America News: Brunswick to sell BNT’s fleet management business

Sharon

Sharon Gill

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17th July 2007

Brunswick Corp has reached a definitive agreement to sell Brunswick New Technologies' (BNT) fleet management business unit to Navman Wireless Holdings.

Terms of the transaction were not disclosed, and completion of the sale is subject to customary conditions.

Navman Wireless Holdings was formed by Chicago-based private equity company, Prairie Capital, to acquire the business.

BNT's current executive team will continue to manage Navman Wireless.

Brunswick announced a year ago that it intended to sell all of the BNT operations, and sold BNT’s portable navigation device (PND) operations to MiTAC earlier this year.

“This transaction will essentially bring the sale of the BNT business units to a close,” said Dustan McCoy, chairman & CEO of Brunswick.