Acquisitions and Investments

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

Freedom Boat Club continues to expand operations

Freedom Boat Club, launched in 1989, is following a record-breaking year in 2012 with an even stronger 2013, the Venice, Fla.-based company said. In October, with the scheduled opening of its newest location in Sarasota, Fla., the club will be operating in 71 locations. It added five in 2012 and has added 13 more this…more

British marine company expands to China

Family-owned British company Wilks Rubber Plastics is expanding into China with its fendering and PVC decking systems for the marine industry. “The marine industry is naturally a global business,” manager Chris Berry said in a statement. “Although we have always exported, over the last five years we have made a concerted effort to expand our…more

Italian builder signs production deal in China

Italian yacht builder Sanlorenzo Spa formed a joint venture with China-based Sundiro Holding that keeps the majority of the company in the hands of Sanlorenzo chairman Massimo Perotti, but enables Sundiro to build and sell certain Sanlorenzo yachts in China. Sundiro, which is listed on the Shenzen Stock Exchange and is active in the production…more

Dometic Marine signs deal with ventilation company

Dometic Marine, a division of the Dometic Group, said it entered a strategic partnership with Livos Technologies, a provider of engine room ventilation equipment and systems for the commercial and pleasure boat markets. Dometic will become a reseller of Livos Technologies’ axial fans, centrifugal blowers, smoke and fire dampers, mist-eliminating grilles and electronic fan controls.…more

Tennessee dealer buys Kentucky showroom

Marine Sales of Pickwick, Tenn., announced an expansion into Kentucky with the acquisition of Kentuckiana Yacht Sales, which includes a 10,000-square-foot dealership showroom. “We are excited to be expanding our sales operations into the Kentucky Lake area,” Marine Sales of Pickwick general manager Ron Martin said on the company’s website. “With this new location we…more

Hacker Boat Co. announces location of new facility

Luxury boatbuilder Hacker Boat Co. will be the Queensbury Business Park’s next tenant and details about the new facility will be rolled out today. Hacker was awarded $600,000 in state regional economic development council grant funding late last year and the company said it was moving its production facility from Ticonderoga to Queensbury, according to…more

Instrument manufacturer announces acquisition

Thomas G. Faria Corp., a designer and manufacturer of analog and digital engine monitoring instruments, said it acquired Beede Instruments. Faria said Beede, established in 1917, is one of the oldest U.S. gauge manufacturers and has built a strong reputation for quality and customer service working with customers such as the Ford Motor Co. and…more

US Watercraft will build C&C Yachts

Warren, R.I.-based US Watercraft LLC acquired the rights to build C&C Yachts. US Watercraft bought the exclusive rights to build, develop, distribute and market all new models of the brand from the Tartan Marine Co. “We are extremely excited to carry on the traditions established by the legendary Canadian boatbuilders who introduced C&C Yachts some…more

Actuant completes Viking SeaTech acquisition

Actuant Corp. completed its acquisition of Scotland-based Viking SeaTech for about $225 million. Viking is an offshore support specialist that provides equipment and services to the offshore oil and gas industry, primarily in the North Sea (U.K. and Norway) and Australia. The majority of Viking’s revenue is derived from offshore vessel mooring solutions, which include…more

Chinese company finalizes Sunseeker purchase

Chinese commercial property and entertainment conglomerate Dalian Wanda Group completed the purchase of Sunseeker International Ltd. for 320 million pounds, or about $496 million. Wanda now holds a 91.81 percent majority stake in the British yacht manufacturer. The remaining 8.19 percent is held by Sunseeker management. “We are excited to embark on the next chapter…more

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