The pace of new single-family home sales plummeted 14.5 percent in March to a seasonally adjusted annual rate of 384,000, which is the slowest pace since July 2013 and disappointing for those who were hoping for some payback after a winter slowdown.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
The National Boat Owners Association acquired the Southern Kingfish Association and Tournament Trail.
Donovan Marine said it acquired V&V Marine, Southern Marine and Houston Marine and opened distribution centers in Paducah, Ky., and Chicago.
Redden Marine Supply is opening its fifth retail location, a combined sales and distribution warehouse site on the Lake Washington Ship Canal in Seattle.
To further advance its growth in the boating market, Thetford Corp. established a dedicated global marine division.
Peer-to-peer boating marketplace Boatbound announced that it received $2.5 million in a new financing round led by Brunswick Corp.
OceanLED said its U.K.-based manufacturing facility will be back to full capacity production today, 10 days after the company announced a restructuring and it introduced several new members of its management team.
Roughly seven months after opening its first North American sales office in Fort Lauderdale, U.K.-based Iris Corp. moved its operations to a new, larger facility in the same business complex to meet growing demand.
AdvanTec Global Innovations said Tuesday that it will consolidate its Pacific Coast Marine manufacturing operations into other AdvanTec manufacturing facilities in the United States and Canada, effective July 31.
The newly formed Acadia Yacht Sales, a partnership between owners William Seale and Christopher DiMillo, said it acquired Oxford Boatyard Yacht Sales & Sabreline of Annapolis, the northern Chesapeake’s exclusive Sabre Yachts & Back Cove Yachts dealer and yacht brokerage firm.