Cremo boats has acquired the Bella and Flipper boats inventory from Nimbus Group.
The agreement follows the decision by Nimbus to close its Finnish small boat production in Kuopio and includes production material inventory and production equipment.
As part of its ongoing focus on the premium segment, Nimbus Group decided at the end of 2024 to discontinue the production of small boats in Kuopio.
The agreement with Intaga means that Cremo boats will gradually acquire the inventory of boats from the Kuopio facility, which is expected to be discontinued in September 2025.
Through the deal, Cremo boats will also purchase existing inventory of input materials, as well as molds and other production-related equipment.
Cremo will also receive full rights to use the Bella and Flipper brands in connection with the signing.
The agreement with Cremo boats has a clear industrial and commercial logic.
Jan-Erik Lindström
In addition, a multi-year licensing agreement has been signed by both parties to give the option for Cremo to acquire the brand after period-end.
The agreement does not include the larger Flipper boats, Flipper 900 DC and 900 ST.
Under a license agreement between Nimbus Group and Intaga, these two models will continue to be produced by Nimbus Group under the Flipper brand during a transition period.
Nimbus Group aims to start selling these under the Group’s Aquador brand over a period of time.
The Flipper models are currently manufactured at the same facility in Larsmo, Finland, as the Aquador brand boats.
The agreement does not affect the production facility in Larsmo or the smaller Falcon aluminum boats, which are also part of the Nimbus Group.
Premium segment
“The agreement with Cremo boats has a clear industrial and commercial logic,” said Jan-Erik Lindström, CEO of Nimbus Group.
“For strategic reasons, after the pandemic, Nimbus Group has increased its focus on the premium segment and decided to close the group’s Finnish plants, which, among other things, manufactured the Bella and the smaller Flipper brand boats.”
He added: “Through this agreement, we keep the larger premium Flipper boats, while the smaller Bella and Flipper boats will be taken care of by an owner whose full focus is on the small boat segment.”
Nimbus says the agreement will have a marginal impact on its results but facilitates inventory management in conjunction with the closing of Kuopio which will have a positive impact on cashflow until the deal is fully completed.
Intaga is a Swedish family business that is owned and operated by the Bengtsson family.
The Intaga Group has facilities in both Torpa/Varberg, Sweden and in Chojnice, Poland, and has around 50 employees with an annual turnover of SEK 125 million.
In addition to Cremo boats, the group also incorporates heating solution supplier Grad-in, mechanical workshop Manovi, roof box manufacturer Cremo Carbox, contract electronics company DA-Elektronik and Agafil in Poland, which manufactures bathroom units.
