Acquisitions and Investments

Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.

Marine seat builders announce joint venture

Springfield Marine Inc. and Modell Møbler A/S have joined forces to share in product development, quality control, sales and distribution, the companies announced. Norway’s Modell Møbler is a leading marine seat and furniture manufacturer for commercial ferry and passenger ships worldwide. Springfield Marine, based in Nixa, Mo., is a leader in seating and seating hardware…more

Cruising guides have new ownership

P&S Marine LLC recently purchased Charlie’s Charts, a series of six cruising guides covering the western coast of North America. Capt. Holly Scott and Jo Russell, principals of Seal Beach, Calif.-based P&S Marine, are well-known and active in the California marine industry. Scott, the owner of Mahalo Sailing Instruction and Charters, is also a Coast…more

Google co-founder buys $45 million yacht

Google co-founder Larry Page recently plunked down $45 million for his first yacht. The 193-foot superyacht, Senses, features a small helicopter pad, a gym, split-level sun decks, sheltered and exposed dining areas, 10 luxury suites, a crew of 14 and interiors by French designer Philippe Starck. Page, who will turn 38 in March, is worth…more

Florida dealerships announce merger

Marine Connection, a dealership in West Palm Beach, Fla., was sold to Danny Goldenberg and John Kutuk, owners of Fort Lauderdale-based Super Boats & Yachts. The new ownership team plans to consolidate all of its operations under the Marine Connection brand. Marine Connection founder and president Mark Lassila and general manager Timo Turkki will remain…more

Couple sells its family sailboat business

Tom and Jane Schock have sold W.D. Schock Corp. to Alexander Vucelic von Raduboj, who will take over as president and be responsible for day-to-day operations. Terms of the deal were not disclosed. Tom Schock will remain on W.D. Schock’s board and continue to connect with sailors in the new role of brand ambassador. Jane…more

Companies form docking systems venture

Technomarine of Canada and Marinetek Group of Finland have joined forces to offer a complete range of docking systems to the international market. Two new sales companies, one in Finland and one in the United States, are being formed to supply all aluminum and concrete dock brands currently available from both manufacturers, the companies said…more

Coil manufacturer seeks to expand in Indiana

Andover Coils, a manufacturer of ignition coils and transformers, announced plans to expand its Lafayette, Ind.-based operations, creating as many as 52 new jobs by 2013. The company, which makes ignition coils for use in the marine, automotive, aviation, industrial and health care industries, plans to invest $1.3 million to upgrade equipment and computer hardware…more

Rotonics sells California plant

Rotonics Manufacturing Inc. completed the sale of its plant in Gardena, Calif., the company announced. The company consolidated plant operations from nine locations into three in Colorado, Minnesota and Illinois. “Subsequent to our close announcement, we entered into discussions with Rotational Molding Inc., a California corporation headed by Sherman McKinnis,” CEO Richard Leary said. “Those…more

Quality Power and Sail buys water-sports retailer

Quality Power and Sail, a boat export, brokerage and service company in Broward County, Florida, recently acquired Nautical Ventures South, a 26-year-old water-sports retailer and outfitting company. Terms of the deal were not disclosed. Nautical Ventures specializes in a range of water sports equipment and is ranked as a top 10 dealer for Hobie Cat…more

Survitec Group buys Revere Supply Company division

Northern Ireland-based Survitec Group Ltd., a leader in safety and survival equipment, acquired Revere Commercial Marine Business from Revere Supply Company to expand its presence in the United States. Terms of the transaction were not disclosed. Jacksonville, Fla.-based Revere Supply’s products range from inflatable life rafts to life jackets and immersion suits. “Bringing Revere’s commercial…more

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