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Evinrude Outboard Motors was a North American company that built a major brand of two-stroke outboard motors for boats. Founded by Ole Evinrude in Milwaukee, Wisconsin in 1907, it was formerly owned by the publicly traded Outboard Marine Corporation (OMC) since 1935 but OMC filed for bankruptcy in 2000.
By 1921, Evinrude was back in business, in a venture he called the ELTO Outboard Motor Company. His new offering was the Evinrude Light Twin Outboard, a motor partly made of aluminum, reducing its weight by a third. Popular with the fishing fleets, this revolutionary engine outstripped sales of Evinrude's original outboard motor within three years.
By the mid-1920s, they surpassed Evinrude in sales, and dominated the outboard racing scene. In 1928, the brothers bought the Birmingham Automotive Company site in Peterborough, Ontario and established the Canadian Johnson Motor Company Ltd. [ 2 ] By 1931 they produced cedar strip hulls at their Canadian facility. [ 3 ]
In 2001 Bombardier purchased the Evinrude Outboard Motors and Johnson Outboards trade names for the insolvent Outboard Marine Corporation. [19] In 2003, the company sold Bombardier Recreational Products to a group of investors: Bain Capital (50%), Bombardier Family (35%) and Caisse de dépôt et placement du Québec (15%) for $875 million. [20]
Ole Evinrude, born Ole Andreassen Aaslundeie (April 19, 1877 – July 12, 1934) was an American entrepreneur, known for the invention of the first outboard motor with practical commercial application.
The list seen by Fortune reveals the Pershing Square Foundation owns a stake in X. If the name sounds familiar, that's because of its link to Pershing Square Holdings, founded by billionaire ...
Stephen Briggs went on to purchase Evinrude and Johnson Outboards and start the Outboard Marine Corporation. Frederick P. Stratton Sr. (the son of Harold Stratton) served as Chairman of Briggs & Stratton until his death in 1962 (Harold also died that year). Frederick P. Stratton Jr. served as Chairman until his retirement in 2001.
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