The Finnish-built, all-weather sport utility boats sold under the Minor Offshore brand will now carry the name Sargo.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Outdoor gear chain Cabela’s announced plans to open stores in three new markets — Huntsville, Ala.; Oklahoma City, Okla.; and Woodbury, N.Y.
The maker of Chaparral and Robalo boats has been looking to buy a complementary business, specifically eying pontoon builders, although the company has been outbid by private equity groups so far.
Ultrasonic transducer and sensor manufacturer Airmar Technology Corp. more than doubled its footprint at its Milford, N.H., headquarters with the opening of a 73,000-square-foot manufacturing plant.
KVH Industries received a new order for its tactical navigation systems valued at $5.2 million from the military.
Garmin Ltd. said it is buying New Zealand-based Fusion Electronics Ltd. and its subsidiaries.
McMurdo Group said it acquired Techno-Sciences, a provider of SAR satellite ground stations, integrated emergency response center systems and coastal surveillance solutions.
Dominion Marine Media said Wednesday that it forged an exclusive partnership with peer-to-peer boat rental marketplace Boatbound, further solidifying what Dominion said is the integral role the sharing economy will play in the future growth of the marine industry.
OBX Boatworks has big goals for the original Hatteras Yachts plant in High Point, N.C., where the company began producing boats in 2012.
SEI Marine Products acquired the assets of API Marine in Fort Lauderdale.