ePropulsion to acquire major shares in its UK distributor
by ePropulsion 10 Jun 2022 06:47 PDT
Group photo of Danny, Steve and UK team © ePropulsion
ePropulsion, a global leader and market challenger in marine electric propulsion systems and services, has today announced the acquisition of shares in ePropulsion UK, to become the majority shareholder of its distributor for its electric marine products across the United Kingdom.
As a result of the acquisition, ePropulsion will have closer collaboration with the UK dealer network headed up by Steve Bruce, Managing Director for ePropulsion UK from its base in Hamble, Hampshire and he will become Global OEM Sales Director, reporting directly to Danny Tao, CEO of ePropulsion. The acquisition will enable ePropulsion to expand its OEM capabilities and market exposure in the UK, a territory which has contributed to the company's 200% sales growth in 2021 and continues to be one of the leading markets in Europe.
Steve began his professional career in the military before spending ten years in sales covering diverse product sets and international markets. In 2005, he started in the leisure marine industry before founding The Special Boat Service Ltd. in 2009 to provide yacht sales, brokerage and associated services. In 2014 he launched the Foldable RIB (FRIB) on the market and from the outset packaged electric outboards with them through the growing boatbuilder and dealer network in the UK, Europe and USA. As the Managing Director for ePropulsion UK, Steve and his team have grown the UK dealer network for the company, most recently adding 15 new dealers to the business and is responsible for the distribution of ePropulsion products across the country.
Danny Tao, Co-Founder and CEO of ePropulsion said: "ePropulsion UK has been a driving force in our expansion and robust offering in the United Kingdom. We've worked closely with Steve and his team for a number of years and are extremely pleased to continue the relationship and collaborate on a closer level as we continue to strengthen our distribution across key markets."
Steve Bruce, Managing Director of ePropulsion UK added: "The team here at ePropulsion UK are very excited about the merger and our new role as Group OEM Division. ePropulsion UK is ideally located on the River Hamble with showroom and workshop facilities in what is fast becoming the UK epicentre of electric boating. Following on from the rapid growth we have experienced here in recent years, through our network of authorised boatbuilders, dealers and installation/service agents, we look forward to developing the ePropulsion offering for boatbuilders around the world. The ePropulsion global network of distributors is already well placed to service our boatbuilders and with the additional focus and support from the new OEM division, ePropulsion is set to be the world leader in the drive towards marine electrification."