News & Events

JET-TECH® is a single stage compact high performance waterjet which combines mixed-flow properties within an axial design build, with a hybrid stator for high torque diesel outboard engines and others. The Jet-Tech® unit is manufactured as a direct bolt-on replacement to the standard lower unit on OXE diesel outboard models. One jet fits every OXE diesel model manufactured. This approach combines the key benefits of excellent high-speed efficiency with superior cavitation margins at lower speeds and high load conditions. This industry-first launch builds on OXE’s transformation of the high-horsepower, high torque diesel outboard market enabled by their OXE Diesel range.

The purchase price of USD 10.8 million, is to be financed through a share issue in kind to the selling entity Powersports Plus LLC (an Outdoor Network Group company), making them the largest shareholder in OXE. Additionally, Martin Polo, CEO of the Outdoor Network Group, will have a seat on the Board of OXE. The share issue is supported by a majority of shareholders, including the largest owners. The Transaction is subject to approval from the European Investment Bank, the holders of OXE’s corporate bonds and Valley National Bank, the current bank for Diesel Outboards and Outdoor Manufacturing. Closing is expected to take place on 31 January 2022.