Acquisitions and Investments

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

Tartan/C&C buys Legacy Yachts

Tartan/C&C Yachts announced it acquired Legacy Yachts of Middletown, R.I. All Legacy manufacturing and business operations are being relocated to Tartan/C&C’s Ohio location. The acquisition was completed in early January, sales manager Andrew Drumm said in an e-mail to Soundings Trade Only. “We have been working on this acquisition for quite some time,” he said.…more

Maxwell moves to Maryland

Maxwell, an anchoring equipment company, has moved the Maxwell America operations from Santa Ana, Calif., to the Hanover, Md., headquarters of parent company, VETUS America. The move will reduce shipping times and costs to the East Coast and Midwest where a large concentration of distributors and powerboat OEMs are located, the company said. “Being able…more

Northwest Jet Boat brand sold

Renaissance Marine Group has purchased certain manufacturing assets, inventory and rights to build and market the Northwest Jet Boat brand of welded aluminum sport and fishing boats. Terms of the transaction were not disclosed. RMG is the parent company and manufacturer of Duckworth, Weldcraft and Columbia Boat brands. With the acquisition of Northwest Jet Boats,…more

SeaAway plans new Florida world headquarters

SeaAway may build its world headquarters near the Sea Ray Boats campus on Merritt Island, Fla., and create 100 new jobs to help fight terrorism on the ocean. The maritime security company proposes to spend $60 million on construction and $12 million for equipment, Florida Today reports. The move would add three buildings and expand…more

Florida builder plans to add jobs

Custom boatbuilder American Custom Yachts, located in Martin Country, Fla., plans to bring as many as 40 new jobs to the area to accommodate two large yacht construction projects under way at its 63-acre Stuart facility. “Thanks to our expansion over the past few years, we are now able to take on projects of this…more

Marine companies expand, move facilities

Perko has broken ground on a new investment cast foundry, increasing the Miami facility’s manufacturing operation to 450,000 square feet. Production is expected to begin during the first quarter of 2010. “We’ve been in business for over 100 years and we’re in it for the long haul,” vice president of sales and marketing George Bellwoar…more

Poole, Starling purchase Morehead Marine

Poole Marine Service Center, along with Starling Marine, acquired the assets of Morehead Marine in Morehead City, N.C. “Even though the name has changed, Gregory Poole Marine Service Center will continue to offer the same service you have come to expect, including dockside mobile service; pickup and delivery; bottom painting and cleaning; detailing; shrink-wrapping; storage;…more

Marine Flotation Products to sell boat-lift rights

Marine Flotation Products is looking to sell and/or license its patent-pending technology rights to its boat lift, the SlipLift, and its salvage products, the SalvageLift, Vessel-Retriever and Salvage-Retriever. “Instead of attempting to spread ourselves in too many directions at once, we think it’s best to offer other companies, which are better capable of commercializing and…more

Chesapeake Soda Clean moves to larger location

Chesapeake Soda Clean moved to a larger facility in Millersville, Md.,  to provide a showroom, training and warehousing under one roof. The move gives Chesapeake Soda Clean 25 percent more space than its former Annapolis office and Baltimore warehouse. Also, the new facility’s proximity to Baltimore-Washington International Airport offers more convenience for customers. “Our move…more

Dealer buys marina, another closes its doors

A boat dealer in Moravia, Iowa, purchased the assets of Rathbun Marina, including two boating locations on Rathbun Lake and the Lakeside Inn. Douglas and Sheila Clemens, who operate Your Boat Works, plan to move their business onto the Rathbun Marina property at Buck Creek early next year. The business sells Starcraft boats, according to…more

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