Raven Industries, Inc. announces that its Applied Technology Division (ATD) has acquired SBG Innovatie BV and its affiliate, Navtronics BVBA. Headquartered in Middenmeer, Netherlands, SBG manufactures advanced GPS steering systems for a variety of agricultural applications. The acquisition broadens Raven’s guided steering system product line by adding high-accuracy implement steering applications. Additionally, SBG’s headquarters will become the new home office for Raven in Europe, expanding the company’s global presence and reach into key European markets. The purchase is not expected to have a material impact on Raven’s fiscal 2015 results.
“SBG specializes in very precise, real time kinematic, or RTK, GPS steering systems with a focus on high-value crops. Their highly accurate implement steering technology broadens Raven’s existing product line and integrates well into the Raven product portfolio.” said Matt Burkhart, ATD’s Division Vice President and General Manager. “We are proud to welcome the SBG organization into the Raven family. Our innovative cultures align very well, and SBG’s leading technology and strong team members will be a great compliment to further Raven’s position as a leader in the precision ag market.”
“Our priorities within ATD are to drive growth through international market expansion, new products and broadening OEM relationships,” said Daniel A. Rykhus, Raven’s president and chief executive officer. “We believe SBG can help further these strategies and position us for success in new markets.”
“We’re excited to join Raven so that, together, we can expand Raven’s footprint in key geographies and augment their expertise and product line,” said Rik van Bruggen, managing director of SBG. “In turn, Raven’s scale and resources will allow SBG to realize our dream of growing the business and helping customers increase yields and efficiencies. Raven is a good partner for us because they are committed to increasing their presence in Europe and providing additional opportunities for our team.”
Effective immediately, SBG’s products will be offered as a part of Raven’s lineup of precision ag products. Sales team members from both companies will be offering the combined product lines.