Boat membership program SailTime said it is on the 2016 Inc. Magazine 500-5000 list of the top fastest-growing private companies in the United States.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
The Navy and Willard Marine signed a licensing agreement for a Willard Marine boat design to serve as the guideline for the Navy’s new 11-meter (36-foot) rigid hull inflatable boat government design.
Wells Fargo completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business.
Dominion Marine Media is being acquired by funds advised by a British private equity advisory firm.
Custom wooden-boat builder and designer Rockport Marine said it acquired the David Jones Yacht Brokerage.
Atlanta-based OneWater Marine Holdings said it added Lookout Marine of Somerset, Ky., and Sea Ray of Lake Cumberland of Bronston, Ky., to its dealership network.
After less than two years in business, H2O Sports Manufacturing is expanding its operation and hiring more workers to meet demand for its Clearwater and Cape Craft brands.
Action Craft Boats is reflecting on four years under new ownership, a period in which the Florida-based company said it added a second manufacturing facility and 12 models to the lineup and seen double-digit growth in each year.
Digital Marine Solutions said it completed the acquisition of the assets of the marine division of Jeppesen, a Boeing company.
SkipperBud’s purchased a 10,000-square-foot service center in Pewaukee, Wis., that features six service bays, a parts department, a customer waiting lounge and parking for customer walk‐ins and boat drop‐offs.