Acquisitions and Investments

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

Wells Fargo set to buy GE lending arm

General Electric is selling its commercial leasing and lending businesses, which carry more boat dealer floorplan financing than any other lender, to Wells Fargo as the conglomerate continues to shed businesses and refocus attention on its industrial core.

Bennington Marine closes deal for Nautic Global Group

Pontoon manufacturer Bennington Marine announced today that it completed the acquisition of the brands and “certain assets” of Nautic Global Group LLC and is assuring dealers and customers that all of the brands will continue to function independently.

Nautic Global Group’s Hurricane line holds as much as half of deckboat market share. This is a Hurricane Sundeck 220 IO.

Decision is nearing on Nautic Global sale

True to Jim Malone’s upfront style, the newly reinstalled Nautic Global Group CEO says he isn’t sure whether the company will be sold as a whole or brand by brand. But, Malone says, he thought it best to put rumors to rest by clarifying the sale situation to the extent possible.

Action Craft Boats secures government loan

Action Craft Boats said it is partnering with the Tampa, Fla.-based Suncoast Credit Union to secure a U.S. Small Business Administration loan in an effort to match production with demand.

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