B. Riley & Co. will add West Marine and Marine Products Corp. to the list of marine businesses the company’s analysts will cover in an effort to shed light on the “under-followed” boating industry’s nuances.
Marine Products Corp., parent company of Chaparral and Robalo, is a well-run company that has been “one of the few stars of this sterndrive market that’s been under so much pressure.”
West Marine’s three-pronged growth strategy has led B. Riley & Co. to introduce the company at a “buy” rating as the investment banking and analyst firm issued its first assessment of the retail chain.
The so-called graying of the industry has been a hot topic lately. Discussions have ranged from how to attract younger people to boating to ways to integrate youthful ideas with the wisdom that only decades of experience can impart.
Laurent Fabre became president of Beneteau America a little more than a year ago. The 46-year-old native of France’s Brittany region grew up near the water and learned to sail before he began riding a bike. It had been his lifelong dream to work in the boating industry in the United States. Given his success…more
The marina industry is undergoing a transformation, brought on by the economic downturn, increasing weather challenges and a greater emphasis on environmentally sound practices.
Cam Collins and Kevin Hutchinson say they’re not reinventing the wheel. They say My-Villages Inc.’s acquisition of Exuma Technologies and its DockMaster software will simply bring the same level of connectivity experienced in other industries to the marine environment.
Pontoon sales climbed once again this summer, posting a 23 percent year-over-year gain in August alone. The category has been one of only a few that have consistently rebounded since the economic downturn.
The Marine Industry Certified Dealership program is evolving. The initiative, which the National Marine Manufacturers Association had run until it was recently taken over by the Marine Retailers Association of the Americas, is going to be offered in tiers now instead of a one-size-fits-all format.
Boat loans are a bit easier, but housing issues (foreclosures, short sales, lack of equity) still dog industry With the 2008 fall from the proverbial economic cliff a full five years behind us, boat dealers and manufacturers might be hopeful that by next season more people will return to buying new boats because some short…more