Yanmar Buys Propeller Manufacturer
05 December 2017
Yanmar has announced that it has reached an agreement on the acquisition of 100% of the shares in Flexofold ApS. Flexofold, located in Denmark, is a developer and manufacturer of low-drag folding propellers for sailboats and multihull yachts.
Shiori Nagata, president of Yanmar Marine International said “Flexofold is a great company and we are pleased to announce that Flexofold is joining the Yanmar Group. Flexofold and Yanmar are both leaders and strong brands in their respective segments in the recreational marine industry. Together, we will be able to further expand and strengthen our product offerings to sailboat builders, distributors and ultimately sailboat end-users.”
Jack Skrydstrup, founder of Flexofold said: “We are very proud to join the Yanmar Group. The strategic fit between Flexofold’s sailboat propellers and Yanmar’s recreational marine products, including their marine engines, is obvious. Moreover, we share the same entrepreneurial spirit and being part of Yanmar is an excellent move for Flexofold to continue and accelerate its ambitions as a global premium sailboat propeller provider.”
Flexofold will continue to operate from Denmark, maintaining its own distinct brand identity. Jack Skrydstrup, founder of Flexofold, will remain employed at Flexofold as special adviser focusing on R&D and product development.