Acquisitions and Investments

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

Couple sells its family sailboat business

Tom and Jane Schock have sold W.D. Schock Corp. to Alexander Vucelic von Raduboj, who will take over as president and be responsible for day-to-day operations. Terms of the deal were not disclosed. Tom Schock will remain on W.D. Schock’s board and continue to connect with sailors in the new role of brand ambassador. Jane…more

Companies form docking systems venture

Technomarine of Canada and Marinetek Group of Finland have joined forces to offer a complete range of docking systems to the international market. Two new sales companies, one in Finland and one in the United States, are being formed to supply all aluminum and concrete dock brands currently available from both manufacturers, the companies said…more

Coil manufacturer seeks to expand in Indiana

Andover Coils, a manufacturer of ignition coils and transformers, announced plans to expand its Lafayette, Ind.-based operations, creating as many as 52 new jobs by 2013. The company, which makes ignition coils for use in the marine, automotive, aviation, industrial and health care industries, plans to invest $1.3 million to upgrade equipment and computer hardware…more

Rotonics sells California plant

Rotonics Manufacturing Inc. completed the sale of its plant in Gardena, Calif., the company announced. The company consolidated plant operations from nine locations into three in Colorado, Minnesota and Illinois. “Subsequent to our close announcement, we entered into discussions with Rotational Molding Inc., a California corporation headed by Sherman McKinnis,” CEO Richard Leary said. “Those…more

Quality Power and Sail buys water-sports retailer

Quality Power and Sail, a boat export, brokerage and service company in Broward County, Florida, recently acquired Nautical Ventures South, a 26-year-old water-sports retailer and outfitting company. Terms of the deal were not disclosed. Nautical Ventures specializes in a range of water sports equipment and is ranked as a top 10 dealer for Hobie Cat…more

Survitec Group buys Revere Supply Company division

Northern Ireland-based Survitec Group Ltd., a leader in safety and survival equipment, acquired Revere Commercial Marine Business from Revere Supply Company to expand its presence in the United States. Terms of the transaction were not disclosed. Jacksonville, Fla.-based Revere Supply’s products range from inflatable life rafts to life jackets and immersion suits. “Bringing Revere’s commercial…more

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

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