Acquisitions and Investments

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

Deal merges catamaran, trimaran builders

Australian catamaran builder Seawind Catamarans purchased Corsair Marine, a builder of trailerable trimarans, the company announced. Terms of the deal were not disclosed. “This is a marriage made in heaven,” Seawind managing director Richard Ward said in a statement. “The two companies have products and manufacturing processes that strongly complement each other. For both Seawind…more

ADP Lightspeed debuts credit-check system

ADP Lightspeed, a provider of dealer management systems, announced integration that allows dealers to run credit checks within the LightspeedEVO Dealer Management System. Credit Check gives dealers the ability to submit customer information to all three credit bureaus without having to re-enter information. With integrated Credit Check, LightspeedEVO allows sales and F&I representatives to pull…more

Investment could net 700 jobs in southwest Florida

The recent approval by the U.S. Bureau of Citizenship and Immigration Services of the Charlotte Harbor Regional Center and its first EB-5 development project – Florida’s Charlotte Harbor Marina – represent a number of firsts for southwest Florida, the center said. These include: The first Regional Center “headquarters” building in the United States. The marina…more

Midwest retailers close their doors

Two power-sports retailers recently closed their doors in northern Wisconsin and Minnesota. Iron River Sports shuttered its headquarters in Iron River, Wis., and its store and maintenance center at Mariner Mall in Superior, Wis., BusinessNorth.com reports. Facing Wisconsin tax liens totaling $134,000 ($450,000 with penalties and interest), the company saw its assets liquidated in mid-September.…more

ADP Lightspeed unveils mobile sales tool

ADP Lightspeed, a provider of dealer management systems, introduced its mobile version of Lightspeed CRM, powered by V-SEPT. The new feature gives sales departments within dealerships the ability to access inventory, customer and sales-log information through mobile devices such as iPadTM, iPhone and AndroidTM phones, the company said. “Salespeople at the dealership can’t be tied…more

Alexseal Yacht Coatings moves to South Carolina

Alexseal Yacht Coatings, the paint system manufactured by German-based Mankiewicz Gebr. and Co., moved its U.S. operations from St. Louis to Charleston, S.C., the company announced. Mankiewicz renovated a 24,000-square-foot building, which includes a state-of-the-art lab, production, technical training and warehouse facility and provides new employment opportunities for the local community. The move provides faster…more

Syntec planning $7.5 million expansion

Syntec Industries plans to expand the company by adding 30 jobs and making a $7.5 million capital investment in its Rome, Ga., headquarters. “This is great news for Syntec, as this expansion allows us to increase our capacity in supporting our existing customers, as well as our new ones,” Syntec board chairman Tom Watters said…more

Unified Marine opening facility in Florida

Unified Marine is opening a facility in Bonita Springs, Fla., which will house a new research and design department and a quality-control testing center. The 2,000-square-foot facility marks the third new facility for Unified Marine since 2006. The company opened a 40,000-square-foot headquarters in Newport, Tenn., in 2006 and a 20,000-square-foot warehouse in the same…more

Georgia firm acquires marine service software programs

Alliance Management & Consulting Group of Canton, Ga., recently became the new owner of two industry service programs, the company announced. MShop Software (now Marine Shop) is a marine service department software program that was developed in 1992 and specializes in small service-only repair shops. WatchCaptain Professional (now Management Pro) software specializes in small- to…more

WeatherHawk acquires Speedtech products

WeatherHawk, a division of Campbell Scientific, acquired Speedtech Instruments’ range of wind/weather meters, including the SkyMate, SkyMaster and WindMate product line, the Utah-based company announced. Terms of the deal were not disclosed. The other Speedtech products – portable depth sounders, flow meters and the Edge hunting and fishing hand-held computers – will continue to be…more

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