Acquisitions and Investments

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

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

Deal merges catamaran, trimaran builders

Australian catamaran builder Seawind Catamarans purchased Corsair Marine, a builder of trailerable trimarans, the company announced. Terms of the deal were not disclosed. “This is a marriage made in heaven,” Seawind managing director Richard Ward said in a statement. “The two companies have products and manufacturing processes that strongly complement each other. For both Seawind…more

ADP Lightspeed debuts credit-check system

ADP Lightspeed, a provider of dealer management systems, announced integration that allows dealers to run credit checks within the LightspeedEVO Dealer Management System. Credit Check gives dealers the ability to submit customer information to all three credit bureaus without having to re-enter information. With integrated Credit Check, LightspeedEVO allows sales and F&I representatives to pull…more

Investment could net 700 jobs in southwest Florida

The recent approval by the U.S. Bureau of Citizenship and Immigration Services of the Charlotte Harbor Regional Center and its first EB-5 development project – Florida’s Charlotte Harbor Marina – represent a number of firsts for southwest Florida, the center said. These include: The first Regional Center “headquarters” building in the United States. The marina…more

Midwest retailers close their doors

Two power-sports retailers recently closed their doors in northern Wisconsin and Minnesota. Iron River Sports shuttered its headquarters in Iron River, Wis., and its store and maintenance center at Mariner Mall in Superior, Wis., BusinessNorth.com reports. Facing Wisconsin tax liens totaling $134,000 ($450,000 with penalties and interest), the company saw its assets liquidated in mid-September.…more

ADP Lightspeed unveils mobile sales tool

ADP Lightspeed, a provider of dealer management systems, introduced its mobile version of Lightspeed CRM, powered by V-SEPT. The new feature gives sales departments within dealerships the ability to access inventory, customer and sales-log information through mobile devices such as iPadTM, iPhone and AndroidTM phones, the company said. “Salespeople at the dealership can’t be tied…more

Alexseal Yacht Coatings moves to South Carolina

Alexseal Yacht Coatings, the paint system manufactured by German-based Mankiewicz Gebr. and Co., moved its U.S. operations from St. Louis to Charleston, S.C., the company announced. Mankiewicz renovated a 24,000-square-foot building, which includes a state-of-the-art lab, production, technical training and warehouse facility and provides new employment opportunities for the local community. The move provides faster…more

Syntec planning $7.5 million expansion

Syntec Industries plans to expand the company by adding 30 jobs and making a $7.5 million capital investment in its Rome, Ga., headquarters. “This is great news for Syntec, as this expansion allows us to increase our capacity in supporting our existing customers, as well as our new ones,” Syntec board chairman Tom Watters said…more

Unified Marine opening facility in Florida

Unified Marine is opening a facility in Bonita Springs, Fla., which will house a new research and design department and a quality-control testing center. The 2,000-square-foot facility marks the third new facility for Unified Marine since 2006. The company opened a 40,000-square-foot headquarters in Newport, Tenn., in 2006 and a 20,000-square-foot warehouse in the same…more

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