Michigan Marine Propulsion (MMP), the European business of Michigan Wheel, has been acquired by Nakashima Propeller.
Michigan Wheel was established in 1904, and is one of the oldest propeller manufacturers in the USA.
The divestiture of the operation will allow the company to focus on its core market segments, particularly its expanding government business division.
The move is intended to align with the company’s long-term vision of strengthening its position in high-value sectors while optimising operational efficiency.
The company plans to use the monies raised through the sale to expand its production capabilities, accelerate innovation initiatives, and enhance its service offerings to government, commercial and recreational customers.
Nakashima Propeller previously acquired 30% of Michigan Wheel in 2013 and this latest transaction builds on the partnership.
“This transaction represents a pivotal moment in Michigan Wheel’s growth strategy,” explained Bruce Dieterle, CEO of Michigan Wheel.
This transaction represents a pivotal moment in Michigan Wheel’s growth strategy.
Bruce Dieterle
“By concentrating our resources on our core markets, we are positioning the company for accelerated growth and enhanced market leadership.”
Michigan Wheel’s UK office has evolved and expanded since its inception.
The organisation began as a start-up sales and marketing office and under the leadership of Terry Hughes, has developed into a full-service sales, repair and manufacturing operation while also growing its European footprint.
Nakashima Corporation says the acquisition of Michigan Wheel’s UK operations reinforces its strategic vision for international expansion and enhances its global market presence.
European market
The addition of Michigan Wheel’s UK facilities and staff is also set to bolster Nakashima’s manufacturing capabilities and customer base in the European market.
“Nakashima is a global leader in propeller technology and manufacturing.
“We have been impressed by Nakashima’s thoughtful contributions to its partnership with MI Wheel and believe that under their expert leadership the UK office of MI Wheel, which will conduct business under the Nakashima brand name, will continue to thrive,” said Cory Gaffney, managing partner of The Anderson Group, MI Wheel’s private equity partner.
He added: “We greatly appreciate all of the contributions of the wonderful employees of MI Wheel’s UK office and look forward to their continued growth and success as part of Nakashima.”
Nakashima Propeller is based in Okayama, Japan, with an additional factory in Philippines.
The company manufactures various types of propulsion systems for a range of vessels.
Going forward, the new operation will be known as Nakashima Marine Propulsion Ltd, based in Newton Abbot, UK.
