Acquisitions and Investments

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

Priority One advises dealers on subprime lending

Boat dealers aren’t losing subprime deals because they can’t get the loans bought. They’re losing them because they don’t explain the terms well enough to the customer — who often doesn’t understand why terms are worse for him now than they were just two or three years ago, even after the recession had hit. That’s…more

Marine Electronic SA will spin off satellite business

Switzerland-based Marine Electronic SA announced that it will split into two entities, creating a new arm designated to land-based satellite endeavors. The two companies will be called Satellite Communication SA and Marine Electronic SARL. Marine Electronic SA, founded in 1980 and acquired by John R. Svalander 10 years ago, has expanded particularly rapidly in all…more

DinghyPro plans move to new Connecticut location

DinghyPro, which specializes in the repair and servicing of inflatable boats and rigid-hull inflatables, said it is moving from Deep River, Conn., to nearby Essex. “The move to Essex is only about 4 miles from our Deep River site and is easy to get to from any direction,” owner Jeff Going said in a statement.…more

Mid-Atlantic dealerships announce merger

Bluewater Yacht Sales and Jarrett Bay Yacht Sales announced the merger Monday of their sales operations. The owners said that after several years of friendly competition and shared observations of synergies between the two companies, they decided to consolidate under the Bluewater name. The company said its nine-location family of operations in Maryland, Virginia, North…more

Whale Water Systems buys California company

Vermont-based Whale Water Systems said it completed a deal to take over the production, distribution and servicing of the complete line of Seaward Products, including the Princess brand. The agreement was completed just before the International BoatBuilders’ Exhibition and Conference opened in Louisville, Ky. The new brand — Seaward by Whale — will officially launch…more

Priority One adds marine industry to credit program

Priority One Financial Services, a division of Forest River Inc., expanded its credit card program for RV and cargo trailer dealers to the marine industry. The Forest River Credit Card can be used on boat engines, parts, accessories, service repair bills and winterization, according to a story in RV Business. Consumers can now enroll for…more

Glendinning Marine Products has new owner

Orscheln Products LLC acquired a majority interest in Glendinning Marine Products. Bob Orscheln, CEO of Moberly, Mo.-based Orscheln Products, said in a statement that John Glendinning will continue to serve as president of Glendinning Marine Products. Glendinning, which is based in Conway, S.C., was founded in 1972 by Hylands Glendinning. During the last 27 years,…more

Action Craft Boats has new owner

Action Craft Boats, including the Coastline and Coastal Bay brands, was sold by Flatsmaster Marine to CK Prime Investments, which announced that production resumed earlier this summer. CK Prime Investments president Chad Kovarik plans to keep the brand names in place. “I am excited to have an opportunity to be the new owner and restart…more

Ebbtide Boats sold to Chinese company

The company 321 Capital Partners LLC announced that it completed the sale of fiberglass sportboat builder Ebbtide Corp. to a privately held Chinese investment company. Ebbtide, based in White Bluff, Tenn., builds fiberglass sportboats and recreational boats at a 150,000-square-foot facility. “Selling your company that you have been operating for 44 years is bittersweet,” Ebbtide…more

Northwest builder adds workers with new contract

A Washington state boatbuilder announced its second large contract in two months to build boats for the U.S. military. Safe Boats International, a 15-year-old company based in Bremerton, will increase its work force by 13 percent to meet the new demand, according to the Kitsap Sun. Under the newest contract with the Coast Guard, Safe…more

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