Acquisitions and Investments

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

Puget Sound Instrument Co. has new owner

Longtime family-owned two-way radio and marine electronics firm Puget Sound Instrument Co. is being sold by Richard Hart to new owner Peter Ollodart, an experienced product marketer in the software industry. The company, founded in 1965 by Raymond and Norma Hart, is a leading provider of two-way radio communications, marine navigation, surveillance and wireless communications.…more

Patrick Industries finalizes purchase of graphics business

Patrick Industries completed the acquisition of the business and certain assets of Elkhart, Ind.-based Performance Graphics, a designer, producer and installer of exterior graphics for the recreational vehicle, marine, automotive, racing and enclosed trailer industries. “The acquisition of Performance Graphics, along with the recent acquisitions of the Praxis Group and A.I.A. Countertops LLC, will allow…more

Wisconsin marina has new operator

Manitowoc Marina’s lease and assets were recently sold to Manitowoc Marina LLC. The new management team, headed by industry veteran Rich Larsen, purchased the operation from Sailboats Inc. Manitowoc Marina is a full-service marina with 235 slips that the city of Manitowoc, Wis., owns. Sailboats Inc. has managed and operated it since 1985. Jack Culley,…more

Eastport Boat School has new owner

Perry Marine and Construction purchased the 17 acres and three buildings that make up Maine’s Eastport Boat School for $300,000. The company will use 8 acres to expand its business operations. The rest of the land, including all three buildings, was gifted to the Friends of the Boat School to facilitate the continued running of…more

Florida boatbuilder announces expansion plans

Fort Myers, Fla.-based Nor-Tech Hi-Performance Boats is expanding into the offshore saltwater fishing boat market with a plan that includes new models, new dealers and a key personnel acquisition. Known for many years as a builder of custom high-performance vee-bottoms and catamarans, Nor-Tech recently expanded its lineup to include a growing array of diverse new…more

Maritime Marine Group buys Maine boatbuilder

Maritime Marine Group recently became the new owners of Bristol Harbor Boats, the company announced. Maritime Marine, of Augusta, Maine, is jointly owned by the principals of Kenway Corp. and is “focused exclusively on boatbuilding, marketing and distribution for the company’s marine operations.” Bristol Harbor is the most recent marine-related acquisition for Maritime Marine, which…more

Carolina dealer buys competitor’s inventory

Longtime North Carolina boat dealer Chatlee Boat & Marine recently bought out the inventory of rival Choplin Marine. Chatlee purchased Choplin’s stock of 50 to 60 boats, as well as pickup trucks, tractors, engines, parts and more. “It wasn’t a takeover or anything like that,” Chatlee co-owner Jeff Yow told the Sanford Herald newspaper. “It…more

Nautica International has a new owner

The assets of Nautica International were acquired by USA Rib Tech, which is part of the family of TG Investments companies. Terms of the transaction were not released. “Nautica will be celebrating its 30th year in business, and we are very excited to be a part of it,” TGI CEO Tom Gonzales said in a…more

Sta-Lok Terminals moves to Connecticut

Sta-Lok Terminals relocated its U.S. headquarters from Wilmington, N.C., to Guilford, Conn., and appointed Ocean Supply Chain Logistics to manage the distribution and marketing of its range of stainless-steel rigging hardware products throughout the country. The new warehouse is about 90 miles from New York and 130 miles from Boston. “The move to Guilford will…more

Trend Marine Products expands operations

Superyacht glazing specialist Trend Marine Products, a member of the Taylor Made Group, increased its investment to support superyacht business growth. During the last 18 months, Trend Marine Products has invested $900,000 in state-of-the-art production facilities at its integrated site in the east of England. The investment is a result of its success in winning…more

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