ePropulsion announced the acquisition of shares of ePropulsion UK to become its majority shareholder.
Following this acquisition, ePropulsion will have closer collaboration with the UK dealer network led by Steve Bruce, Managing Director of ePropulsion UK from his base in Hamble, Hampshire. Bruce will become Global Director of OEM Sales, reporting directly to Danny Tao, CEO of ePropulsion. This relationship will allow ePropulsion to expand its OEM capabilities and market exposure in the UK, a territory that has contributed to the company’s 200% sales growth in 2021 and continues to be one of main markets in Europe.
Bruce began his professional career in the military before spending ten years in sales covering various product sets and international markets. In 2005 he started in the yachting industry before founding The Special Boat Service Ltd. in 2009 to provide yacht sales, brokerage and related services. In 2014 he launched Foldable RIB (FRIB) which he paired with electric outboards and sold through a growing network of boat builders and dealerships in the US, UK and in Europe. As Managing Director of ePropulsion UK, Bruce and his team have grown the company’s UK dealer network, recently adding 15 new dealers and are responsible for the distribution of ePropulsion products.
“ePropulsion UK has been a driving force behind our expansion and strong UK offering,” said Tao. “We have worked closely with Steve and his team for several years and are extremely pleased to continue the relationship and collaborate on a closer level as we continue to strengthen our distribution in key markets.”
“I am very excited about this acquisition and excited to take on the role of Director of OEM efforts globally,” said Bruce. “Following the rapid growth we have experienced over the past few years through our network of approved boat builders, dealers and installation/service agents, I look forward to introducing the ePropulsion offering to boat builders around the world. The worldwide network of ePropulsion distributors is already well placed to serve our boat builders and with the added attention and support of the new OEM division, ePropulsion is well on its way to becoming the world leader in marine electrification .