Nimbus Group expands dealer network into Mexico
Swedish boatbuilder Nimbus Group has entered into a dealer distribution agreement with The Boat Cave, designating the company as its first dealer in Mexico.
The agreement covers the distribution of both EdgeWater and Nimbus brand boats throughout the Yucatán Peninsula. Initial shipments of boats from both brands have already been delivered to the dealership.
The Boat Cave operates from Mérida, Mexico. The dealership is currently expanding its operations and is involved in the development of a new marina.
“This marks a key step in our international expansion strategy and our first footprint in South America,” says Nicklas Bergström, commercial sales director of Nimbus Group. “The Boat Cave brings local market knowledge, infrastructure, and a strong passion for boating, making them a valuable partner for our brands in the region.”
Emilio Vales, co-owner of The Boat Cave, adds: “This is a brand portfolio that fits our customers perfectly. We’re excited to bring boats that offer a rare combination of performance, quality, and design to families and boaters throughout the Yucatán.”
The news comes a week after Nimbus appointed Morgan Marine as its official UK dealer. The dealership, based in Brightlingsea, will now offer Nimbus’ full line-up, including the T11, C11 and Weekender series.
Nimbus Group manufactures and markets powerboats under several brands, including Alukin, Aquador, EdgeWater, Falcon, Flipper, Nimbus and Paragon Yachts. Its sales are primarily conducted through a dealer network, with its main markets located in the Nordic region, Europe and the US.
In 2023, Nimbus Group expanded its North American presence through the acquisition of EdgeWater Power Boats. For 2024, the group reported sales of SEK 1,619m (£124m) and had 377 employees. Its operations span Sweden, Finland, Poland, England, Norway and the US.
A major structural change for Nimbus in 2024 involved discontinuing small boat production in Finland. The decision, resulting in one-off costs and restructuring expenses of SEK 55m (£4.29m), followed a previous surge and subsequent fall in demand for small boats. Production of these models, including Bella and smaller Flipper boats, has been divested to Cremo Boats. The group also began local production of the Nimbus T8 in the US to reduce logistics costs and adapt to market conditions.
The company has been listed on Nasdaq Stockholm First North since February 2021.
