Owners of Finn-Marin Ltd Osmo Roukala and Jarmo Kinnunen believe that further development and
internationalization will ensure the future of the Finnish boat manufacturing industry.
As announced on Thursday 19th February Terra Patris Ltd has acquired 60 % ownership of the boat
manufacturer Finn-Marin Ltd, the company behind the Finnmaster and Grandezza brands produced in
Kokkola and Kalajoki. The acquisition supports the boat manufacturer’s intent to further expand
internationally and increase co-operation with leading industry operators. The ongoing structural change in
the boating industry is in the backgound of the acquisition.
-“Only the companies that have managed to renew their product portfolio according to
increasingly demanding clients and find international growth despite the market situation
have been able to expand and operate profitably. Finn-Marin is undoubtedly a part of this
top-tier group. We have continuously strengthened our position in domestic and
international markets. The product portfolios for both our brands have been completely
renewed in the past four years. A growing part of our sales, today some 80 % of 20M€
turnover comes from international markets”, says Managing Director of Finn-Marin Ltd
-“Fast and profitable growth requires additional resources in order for us to design and
develop boats and yachts that meet top international requirements. International sales
together with leading global industry operators such as Yamaha Motor Scandinavia also
requires more resources. We believe the new ownership arrangement will enable us to
intensify our relationships with them in the future. Yamaha Motor Scandinavia has been the
sole distributor for Finnmaster in Scandinavia for the past 12 years with the strongest sales
network in the area. We will now be able to continue providing the best products for our
dealers”, says Export Director Jarmo Kinnunen.
-“Together with our partner Astrum we have built the success of the Grandezza brand in
Finland accomplishing a clear market leader position. This co-operation and brand
development also requires considerable investments and the co-operation with Terra Patris
also allows preparing for that”, Roukala continues.
-“A considerable step forward was taken in Spring 2013 when Terry Stanton became our
international sales director. He has over 40 years experience in the industry and together
with the renewed Grandezza product portfolio in only two years he has been able to
generate considerable growth in the European market. The new ownership structure will
bring increased resources in the further development of marketing and sales in Europe”, says
Fast growth from international markets
Founded in 2000 the family-owned Terra Patris Oy operates in the boating industry through its subsidiary
Seliö Boats which manufactures recreational boats for Kesko under the Yamarin brand.
-“ We actively seek companies that show potential with strong, valuable brands and which
are looking for fast international growth. Finn-Marin meets those requirements and with
boat manufacturing being at the core of our business the Finn-Marin brands are a perfect fit.
Terra Patris is able to provide Seliö Boats and Finn-Marin the financial and managerial lever
they require for fast growth and internationalization. I believe that this is the first step in the
boat industry restructuring. The Finnish boat manufacturing industry needs to join resources
and skills in order to grow, succeed and make sure that top quality boat production stays in
Finland”, says majority owner of the group Jari Löfroos.
-“This is an important step for business. Finn-Marin has searched and found a stepping stone
required for the further development of our brands and fast international expansion. This
way we are also able to ensure that the Finnish boat manufacturing tradition and
craftmanship stays in all production sites of the company. The continuum of the Grandezza
and Finnmaster brands is in the best interest of our clients as well as our domestic and
international principals” state Roukala and Kinnunen who will both continue in the operative
management of the company.
For further information please contact
Osmo Roukala, Finn-Marin Ltd
tel. +3584005 62008
Jari Löfroos, COB Terra Patris Ltd
tel. +3584055 66516