Saari Partners joins forces with Navix, a leading partner for leisure boat manufacturers
Saari Partners invests in Navix together with its current management, aiming to capture growth in the European markets.
Navix Oy is the leading industrial design partner for leisure boat builders in the Nordics. Navix is a one stop shop – delivering everything from engineering and design of electrical systems, design of plastic products all the way to manufacturing. The company’s turnover in 2020 was 11,1 Meur and it is expecting a 40% increase in revenue for 2021. Navix is headquartered in Paimio, Finland and has a production facility in Haapsalu, Estonia.
“Boating has been my passion for quite a while, and it is truly inspiring to get to work with the experienced people in Navix to take both the company and industry forward,” says Mikael Lönnroth from Saari Partners. “Navix has succeeded in combining industrial and electrical design into high quality manufacturing, and by this creating components to the customers that are both functional, esthetic and sustainable,” he continues.
CEO Peter Engblom, Production Director Ami Aalto ja Design Director Jaakko Serola continue as significant shareholders.
“Our next steps are taking Navix towards wider international customers in Europe, but we also plan to expand our product offering and develop new solutions within electronics and electric systems,” Peter highlights some future plans. “In the boating industry, we can observe similar trends as in automotive industry — modern manufacturers are interested in a service model which improves on both quality and efficiency,” he elaborates.
“Though the leisure boat industry is in the middle of a boom resulting from the COVID-19 pandemic, we see positive long-term trends as well to supports Navix’s growth, especially within the technology area. This transaction offers Navix better means to capture that growth,” Mikael concludes.
Mikael Lönnroth, Saari Partners, +358 451200011
Peter Engblom, Navix Oy +358 405878009