Acquisitions and Investments

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

Skeeter extends B.A.S.S. sponsorship deal

Bass-boat builder Skeeter Products signed a multiyear agreement to continue as an Official Premier Boat Sponsor of all B.A.S.S. tournament circuits. The agreement includes all Bassmaster events conducted within the Bassmaster Elite Series, Bass Pro Shops Bassmaster Opens Series, Carhartt Bassmaster College Series and B.A.S.S. Nation regional tournaments. Also included is the Bassmaster Classic, the…more

UK Sailmakers International has new owners

UK Sailmakers International, owner of the UK Sailmakers name, trademarks and proprietary sailmaking software, was purchased by a large group of UK Sailmakers’ loft owners. With individual lofts becoming owners of the brand, the company said the global group of more than 50 lofts will grow stronger and attract more lofts to the group in…more

Sale of Yacht Path International assets is approved

Assets of Yacht Path International and its related entities were purchased by a sole bidder Monday for $250,000 — an amount the company’s co-founder calls “an absolute joke.” Documents filed in a Florida U.S. Bankruptcy Court say the sale of the yacht shipping business and its sister companies was approved for $250,000 Monday because “no…more

Gunboat’s reshoring attracts industry attention

Peter Johnstone’s decision to move Gunboat International’s operations from China to North Carolina in 2012 has not only endeared the brand to buyers, it has also caught the attention of the mainstream press. A recent article in the Virginian-Pilot highlights the boatbuilder’s decision to relocate domestically, driven largely by the financial benefits of building in…more

T-H Marine acquires Loc-R-Bar assets

T-H Marine Supplies said it acquired all of the assets of Loc-R-Bar LLC. Financial terms of the deal were not disclosed. The patented Loc-R-Bar has been the most widely used boat compartment security device for many years,” T-H Marine president and CEO Jeff Huntley said in a statement. “The Loc-R-Bar system offers a full package…more

T-H Marine Supplies buys O2 Marine assets

Alabama-based T-H Marine Supplies acquired the Oxygenator and U2 Pro Formula product line assets of Minnesota-based O2 Marine Technologies. Financial terms of the deal were not disclosed. “We are very pleased to announce the acquisition of the O2 Marine product line assets. We have admired the work of Dennis Clark and O2 Marine team for…more

Private equity firm buys stake in Seamaster Marine Products

CXO Collective International, a private equity and consultancy business, announced its acquisition of a significant stake in Seamaster Marine Products International, a manufacturer and distributor of marine LED lighting products. “The marine industry has recently emerged from a great recession as a growth sector and Seamaster is well poised to take advantage of this,” the…more

Priority One Financial mourns accountant

Priority One Financial Services said today that staff accountant Margaret Friauf died Sunday at her home after a battle with cancer. “Margaret was a member of the Priority One family for nearly eight years and contributed to the growth and success of the company,” Priority One said in a statement. “The dealers, lenders and consumers…more

ADP Lightspeed adds user help feature

In the latest release of LightspeedNXT (version 3.9.7) and LightspeedEVO (version 5.6) hosted users of ADP Lightspeed will have access to Service Connect, an integrated smart-help menu designed to provide answers to users’ questions without the need to leave their workflow. Lightspeed said the simple and time-saving feature knows what screen the user is working…more

Private equity group acquires Navigator Yachts

Navigator Yachts Inc., builder of Navigator Yachts and Californian Yachts, has been sold to a private equity investment group and is now operating under the name Navigator Yachts and Products Inc. Alberto Cogliati, who has worked with the company for a dozen years and is now filling the role of general manager, confirmed to Soundings…more

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