Australian boatbuilder Riviera said it recruited 30 new team members across all aspects of its business to meet the company’s growing global demand.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Ellis Boat Co. in Southwest Harbor, Maine, will expand by adding a new crane and more manufacturing space. The company expects to add eight jobs, according to an Associated Press report. The family-owned boat company was founded in 1945 and is known for its Down East yachts, from basic lobster boats to luxury cruisers, with…more
Deep Impact Boats said it is making significant personnel changes and received backing from an unnamed private investor.
New York-based private equity firm American Securities LLC bought SeaStar Solutions in partnership with the company’s management team from an affiliate of H.I.G. Capital LLC. Terms of the deal weren’t disclosed.
CJR Propulsion said it completed an agreement to purchase all commercial assets and intellectual property from stainless-steel fabricator Oval Stainless.
Grande Yachts International opened a new full-service boating facility at the Riverwalk on the Cape Fear River in Wilmington, N.C., and signed long-term agreements with two builders.
Madera Ribs was bought by the Dutch shipbuilder Veka Group.
Dozier’s Waterway Guide, the series of navigational and local interest publications for cruisers and boaters, was sold to Richmond, Va.-based Jeff and Kathryn Jones.
To meet increased sales demand, Turning Point Propellers opened a second warehouse in Jacksonville, Fla., to complement the company’s main warehouse in Itasca, Ill.
High-performance builder Malibu Boats has entered a bid to go public, a move some analysts say is perfectly timed with a Wall Street trading trend toward the leisure space.