Volvo Penta has signed an agreement to become the major owner of outboard motor manufacturer Seven Marine.
Seven Marine, based in Milwaukee and founded in 2010, produces luxury performance gasoline outboards for the high-end leisure market. Its outboard models are the most powerful in the world, running at 557-627 horsepower. Seven Marine’s approach to exploring new techniques and design architecture is a key factor behind Volvo Penta’s decision to become majority owner, according to the company.
“This is an exciting step for Volvo Penta,” Ron Huibers, president of Volvo Penta of the Americas, stated in a news release. “We are combining the strength of two highly innovative companies to deliver an unbeatable engine range for the gasoline segment. We will not only come to market with an extremely attractive outboard solution, but we will deliver the benefits of our world-class service network to a broader range of customers.”
Volvo Penta, with approximately 3,500 dealers in more than 130 countries, manufactures diesel and gasoline engines and power systems for boats, vessels and industrial applications.
Seven Marine will operate as a stand-alone entity retaining its brand, product line and organizational structure. Ron Huibers, Volvo Penta’s president of the Americas region, will be the chairman of Seven Marine and Rick Davis will remain as Seven Marine’s president and CEO.