Finnish motorboat producer Finn-Marin has been sold to Terra Patris Oy, a Finnish conglomerate that has taken a 60% stake in the firm. The acquisition will allow Finn-Marin to further develop the Grandezza and Finnmaster brands and continue to expand in international markets.
Terra Patris is a family-owned company that operates in several industries, including boat manufacturing through its subsidiary Seliö Boats. Seliö builds recreational craft for Kesko under the Yamarin brand.
Finn-Marin founders Osmo Roukala and Jarmo Kinnunen will remain with the business to ensure its future success. “Fast and profitable growth requires additional resources in order for us to design and develop boats that meet top international requirements,” says Jarmo Kinnunen, Finn-Marin's export director.
“International sales, together with leading global industry operators such as Yamaha Motor Scandinavia, also require 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 of the Finnmaster range 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,” Kinnunen adds.
According to Finn-Marin MD Osmo Roukala, the company has completely renewed its product portfolio over the past four years, allowing it to strengthen its position in domestic and international markets. Today, around 80% of the group’s €20m turnover comes from exports.
“We actively seek companies that show potential with strong, valuable brands and which are looking for fast international growth,” says Jari Löfroos, majority owner of Terra Patris. “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 internationalisation. I believe that this is the first step in the boat industry restructuring.”