Acquisitions and Investments

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

German manufacturer building South Carolina plant

German manufacturer Tognum is setting up a new engine assembly and manufacturing plant for Tognum’s MTU brand in South Carolina’s Aiken County. It will replace the existing assembly plant in Detroit. Production is scheduled to begin at the end of this year. In addition to the assembly of engines, the plant will be used for…more

Yacht broker buys Maryland marina

Shady Oaks Marina in West River, Md., was recently purchased by John Martini, who had worked there when his father owned it more than 25 years ago. Shady Oaks, which had been owned and operated by Tom Frank in recent years, is a 60-slip marina in a protected cove off the West River. It caters…more

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

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