Defensor Group AB has signed an agreement to invest in Zulu Marine AB through a directed share issue. With this transaction, Defensor becomes the majority owner of the company, with the possibility to further increase its ownership, as stated in a press release from the companies.
Zulu Marine develops boats for professional use, focusing on authorities and operations in demanding environments. The company has production in Sweden and supplies boats, among others, to the Swedish Police Authority's marine police operations. According to the companies, the investment will be used to increase production capacity and to develop new boat models and concepts. The development work will continue to be based on performance, endurance, and operational reliability requirements for authority users.
Max Jägerbring, CEO of Defensor, sees the agreement as an opportunity to strengthen Defensor's presence in marine operations and points to the possibilities of a deepened collaboration with Zulu Marine.
– Zulu Marine is a clear example of what can be achieved when real needs meet deep technical understanding and entrepreneurial innovation. The company has quickly built up a product portfolio with operational characteristics that in many respects lack direct equivalents. The investment strengthens Defensor's presence and expertise in the marine domain. Together with Zulu Marine, we see opportunities to develop solutions tailored to operational needs, including through the integration of sensors and other systems, says Max Jägerbring, CEO of Defensor.
Rickard Källqwist, founder of Zulu Marine, states that the investment gives the company the opportunity to scale its operations.
– We have always developed our boats based on the mission's requirements, not on traditional mindsets or limitations. With Defensor, we gain a long-term partner who shares this approach and gives us the opportunity to ramp up, both in production and in continued development. This marks the start of the next phase for Zulu Marine, he says.
The deal is financed by Defensor through a rights issue among existing shareholders and is expected to be completed during the first quarter of 2026. After the transaction, Rickard Källqwist and Zulu Marine's chairman of the board, Svante Liljevall, remain as significant minority owners in the company.