Acquisitions and Investments

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

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

Springfield Marine buys interest in local company

Springfield Marine, a leading manufacturer of boat seats and seat hardware equipment, purchased an interest in Republic Inc., located in Springfield, Mo., the company announced. Republic is a manufacturer of boat T-tops and leaning posts for OEM builders in the Midwest. Its facility has been supplying the marine industry for 20 years. “The marine industry…more

Group seeks buyer for sportboat builder

An unnamed Southeast-based sportboat builder is up for sale, according to 321 Capital Partners, which is facilitating the process. “After years of profitable ownership, principals of this renowned boat manufacturer have retained 321 Capital Partners, seeking entirety sale options for the business. Owned and operated in the same location for over 40 years, this manufacturer…more

Freeman Marine Equipment has new owner

Freeman Marine Equipment Inc., a U.S. supplier to the worldwide marine industry, is now part of Advanced Marine Technologies. The company was purchased by AdvanTec Global Innovations of British Columbia, Canada. AdvanTec owns the four companies that comprise the AMT Group. The other members are Diamond Sea Glaze, Steelhead Marine and Manly Marine. Terms of…more

Alumacraft partners with private-equity firm

Alumacraft Boat Co., a privately owned fishing-boat builder based in St. Peter, Minn., announced a partnership with its management team and Corinthian Capital Group LLC to complete a recapitalization that will help Alumacraft grow and expand in the marine industry. Partnering with Corinthian Capital, a private equity firm specializing in investments in small and mid?sized…more

Marine financier offers online NADA access

Priority One Financial Services is offering its dealer partners free online access to NADA’s used value guide. The guide offers a comprehensive spectrum of benchmark pricing data that consumers and professionals from various industries use to help buy, sell, trade or shop for vehicles that include RVs, trailers, boats and motorcycles. “Most of our dealers…more

Puget Sound Instrument Co. has new owner

Longtime family-owned two-way radio and marine electronics firm Puget Sound Instrument Co. is being sold by Richard Hart to new owner Peter Ollodart, an experienced product marketer in the software industry. The company, founded in 1965 by Raymond and Norma Hart, is a leading provider of two-way radio communications, marine navigation, surveillance and wireless communications.…more

Patrick Industries finalizes purchase of graphics business

Patrick Industries completed the acquisition of the business and certain assets of Elkhart, Ind.-based Performance Graphics, a designer, producer and installer of exterior graphics for the recreational vehicle, marine, automotive, racing and enclosed trailer industries. “The acquisition of Performance Graphics, along with the recent acquisitions of the Praxis Group and A.I.A. Countertops LLC, will allow…more

Wisconsin marina has new operator

Manitowoc Marina’s lease and assets were recently sold to Manitowoc Marina LLC. The new management team, headed by industry veteran Rich Larsen, purchased the operation from Sailboats Inc. Manitowoc Marina is a full-service marina with 235 slips that the city of Manitowoc, Wis., owns. Sailboats Inc. has managed and operated it since 1985. Jack Culley,…more

Eastport Boat School has new owner

Perry Marine and Construction purchased the 17 acres and three buildings that make up Maine’s Eastport Boat School for $300,000. The company will use 8 acres to expand its business operations. The rest of the land, including all three buildings, was gifted to the Friends of the Boat School to facilitate the continued running of…more

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