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
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Nautical Specialties, manufacturer of Lasdrop shaft seals, recently moved to the historic port city of Port Huron, Mich., where the company said it has doubled its capacity to serve the global marine industry worldwide. The new facility features upgraded manufacturing equipment and expanded warehouse capacity, allowing it to manufacture and ship Lasdrop products faster and…more
Guilford, Conn.-based Ocean Accessories, a manufacturer, importer and distributor of specialty boating products, acquired Master Fender Covers. The purchase includes all inventory and intellectual property. Terms of the deal were not disclosed. Master Fender Covers are designed to protect the topsides and hull from fender scuff, reducing the need for gelcoat repairs.
Legend Boats purchased a new 75,000-square-foot manufacturing facility in north-central Arkansas, the company announced. The Midway, Ark., facility will house all production and operations of the company and will replace the current factory. “Sales of our boats are through the roof and we just can’t keep up with the demand in our current facility the…more
Camco Manufacturing Inc., a leading marine accessories and fluids manufacturer, acquired selected assets of Kuuma Innovations, a maker of specialty stainless-steel marine barbecue grills and marine hot-water heaters. Terms of the deal were not released. Mark Vertanen, one of Kuuma’s founders, will continue with Camco, working with the Kuuma brand and product development. Kuuma, translated…more
Johnson Sails Inc., better known as JSI, is rebranding its retail store with the name Island Nautical. “The renaming of the store comes with hope of attracting new boaters unfamiliar with the JSI name,” the St. Petersburg, Fla.-based company said in a statement. “Traditionally catering to the local sailboat industry and sailboat owners, Island Nautical…more
Dinghy Planet LLC today announced the acquisition of KO Sailing, a leading provider of recreational and performance sailboats, kayaks, windsurfers and accessories. Terms of the deal were not released. KO Sailing’s new owner and president, Mark J. McNamara succeeds current owner John Kolius and plans to continue KO Sailing’s longstanding support of boat enthusiasts with…more
Key Largo Sportfishing Boats announced Thursday that it is under new ownership — Sak Marine. Sak, of Florence, Ala., owns Caravelle Powerboats, Interceptor Performance Boats and SeaHawk Sportfishing Boats. Terms of the deal were not released. “We appreciate that overpriced boats are struggling in the marketplace, and like our Caravelle boat model line Key Largo…more
Scott McLaughlin, a North Carolina businessman and the owner of Albemarle Boats, acquired Carolina Classic Boats. Albemarle and Carolina Classic, both located in Edenton, N.C., will unite to build sportfishing boats ranging in size from 24 to 41 feet. Terms of the deal were not released. “Over the past two-and-a-half years Albemarle and Carolina Classic…more
Canadian boatbuilder Grew Manufacturing is in the care of a receiver and looking for a buyer. The company has liabilities of more than $2 million and about 100 creditors, receiver BDO Canada Ltd.’s Bill Courage recently told the Owen Sound Sun Times newspaper. The company’s manufacturing plant south of Owen Sound in Ontario has been…more