Acquisitions and Investments

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

T-H Marine acquires Loc-R-Bar assets

T-H Marine Supplies said it acquired all of the assets of Loc-R-Bar LLC. Financial terms of the deal were not disclosed. The patented Loc-R-Bar has been the most widely used boat compartment security device for many years,” T-H Marine president and CEO Jeff Huntley said in a statement. “The Loc-R-Bar system offers a full package…more

T-H Marine Supplies buys O2 Marine assets

Alabama-based T-H Marine Supplies acquired the Oxygenator and U2 Pro Formula product line assets of Minnesota-based O2 Marine Technologies. Financial terms of the deal were not disclosed. “We are very pleased to announce the acquisition of the O2 Marine product line assets. We have admired the work of Dennis Clark and O2 Marine team for…more

Private equity firm buys stake in Seamaster Marine Products

CXO Collective International, a private equity and consultancy business, announced its acquisition of a significant stake in Seamaster Marine Products International, a manufacturer and distributor of marine LED lighting products. “The marine industry has recently emerged from a great recession as a growth sector and Seamaster is well poised to take advantage of this,” the…more

Priority One Financial mourns accountant

Priority One Financial Services said today that staff accountant Margaret Friauf died Sunday at her home after a battle with cancer. “Margaret was a member of the Priority One family for nearly eight years and contributed to the growth and success of the company,” Priority One said in a statement. “The dealers, lenders and consumers…more

ADP Lightspeed adds user help feature

In the latest release of LightspeedNXT (version 3.9.7) and LightspeedEVO (version 5.6) hosted users of ADP Lightspeed will have access to Service Connect, an integrated smart-help menu designed to provide answers to users’ questions without the need to leave their workflow. Lightspeed said the simple and time-saving feature knows what screen the user is working…more

Private equity group acquires Navigator Yachts

Navigator Yachts Inc., builder of Navigator Yachts and Californian Yachts, has been sold to a private equity investment group and is now operating under the name Navigator Yachts and Products Inc. Alberto Cogliati, who has worked with the company for a dozen years and is now filling the role of general manager, confirmed to Soundings…more

Stock market looks to stay above 14,000 mark

Stock futures are in retreat on the first day of trading after the Dow Jones industrial average struck a new post-recession high. Dow Jones Industrial Average futures are down 44 points to 13,886 after closing above 14,000 Friday, the Associated Press reported. As of this morning, the broader S&P futures have lost 5 points to…more

Priority One employees volunteer in Florida

For the last four years, employees at Priority One Financial Services, the recreational industry’s oldest and largest finance and insurance outsourcing provider, have volunteered their time in November to organizations in Tampa Bay, Fla. On Nov. 2, a group of Priority One employees volunteered at Homeless Emergency Protection. The group prepared and served a lunch…more

Wider Yachts attracts Asian investor

Malaysian billionaire Sri Lim Kok Thay, whose luxury empire spans casinos and cruise liners, is set to buy half of Wider Yachts to expand into Asia, the founder of the Italian company said Tuesday. Wider is the second Italian yacht maker to attract Asian investors. Chinese state-owned Shandong Heavy Industry took control of the Ferretti…more

US Watercraft acquires three boat brands

US Watercraft LLC said today that it acquired the Alerion Yachts, True North and North Rip brands from Pearson Marine Group. Based in Portsmouth, R.I., US Watercraft is the licensed builder of the J/22, J/24, J/80 and J/105 lines of J/Boats and the Farr 30 and Farr 40. US Watercraft said it will service and…more

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