Acquisitions and Investments

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

Asmo Marine undergoes name change

Asmo Marine, the Danish company that manufactures Thoosa inboard electric propulsion systems, changed the name of the company to Clean E Marine and formed a new distributing company for the North American market. This company, Clean E Marine Americas, is based in Annapolis, Md., and is setting up regional dealers and distributors throughout North America.…more

Phoenix Boats plans expansion in Tennessee

Phoenix Boats announced plans to purchase a new facility and will be expanding it to increase production. “Sales have continued to outpace our production capabilities,” company president Gary Clouse said in a statement. ”We are purchasing a 75,000-square-foot building on 10 acres in Winchester, Tenn., and will be renovating it to our specifications for a…more

Marine hardware manufacturer announces expansion

Gem Products, a designer and manufacturer of Gemlux stainless-steel marine hardware, is broadening its market base and expanding into the industrial market segment, the company announced. With its expansion, Gem Products serves several well-known companies. American Emergency Vehicles, an ambulance manufacturer, is using stainless-steel eye straps that Gem developed. Safety Kleen, an industrial waste recycling…more

Nyco Products acquires marine brand

Nyco Products announced that it acquired Manufacturers’ Sales Agency and its marine cleaning brand Zing Ahead Products. The sale was completed Feb. 20. Terms of the deal were not released. Nyco has been manufacturing, warehousing and distributing Zing Ahead products under a 12-year contract agreement and will now be taking over marketing and all customer…more

MIAMI: GE Capital’s Van Wagoner sees industry upswing

MIAMI – In a wide-ranging interview with Soundings Trade Only, Bruce Van Wagoner, president of the Marine Group at GE Capital Commercial Distribution Finance, reiterated his belief that the industry is on the upswing and opportunities abound for those willing to seek them out. “We are very positive of the health of the industry,” he…more

USMarineLights.com has new owner

Warrior Girl Corp. acquired USMarineLights.com in an all-stock transaction, the company announced. USMarineLights.com is an online retailer of marine lighting products, including underwater, interior and exterior LED and HID lights for boats and yachts, marine cameras and electronic equipment. “Acquiring US Marine Lights is a great investment, as it’s positioned solidly as a leader in…more

TurboSwing USA incorporates in Florida

TurboSwing USA is now an official U.S. corporation, incorporated in the state of Florida, the company announced. TurboSwing USA is affiliated with Lifeline Inflatable Services Inc., which has been servicing South Florida for more than 20 years in sales of inflatable boats, life rafts and marine safety equipment. TurboSwing USA will import TurboSwing and TowRescue…more

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Priority One president receives business award

Heather Mariscal, president of Priority One Financial Services, was recently honored as one of Business Leader Media’s 2011 Women Extraordinaire Award winners at a luncheon at the Tampa (Fla.) Palms Golf & Country Club. Every year, Business Leader Media honors the top female business leaders of the South. Mariscal, along with 23 other honorees, was…more

Marine floorplan financer seeks to expand

TCF Inventory Finance Inc., a subsidiary of TCF National Bank and an indirect subsidiary of TCF Financial Corp., announced plans to further expand its floorplan finance offerings into the marine industry within the United States and Canada. TCF Inventory Finance’s current reach into the marine industry extends to Alumacraft Boat Co., BRP’s Sea-Doo products and…more

Priority One holds anniversary contest for dealers

Priority One Financial Services Inc. will commemorate its 25th anniversary in business by celebrating and honoring its dealer partners. Through the years, Priority One has grown from one to 50 employees, and it provides finance and insurance managed services for hundreds of recreational dealers nationwide. Priority One will be holding a contest throughout the year,…more

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