Garmin (NYSE: GRMN) acquired Lumishore, a Swansea, UK-based company that designs and manufactures high-performance above and underwater LED lighting systems for boats.
The amount of the deal was not disclosed.
With the acquisition, Garmin will expand its solutions all around the vessel. A vertically integrated company with in-house R&D and production, its associates will become part of the global Garmin workforce.
Led by Eifrion Evans, Founder and CEO, Lumishore is a vertically integrated company which specializes in LED lighting, with in-house R&D and production, used on a variety of vessels from runabouts to superyachts. The company offers a comprehensive range of single, dual and full-color change underwater and above-water lighting systems. Lumishore also has a distribution center in Sarasota, Fla.
Garmin provides products that improve the aviation, automotive, fitness, marine and outdoor markets. The company is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom.
FinSMEs
22/10/2024