Rafnar, based in Iceland, has focused on producing 11-meter-long boats based on the patented design of Össur Kristinsson, founder of the prosthetics company Össur. These boats, known as Rafnar-1100, are used extensively, including by the Icelandic Coast Guard and various rescue teams. Rafnar plans to introduce new boat sizes to the market soon.
The acquisition is seen as a strategic move to better control the growth and development of the Rafnar brand. Benedikt Orrason, CEO of Rafnar, expressed satisfaction with the acquisition, anticipating significant revenue growth for Rafnar-Hellas next year.
Key personnel and founders of Rafnar-Hellas will join the executive board of the parent company while retaining partial ownership. The acquisition is expected to significantly strengthen Rafnar’s international technology, service, and production team. Rafnar-Hellas aims to increase its production capacity, currently at about 25 boats per year, starting next year.
Rafnar-Hellas has primarily produced boats for Rafnar’s Mediterranean customers but has recently started producing for the American market and unmanned maritime vessels in collaboration with a major foreign technology company, including for a client in Asia.
Bjorn Arsaell Petursson, Chairman of Rafnar, highlighted the exciting opportunity presented by the acquisition, emphasizing the company’s commitment to meeting the high demand for Rafnar boats while maintaining quality and innovation in production.
