Acquisitions and Investments

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

Eastport Boat School has new owner

Perry Marine and Construction purchased the 17 acres and three buildings that make up Maine’s Eastport Boat School for $300,000. The company will use 8 acres to expand its business operations. The rest of the land, including all three buildings, was gifted to the Friends of the Boat School to facilitate the continued running of…more

Florida boatbuilder announces expansion plans

Fort Myers, Fla.-based Nor-Tech Hi-Performance Boats is expanding into the offshore saltwater fishing boat market with a plan that includes new models, new dealers and a key personnel acquisition. Known for many years as a builder of custom high-performance vee-bottoms and catamarans, Nor-Tech recently expanded its lineup to include a growing array of diverse new…more

Maritime Marine Group buys Maine boatbuilder

Maritime Marine Group recently became the new owners of Bristol Harbor Boats, the company announced. Maritime Marine, of Augusta, Maine, is jointly owned by the principals of Kenway Corp. and is “focused exclusively on boatbuilding, marketing and distribution for the company’s marine operations.” Bristol Harbor is the most recent marine-related acquisition for Maritime Marine, which…more

Carolina dealer buys competitor’s inventory

Longtime North Carolina boat dealer Chatlee Boat & Marine recently bought out the inventory of rival Choplin Marine. Chatlee purchased Choplin’s stock of 50 to 60 boats, as well as pickup trucks, tractors, engines, parts and more. “It wasn’t a takeover or anything like that,” Chatlee co-owner Jeff Yow told the Sanford Herald newspaper. “It…more

Nautica International has a new owner

The assets of Nautica International were acquired by USA Rib Tech, which is part of the family of TG Investments companies. Terms of the transaction were not released. “Nautica will be celebrating its 30th year in business, and we are very excited to be a part of it,” TGI CEO Tom Gonzales said in a…more

Sta-Lok Terminals moves to Connecticut

Sta-Lok Terminals relocated its U.S. headquarters from Wilmington, N.C., to Guilford, Conn., and appointed Ocean Supply Chain Logistics to manage the distribution and marketing of its range of stainless-steel rigging hardware products throughout the country. The new warehouse is about 90 miles from New York and 130 miles from Boston. “The move to Guilford will…more

Trend Marine Products expands operations

Superyacht glazing specialist Trend Marine Products, a member of the Taylor Made Group, increased its investment to support superyacht business growth. During the last 18 months, Trend Marine Products has invested $900,000 in state-of-the-art production facilities at its integrated site in the east of England. The investment is a result of its success in winning…more

Northcoast Yachts plans to move boatbuilding plant

Northcoast Yachts, of Tacoma, Wash., is relocating to Port Orchard, Wash. The manufacturing plant will be in a yet-to-be disclosed location within city limits, the Kitsap Sun newspaper reported. “We don’t want to tip our hand just yet, but I will say we are negotiating with several people for potential sites,” president and CEO Steve…more

Maverick Boats adds workers in Florida

Florida’s Treasure Coast boatbuilder Maverick Boat Co. is climbing back from the brink. At its recent dealer meeting, owner Scott Deal said Maverick Boats sold out all of its production slots through January. Maverick, which only builds to order, will produce 600 boats for the 2012 model year, the TCPalm website reported. After adding 25…more

Arc Lite Power buys California shipyard

Arc Lite Power LLC, a San Diego-based marine hybrid systems company, signed an agreement to purchase National City, Calif., shipyard Knight & Carver Maritime, the companies announced. The $30 million investment will expand the capabilities of the combined companies to serve the emerging “green marine” market. Knight & Carver, a provider of marine construction and…more

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