Nimbus Group sells Bella and Flipper small-boat brands
Nimbus Group has announced the sale of its inventory and production equipment related to Bella and Flipper small boats at its Kuopio facility in Finland.
This follows the company’s decision to close the Kuopio facility and end small-boat production there, due to ongoing weak demand.
The agreement, structured as a combined asset and licensing deal, transfers the inventory and equipment to Cremo AB, a Swedish subsidiary of Intagagruppen. Under the agreement, Cremo is granted immediate rights to use the Bella and Flipper brands and has the option to acquire the brands after the licensing period ends.
Nimbus Group says the deal is expected to have a limited impact on its financial results but is anticipated to improve cash flow during the transition period. The group’s sales decreased by 20 per cent during the third quarter of 2024, and the business has tied up a lot of capital due to low demand, which has also had a negative impact on its cash flow.
The sale of Bella and Flipper boat brands to Cremo excludes the larger Flipper models, the 900 DC and 900 ST, which will remain under the Nimbus Group’s production and branding during a transition period. These models, currently produced at the Larsmo facility in Finland alongside Aquador brand boats, may eventually be sold under the Aquador name. The production of smaller Falcon aluminium boats, also part of the Nimbus portfolio, will continue unaffected.
The agreement outlines a phased acquisition process, during which Cremo Boats will purchase the Kuopio facility’s boat inventory, input materials, moulds, and other production equipment. The facility itself is expected to cease operations by September 2025.
Jan-Erik Lindström, CEO of Nimbus Group, says: “The agreement with Cremo Boats has a clear industrial and commercial logic. 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.
“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.”
