Somerset, N.J. – ePropulsion, a global leader and market challenger in marine electric propulsion systems and services, announced today the acquisition of shares in ePropulsion UK to become the majority shareholder.
As a result of this acquisition, ePropulsion will have closer collaboration with the UK dealer network headed by Steve Bruce, Managing Director for ePropulsion UK from its base in Hamble, Hampshire. Bruce will become Global OEM Sales Director, reporting directly to Danny Tao, CEO of ePropulsion. This relationship 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.
Bruce 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 Foldable RIB (FRIB) which he bundled with electric outboards and sold through a growing boatbuilder and dealer network in the U.S., UK and Europe. As the Managing Director for ePropulsion UK, Bruce and his team have grown the UK dealer network for the company, most recently adding 15 new resellers and is responsible for the distribution of ePropulsion products.
“ePropulsion UK has been a driving force in our expansion and robust offering in the United Kingdom,” said Tao. “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.”
“I am very excited about this acquisition and thrilled to take on the role directing OEM efforts globally,” said Bruce. “Following the rapid growth we have experienced in recent years through our network of authorized boatbuilders, dealers and installation/service agents, I look forward to introducing the ePropulsion offering to 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.”
For further details about ePropulsion and its range, please visit www.epropulsion.com.