Nearly 80 percent of marine industry participants expect sales to increase between 5 and 10 percent this year, according to survey results that GE Capital’s Commercial Distribution Finance division released Wednesday.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Zurn Yacht Design is announcing a remodeled 1,200-square-foot Massachusetts facility and two additions that double the firm’s design team.
MIAMI — Although the deal was announced on the eve of the Miami boat shows, Active Interest Media hosted a formal news conference last Friday at the Yacht & Brokerage Show in Miami Beach on its acquisition of the Bahamas Billfish Championship.
Active Interest Media bought the Bahamas Billfish Championship as the newest piece of its AIM Marine Group portfolio. The acquisition also includes the Dania Marine Flea Market.
The parent company of the Baglietto shipyard said it signed a letter of intent to buy Bertram Yachts from the Ferretti Group.
Florida Gov. Rick Scott said Tuesday that Merritt Island Boat Works will open a new manufacturing facility, creating at least 380 new jobs and a capital investment of more than $16 million in Brevard County.
Lazzara Yachts was purchased by the Avanti Ocean Group, which consists of private investor Geoff Bond and third-generation family members Joe Lazzara and Steve Lazzara.
Ranger Boats will continue to grow after the Bass Pro Group acquires the company, but there are no plans to expand the plant or relocate operations.
A deal for the Bass Pro Group to buy Fishing Holdings LLC, which builds Ranger Boats and the Stratos and Triton brands, is expected to close in the first quarter of 2015.
Willard Marine acquired the rights to design and manufacture Crystaliner boats, a line of surf and rescue vessels that have been prevalent on the West Coast for nearly six decades.