Acquisitions and Investments

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

Northcoast Yachts plans to move boatbuilding plant

Northcoast Yachts, of Tacoma, Wash., is relocating to Port Orchard, Wash. The manufacturing plant will be in a yet-to-be disclosed location within city limits, the Kitsap Sun newspaper reported. “We don’t want to tip our hand just yet, but I will say we are negotiating with several people for potential sites,” president and CEO Steve…more

Maverick Boats adds workers in Florida

Florida’s Treasure Coast boatbuilder Maverick Boat Co. is climbing back from the brink. At its recent dealer meeting, owner Scott Deal said Maverick Boats sold out all of its production slots through January. Maverick, which only builds to order, will produce 600 boats for the 2012 model year, the TCPalm website reported. After adding 25…more

Arc Lite Power buys California shipyard

Arc Lite Power LLC, a San Diego-based marine hybrid systems company, signed an agreement to purchase National City, Calif., shipyard Knight & Carver Maritime, the companies announced. The $30 million investment will expand the capabilities of the combined companies to serve the emerging “green marine” market. Knight & Carver, a provider of marine construction and…more

North Carolina marina assets to be sold at auction

Thirty-five slips at the Shallowbag Bay Club Marina in Manteo, N.C., will hit the auction block and be offered individually, by high bidder’s choice. The slips — 60, 50, 40 or 25 feet — will sell regardless of price at an auction at 4 p.m. Oct. 7. The Ship’s Store operation will be offered at…more

Nord West seeks to buy Swedish boatbuilder

Swedish boatbuilder Nord West said it is in negotiations to buy Sweden’s Najad Yachts, which filed last month for bankruptcy. “It is with great pleasure we can participate in the reconstruction of the Najad brand,” Nord West founder and owner Benny Martinsson said in a statement. “Najad represents one of the most respected producers of…more

Seaspension Technologies moves to new location

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

Nautical Specialties moves to new location

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

Ocean Accessories announces acquisition

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 buys new manufacturing facility

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 buys marine grill brand

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

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