying double-round robin stage A thrilling second day of racing at the 2025 Santa Maria Cup saw the final four skippers emerge from a competitive qualifying double-round robin stage.
Posted today at 4:47 am
SailGP to Kick Off Summer in New York
With this Weekend's Mubadala New York Sail Grand Prix An unforgettable weekend of high-speed, close-to-shore racing and world-class entertainment will take place this weekend when the Mubadala New York Sail Grand Prix takes place in front of the most famous skyline in the world.
Posted on 5 Jun
Scandinavian Gold Cup at Sopot, Poland Day 1
A slow start with very little wind The Scandinavian Gold Cup opened Thursday in Sopot, Poland, with seven 5.5 Metres competing for this historic and iconic trophy that dates back to 1922. Unfortunately, there was not enough wind to even complete one race.
Posted on 5 Jun
49er, 49erFX and Nacra 17 Europeans Day 3
A six-hour bake on the water Veteran and multi-Olympic race officer Sulis was clear at the morning briefing, "Our priority is to get three races for the 49er so they can progress to the gold fleet."
Posted on 5 Jun
Galicia 52 Super Series Royal Cup Day 3
Platoon Aviation turn up the heat but don't dent American Magic Quantum Racing's lead After a disappointing first regatta of the season when they finished in an uncharacteristic last position in Saint-Tropez, the fortunes of the German flagged 2023 52 SUPER SERIES overall champions Platoon Aviation seem to have turned for the better.
Posted on 5 Jun
Diverse international fleet for 5th AEGEAN 600
The race start is a little over 1 month away In a sign that this newest of the world's 600-mile classic offshore races has reached maturity, organizers from the Hellenic Offshore Racing Club are pleased to announce yet another large international fleet will be assembled for the 2025 AEGEAN 600.
Posted on 5 Jun
America's Cup: Another sponsor signs for Italians
Luna Rossa has announced that Unipol has renewed its trust in the team Luna Rossa has announced that Unipol has renewed its trust in the team and will accompany it as an official sponsor for the duration of the 38th America's Cup.
Posted on 5 Jun
SailGP: Media Conference concludes in New York
Skippers speak ahead of the Mubadala New York Sail Grand Prix The media conference ahead of the Mubadala New York Sail Grand Prix has concluded, without any special points being revealed, save for Brazil lending a crew member to Germany.
Posted on 5 Jun