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  BEP Marine Electric Now An American Company

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Author Topic:   BEP Marine Electric Now An American Company
jimh posted 09-11-2006 11:39 PM ET (US)   Profile for jimh   Send Email to jimh  
This is somewhat old news, but I had not seen it mentioned before:

Actuant Acquires B.E.P. Marine Limited
Business Wire, Dec 16, 2005

MILWAUKEE -- Actuant Corporation (NYSE:ATU) announced today that it has
purchased the outstanding stock of B.E.P. Marine Limited ("B.E.P.
Marine") for approximately $8 million plus an earn-out tied to future
earnings growth. Funding was provided from borrowings under Actuant's
revolving credit facility.

B.E.P. Marine, based in Auckland, New Zealand, generated approximately
$10 million of sales in the last twelve months and employs approximately
70 associates. It maintains a leading market position selling AC and DC
control panels, digital monitoring systems, battery switches and battery
distribution products, waterproof switch panels, and gas detectors
primarily to original equipment manufacturer (OEM) boat builders and the
marine aftermarket. No other financial terms are being disclosed.

B.E.P. Marine will be part of the Actuant Recreational Group within
Actuant's Tools & Supplies segment. Mark Goldstein, Executive Vice
President of Actuant and Tools & Supplies Segment Leader, stated,
"B.E.P. Marine is a natural addition to the Actuant Recreational Group.
While our Marinco products provide power from the dock to the boat, and
Ancor products carry the electrical power within the boat, B.E.P.
Marine's power control panels and distribution systems manage all
electrical power on the boat. Its innovative new product development
competencies, as well as opportunities to expand the product lines
offered by the Actuant Recreational Group, make this an attractive
acquisition for Actuant. Ross Pratt, Mark Raines, and Chris Wilkins, the
current Directors of B.E.P. Marine, and their team have worked hard to
develop a strong brand and position in the marketplace. They are joining
the Actuant Recreational Group management team, reporting to Marty
O'Donohue, Actuant Recreational Group Leader."

jimh posted 09-11-2006 11:41 PM ET (US)     Profile for jimh  Send Email to jimh     
In case you missed it in the fine print, BEP is now owned by same company that also own Ancor and Marinco, two other well-known marine electrical manufacturers.

Actuant is from Milwaukee, Wisconsin, the ancestral home of the outboard motor and in the backyard of Mercury and Bombardier.

Chuck Tribolet posted 09-11-2006 11:51 PM ET (US)     Profile for Chuck Tribolet  Send Email to Chuck Tribolet     
This will be worth watching as an alternative to Blue Sea
Systems stuff.


jimh posted 09-12-2006 12:07 AM ET (US)     Profile for jimh  Send Email to jimh     
You can get BEP products from Boater's World, their main U.S. Retailer: SearchView?storeId=10051&catalogId=10051&langId=-1&keyword=BEP&x=0&y=0

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