Acquisitions and Investments

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

US Watercraft will build C&C Yachts

Warren, R.I.-based US Watercraft LLC acquired the rights to build C&C Yachts. US Watercraft bought the exclusive rights to build, develop, distribute and market all new models of the brand from the Tartan Marine Co. “We are extremely excited to carry on the traditions established by the legendary Canadian boatbuilders who introduced C&C Yachts some…more

Actuant completes Viking SeaTech acquisition

Actuant Corp. completed its acquisition of Scotland-based Viking SeaTech for about $225 million. Viking is an offshore support specialist that provides equipment and services to the offshore oil and gas industry, primarily in the North Sea (U.K. and Norway) and Australia. The majority of Viking’s revenue is derived from offshore vessel mooring solutions, which include…more

Chinese company finalizes Sunseeker purchase

Chinese commercial property and entertainment conglomerate Dalian Wanda Group completed the purchase of Sunseeker International Ltd. for 320 million pounds, or about $496 million. Wanda now holds a 91.81 percent majority stake in the British yacht manufacturer. The remaining 8.19 percent is held by Sunseeker management. “We are excited to embark on the next chapter…more

Skeeter extends B.A.S.S. sponsorship deal

Bass-boat builder Skeeter Products signed a multiyear agreement to continue as an Official Premier Boat Sponsor of all B.A.S.S. tournament circuits. The agreement includes all Bassmaster events conducted within the Bassmaster Elite Series, Bass Pro Shops Bassmaster Opens Series, Carhartt Bassmaster College Series and B.A.S.S. Nation regional tournaments. Also included is the Bassmaster Classic, the…more

UK Sailmakers International has new owners

UK Sailmakers International, owner of the UK Sailmakers name, trademarks and proprietary sailmaking software, was purchased by a large group of UK Sailmakers’ loft owners. With individual lofts becoming owners of the brand, the company said the global group of more than 50 lofts will grow stronger and attract more lofts to the group in…more

Sale of Yacht Path International assets is approved

Assets of Yacht Path International and its related entities were purchased by a sole bidder Monday for $250,000 — an amount the company’s co-founder calls “an absolute joke.” Documents filed in a Florida U.S. Bankruptcy Court say the sale of the yacht shipping business and its sister companies was approved for $250,000 Monday because “no…more

Gunboat’s reshoring attracts industry attention

Peter Johnstone’s decision to move Gunboat International’s operations from China to North Carolina in 2012 has not only endeared the brand to buyers, it has also caught the attention of the mainstream press. A recent article in the Virginian-Pilot highlights the boatbuilder’s decision to relocate domestically, driven largely by the financial benefits of building in…more

T-H Marine acquires Loc-R-Bar assets

T-H Marine Supplies said it acquired all of the assets of Loc-R-Bar LLC. Financial terms of the deal were not disclosed. The patented Loc-R-Bar has been the most widely used boat compartment security device for many years,” T-H Marine president and CEO Jeff Huntley said in a statement. “The Loc-R-Bar system offers a full package…more

T-H Marine Supplies buys O2 Marine assets

Alabama-based T-H Marine Supplies acquired the Oxygenator and U2 Pro Formula product line assets of Minnesota-based O2 Marine Technologies. Financial terms of the deal were not disclosed. “We are very pleased to announce the acquisition of the O2 Marine product line assets. We have admired the work of Dennis Clark and O2 Marine team for…more

Private equity firm buys stake in Seamaster Marine Products

CXO Collective International, a private equity and consultancy business, announced its acquisition of a significant stake in Seamaster Marine Products International, a manufacturer and distributor of marine LED lighting products. “The marine industry has recently emerged from a great recession as a growth sector and Seamaster is well poised to take advantage of this,” the…more

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