Acquisitions and Investments

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

Albemarle Boats owner buys Carolina Classic

Scott McLaughlin, a North Carolina businessman and the owner of Albemarle Boats, acquired Carolina Classic Boats. Albemarle and Carolina Classic, both located in Edenton, N.C., will unite to build sportfishing boats ranging in size from 24 to 41 feet. Terms of the deal were not released. “Over the past two-and-a-half years Albemarle and Carolina Classic…more

Canadian boatbuilder seeks a buyer

Canadian boatbuilder Grew Manufacturing is in the care of a receiver and looking for a buyer. The company has liabilities of more than $2 million and about 100 creditors, receiver BDO Canada Ltd.’s Bill Courage recently told the Owen Sound Sun Times newspaper. The company’s manufacturing plant south of Owen Sound in Ontario has been…more

Georgia boatbuilder being sold at auction

An auction is under way for the assets of Marine Manufacturing Corp. in Douglas, Ga. The auction, at www.kcr-auctions.com, includes four fiberglass boat lines: Clearwater Sportfishing Boats, Key Largo Sportfishing Boats, Cape Craft Sportfishing Boats and Clearwater-Caribbean Skiffs, with molds, production tooling, brand names, website domain names, dealers’ lists and related intangibles. Also being sold…more

Goetz Custom Boats property sold in R.I.

Bristol Marine Holdings LLC recently purchased the 45,600-square-foot building that Goetz Custom Boats formerly occupied in Bristol, R.I. The state-of-the-art facility will accommodate new and growing businesses in the marine trades industries. The addition of this location to Bristol Marine Holdings’ inventory of available space is important to the continuation of its successful track record…more

California boatbuilder weighs move to Florida

A California-based boatbuilder is considering setting up a $1.8 million boat and trailer manufacturing operation in Martin County, Fla., with 41 jobs and an annual payroll of $1.4 million. The company plans to spend $1 million for a 20,000-square-foot building in Martin County and another $100,000 on renovations, county records show. The company expects to…more

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Maine boatbuilder up for sale

Southport Island Marine, an 11-year-old Maine boatbuilder and service yard, is for sale. Owner Douglas Goldhirsch, a sail training instructor, boat designer and boatbuilder, plans to step away from the business to spend more time with his family. He says he is optimistic that a buyer can be found who will share his passion for…more

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Strut Marine acquires engine builder

Strut Marine, a full-service facility for high-performance offshore boats in Southern California, announced the acquisition of Paul Pfaff Enterprises. Pfaff, of Huntington Beach, Calif., is recognized as one of the country’s premier builders of engines for offshore performance boats and off-road performance vehicles. The purchase, which was completed on March 31, includes Pfaff’s entire facility…more

Protective cover maker acquires new line

Budge Industries, a leading provider of protective covers and protective-asset solutions, announced the acquisition of a line of protective films from World Class Concepts. The new products, Road Wrap, Rug Wrap and Snow Wrap, are primarily designed to guard the interior carpet and exterior finishes of automobiles, boats, motorcycles, RVs and other vehicles from road…more

IPS Structural Adhesives revamps its operations

IPS Structural Adhesives is leveraging its merger with Holdtite Adhesives Ltd. to create a new brand, expand production capacity and introduce new technologies to a broader array of markets, the company said. The expansion, including a move to a new facility in the U.K., includes new investment in people, technology, equipment and processes. The investments…more

Tartan Marine signs deal with designer

Tipton Design and Engineering announced a partnership with Tartan Marine, a builder of handcrafted boats. Tipton started doing design work with Tartan on its new T4000. “We set up a desk at their Painesville facility and started designing components with them with the idea that we would manufacture the parts, as well,” Tipton president Roger…more

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