Acquisitions and Investments

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

US Watercraft acquires three boat brands

US Watercraft LLC said today that it acquired the Alerion Yachts, True North and North Rip brands from Pearson Marine Group. Based in Portsmouth, R.I., US Watercraft is the licensed builder of the J/22, J/24, J/80 and J/105 lines of J/Boats and the Farr 30 and Farr 40. US Watercraft said it will service and…more

Financing secured for marine industrial park in China

The Agricultural Development Bank of China is providing a credit line of 7 billion yuan, or $1.12 billion, to support the construction of a marine industrial park. A management committee preparatory group from the Fujian-Taiwan (Fuzhou) Blue Economic Industrial Park and the Fujian provincial branch of the Agricultural Development Bank of China signed a cooperation…more

Greek marine OEM announces acquisitions

Greece-based marine and safety equipment manufacturer Lalizas acquired Nuova Rade, Lofrans’, Max Power and Ocean. The company announced the acquisitions in a statement that also thanked customers for understanding a product shortage. “Time is definitely not an ally and we will definitely be working in getting the production back on track as soon as possible…more

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

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