Volvo Penta has signed an agreement to become the major owner of the innovative outboard motor manufacturer, Seven Marine, enabling the Swedish company to extend its scope of world-leading integrated propulsion systems.

Björn Ingemanson, President of Volvo Penta, said: “With this acquisition, Volvo Penta is entering the outboard motor segment. With Seven Marine, we are on a journey to expand the scope of supply with our customers and invest in the growth of a platform to shape the future of the outboard industry.”

The deal will broaden Volvo Penta’s technology platform, offering a modular solution, regardless of the energy source, to deliver the desired power in the water. Seven Marine will further develop its existing innovative outboard technology.

Ron Huibers, President of Volvo Penta of the Americas, said: “This is an exciting step for Volvo Penta. We are combining the strength of two highly innovative companies to deliver an unbeatable engine range for the gasoline segment. We will not only come to market with an extremely attractive outboard solution, but we will deliver the benefits of our world-class service network to a broader range of customers.”

Seven Marine, based in Milwaukee, Wisconsin USA, was founded in 2010 by a team with many years’ specialist experience in marine technology.

With a proven track record in delivering high performance gasoline outboards for the high-end leisure market, Seven Marine produces the outboard models running at 557 and 627 hp.

The company’s small block V8 engines are fitted horizontally and leverage modern, automotive quality and technology. This includes the use of fresh-water cooling for enhanced durability and corrosion protection and a supercharger.

Volvo Penta has over 110 years of experience as a market leader in engine and propulsion systems innovations including the Aquamatic Sterndrive, Volvo Penta IPS, and Forward Drive.

The use of automotive technology is a common aspect between Volvo Penta’s gasoline sterndrive range and Seven Marine’s outboard motors.

With this acquisition, the two companies will collaborate to continue to develop Seven Marine’s leading outboard offerings, which not only leverages the strength of the company’s existing technology, but also has sustainability in mind.

Ingemanson added: “The Seven Marine concept mirrors the successful strategy we have followed in pursuing automotive technology. Just as we are a leader in diesel and gasoline engine technology, Seven Marine leads its market for state-of-the-art outboards.

“We have a shared vision for the future, and this deal provides an ideal platform for us to grow and adapt together. We will move forward in leading the development of world-class performance and sustainability for the most premium of outboard motor segments.”

Seven Marine will operate as a stand-alone entity retaining its brand, product line and organisational structure. Ron Huibers, Volvo Penta’s President of the Americas region, will be the Chairman of Seven Marine and Rick Davis will remain as Seven Marine’s President and CEO.

Davis said: “This is a great development for us. As a young company we have pushed ourselves forward to revolutionise the outboard experience in a short period of time. And in partnering with Volvo Penta, we will have a solid backing to continue improving the customer experience through the pursuit of technological and innovation advancement.”

The agreement is subject to conditions and is expected to close in the future.