Acquisitions and Investments

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

Tennessee dealer buys Kentucky showroom

Marine Sales of Pickwick, Tenn., announced an expansion into Kentucky with the acquisition of Kentuckiana Yacht Sales, which includes a 10,000-square-foot dealership showroom. “We are excited to be expanding our sales operations into the Kentucky Lake area,” Marine Sales of Pickwick general manager Ron Martin said on the company’s website. “With this new location we…more

Hacker Boat Co. announces location of new facility

Luxury boatbuilder Hacker Boat Co. will be the Queensbury Business Park’s next tenant and details about the new facility will be rolled out today. Hacker was awarded $600,000 in state regional economic development council grant funding late last year and the company said it was moving its production facility from Ticonderoga to Queensbury, according to…more

Instrument manufacturer announces acquisition

Thomas G. Faria Corp., a designer and manufacturer of analog and digital engine monitoring instruments, said it acquired Beede Instruments. Faria said Beede, established in 1917, is one of the oldest U.S. gauge manufacturers and has built a strong reputation for quality and customer service working with customers such as the Ford Motor Co. and…more

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

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