Acquisitions and Investments

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

Carolina dealer buys competitor’s inventory

Longtime North Carolina boat dealer Chatlee Boat & Marine recently bought out the inventory of rival Choplin Marine. Chatlee purchased Choplin’s stock of 50 to 60 boats, as well as pickup trucks, tractors, engines, parts and more. “It wasn’t a takeover or anything like that,” Chatlee co-owner Jeff Yow told the Sanford Herald newspaper. “It…more

Nautica International has a new owner

The assets of Nautica International were acquired by USA Rib Tech, which is part of the family of TG Investments companies. Terms of the transaction were not released. “Nautica will be celebrating its 30th year in business, and we are very excited to be a part of it,” TGI CEO Tom Gonzales said in a…more

Sta-Lok Terminals moves to Connecticut

Sta-Lok Terminals relocated its U.S. headquarters from Wilmington, N.C., to Guilford, Conn., and appointed Ocean Supply Chain Logistics to manage the distribution and marketing of its range of stainless-steel rigging hardware products throughout the country. The new warehouse is about 90 miles from New York and 130 miles from Boston. “The move to Guilford will…more

Trend Marine Products expands operations

Superyacht glazing specialist Trend Marine Products, a member of the Taylor Made Group, increased its investment to support superyacht business growth. During the last 18 months, Trend Marine Products has invested $900,000 in state-of-the-art production facilities at its integrated site in the east of England. The investment is a result of its success in winning…more

Northcoast Yachts plans to move boatbuilding plant

Northcoast Yachts, of Tacoma, Wash., is relocating to Port Orchard, Wash. The manufacturing plant will be in a yet-to-be disclosed location within city limits, the Kitsap Sun newspaper reported. “We don’t want to tip our hand just yet, but I will say we are negotiating with several people for potential sites,” president and CEO Steve…more

Maverick Boats adds workers in Florida

Florida’s Treasure Coast boatbuilder Maverick Boat Co. is climbing back from the brink. At its recent dealer meeting, owner Scott Deal said Maverick Boats sold out all of its production slots through January. Maverick, which only builds to order, will produce 600 boats for the 2012 model year, the TCPalm website reported. After adding 25…more

Arc Lite Power buys California shipyard

Arc Lite Power LLC, a San Diego-based marine hybrid systems company, signed an agreement to purchase National City, Calif., shipyard Knight & Carver Maritime, the companies announced. The $30 million investment will expand the capabilities of the combined companies to serve the emerging “green marine” market. Knight & Carver, a provider of marine construction and…more

North Carolina marina assets to be sold at auction

Thirty-five slips at the Shallowbag Bay Club Marina in Manteo, N.C., will hit the auction block and be offered individually, by high bidder’s choice. The slips — 60, 50, 40 or 25 feet — will sell regardless of price at an auction at 4 p.m. Oct. 7. The Ship’s Store operation will be offered at…more

Nord West seeks to buy Swedish boatbuilder

Swedish boatbuilder Nord West said it is in negotiations to buy Sweden’s Najad Yachts, which filed last month for bankruptcy. “It is with great pleasure we can participate in the reconstruction of the Najad brand,” Nord West founder and owner Benny Martinsson said in a statement. “Najad represents one of the most respected producers of…more

Seaspension Technologies moves to new location

Seaspension Technologies announced that the company moved to a new location. “STI has moved their operations to a smaller facility in Largo, Fla., to reduce overhead costs. Larger production runs and aggressive negotiations with their entirely domestic supplier base have also helped to bring down the cost of producing the pedestals,” the company said in…more

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