A Rhode Island maker of high-end sailboat components severely scaled back operations as it searches for a new investor to rescue the financially troubled business and its 52 employees.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
St. Lucie County in Florida said it is seeking a private partner to help develop 20 acres of waterfront land inside the Port of Fort Pierce to be used for megayachts.
Correct Craft, the owner of several boat brands, said today that it acquired Bryant Boats.
R&W Rope acquired Rigging Solutions LLC of Dartmouth, Mass.
Power Products said it acquired Lenco Marine.
OneWater Marine Holdings LLC said it acquired Sunrise Marine of Florida and Alabama.
One of the partners of Iconic Marine Group — the group that purchased the Fountain, Donzi, Baja and Pro-Line boat brands last spring — bought out the shares of saltwater fishing brand Pro-Line.
T-H Marine Supplies and Wave Away LLC said they have an agreement that gives T-H Marine exclusive global rights to manufacture and distribute the Wave Away Sonar and GPS Screen Cleaner product line.
The Tartan management team, led by Rob Fuller and Tim Jackett, said it acquired the exclusive manufacturing, development, marketing and distribution rights for Tartan sailing yachts, Legacy motoryachts and Aspire composites in an agreement with S&S Financial Ventures.
Mag Bay Yachts said it plans to expand its manufacturing facility in Southern California.