marine industry professionals
Crownline finds a buyer
Crownline Boats has been purchased and will resume production in the near future, the company announced today.
Tony Zielinski, owner of Leisure Properties, and Dave Wilson, owner of Misty Harbor and Ultracraft, have joined together to purchase Crownline Boats.
Details of the deal were not released.
Zielinski has extensive experience working for Ford Motor Company within their dealer development department and also owns a marine retail establishment in Wisconsin. Wilson started Misty Harbor in 1990 and has managed and grown the business to be a leading pontoon manufacturer.
The company also announced that the original leadership team will be rejoining the company. Kevin Riem will be vice president and general manager, Guy Coons will be CFO, Tami Murphy will be director of manufacturing operations and Nathan Heisner will be manager of inside sales.
"Crownline is very excited about our team's future and all the possibilities this exciting new opportunity brings with it," the company said in a statement. "We look forward to the opportunity to reconnect with all of our valued Crownline dealer partners and our employees as we move forward into the future."
In June, Nautic Global Group, the manufacturer of Rinker Boats and Godfrey Marine brands, announced it had entered into a non-binding letter of intent to acquire the assets of Crownline Boats.
An auction that had been scheduled for earlier this month in Chicago for the assets of Crownline Boats was "postponed indefinitely" at the last minute, without any further explanation.
The auction was to include all of Crownline's machinery, equipment, tooling, fixtures, molds, furniture, intellectual property, computer equipment, operating systems, accounts receivable, raw and finished goods inventory and customer information.
Crownline shut down production late last year and was not able to resume production at its West Frankfort, Ill. facility in June, as it had previously announced.
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I have been to the Southampton Boat show this September and seen for the first time the selection of Crownline boats. The products shown were of a very high standard and having discovered that the company as was had become bankrupt, I was very concerned about placing an order for one.
I am quite certain that the investment and commitment by Bluewater Horizons Boats and the research I have conducted into the new team at Crownline will be able to deliver.
I have therefore placed my order for a new 19SS BR and I secured a really great deal with the UK importer. I understand that they also managed to sell a further 12 boats during the show.
This is due for delivery in December, I am told, and looks to be a quality product, so lets see if they can live up to the expectation that is bubbling behind this new venture?
Who else has decided to follow suit?
Met the new boss, sames as the old boss..... We won't get fooled agian???
Yes folks another boat company dumping liabilty (warranty & payables) - more to come but these new versions are ..well... new.... so give them a chance
Vendors: sell to them on open terms.....
Dealers: buy the product with confidence...
Not to pick on this one but go back to the 80's when this brand spun out of Celebrity & count the number of owners variations.
Someone should start a list of all the "New" owners groups/companies that have "Rescued boat brands in the last year"
Without dealers with money to buy inventory what does it matter?
These boat companies went out because they had no orders. With new owners group do you also get orders?? I don't think so...especially if you leave the wolves in the hen house...
Can Anyone other than Tom see a bright side to the purchase?
The vendors have kept a possible customer for future sales.
The Brand continues.
I know Kevin and he knows the value of the Past Customers. I am sure the new company will want repete customers.
Why not wait to see how things go. There were people that wanted to count out the Brand last December.
It was an asset purchase the new owners did not buy the liabilities.
Great news!
How about all the parts we have made and ready to ship? Is the new team going to make good on previous commitments?
We all hope so!
AMD