Acquisitions and Investments

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

Priority One, Sea Tow offer membership deal

Priority One Financial Services and Sea Tow are partnering to give their dealer networks’ customers a free limited Sea Tow membership through the company’s Sea Care program. Upon the close of a new- or used-boat purchase with participating Priority One dealers, customers receive the membership, which offers unlimited free towing, jump-starts, fuel drops and other…more

Engel USA moves to new location

Engel USA, a leader in portable 12-volt compressor and refrigeration technology, moved its warehouse and corporate offices to a larger facility in Jupiter, Fla. “The demand for our products heats up every day,” president Paul Kabalin said in a statement. “We need the additional space to make sure we have the ice chests, fridge/freezers and…more

Seminole Marine buys SouthWind

Seminole Marine Group in Georgia acquired SouthWind boats, previously a part of Bennington Marine of Elkhart, Ind., company president Paul Hoppes announced. Terms of the deal were not disclosed. The boats will be built at the company’s Cairo, Ga. facility, company officials said. Earlier this week, Seminole Marine, makers of the Sailfish brand of saltwater…more

Boat manufacturer eyes expansion

Seminole Marine, manufacturers of Sailfish saltwater fishing boats, formed the Seminole Marine Group to explore additional opportunities in the boatbuilding industry, said Paul Hoppes, president of Georgia-based Seminole Marine. “We strongly believe that marine dealers are looking for long-term relationships with solid, well-run, independent companies, that offer first-class products, great customer service ¬†and immediate consumer…more

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

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