Acquisitions and Investments

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

Priority One president names her successor

Priority One Financial Services president Lisa Gladstone is stepping down from the helm of the company she founded 22 years ago. She named Heather Mariscal, vice president of operations, as her successor. “I have had the joy of working with [Marsical] for several years and am impressed by the depth and speed at which she…more

ADP Lightspeed articles aim to help dealers

ADP Lightspeed, a leading provider of computerized dealer management solutions, launched a new initiative to help dealers increase liquidity by identifying and recovering cash from frozen assets. Using data collected from the company’s network of thousands of dealers, ADP will publish four department-specific articles that focus on common cash management mistakes made at the department…more

Management team buys Valley Towing from parent

Valley Towing Product’s management team purchased Valley Towing Systems from former parent company Thule. The purchasing entity is named GRLC LLC and will continue its marketing efforts under the name Valley Towing. The primary investors include George Caplea, CEO and president; Richard Marsden, CFO; Larry Fisher, vice president of sales and marketing; Chris Fudala, vice…more

Revere Supply buys Safegard USA

Revere Supply, of Jacksonville, Fla., acquired Safegard USA, a manufacturer of recreational and commercial life jackets. Terms of the acquisition were not disclosed. Safegard USA has been a staple in the commercial market for many years and has developed such products such as the Type I 198RT wearable. Safegard has also had a strong presence…more

Sea Sport purchases Fluid Marine assets

Sea Sport Boats Inc., of Bellingham, Wash., purchased the assets of Fluid Marine, the Auburn, Wash.-based builder of C-Dory, Skagit Orca and Tom Cat boats. Sea Sport has been manufacturing boats for recreational use, charter use and governmental agencies since 1955. In 2006, the company purchased the assets of Osprey Boats and began building the…more

Dixie Marine purchased by Watermark group

Watermark Property Group of Baltimore acquired Dixie Marine in Miami. Dixie Marine is an authorized dealer for Mako, Seacraft and Southport, with showroom locations in Miami and Islamorada, Fla. The company also offers certified marine service and parts support for Evinrude, Mercury and Yamaha engines at the Miami location. Dixie Marine plans to open a…more

Ellsworth Marine team joins Crow’s Nest Yachts

The management team of Ellsworth Marine joined forces with Crow’s Nest Yachts following the recent merger of Ellsworth’s assets into Crow’s Nest. Founder Tom Ellsworth and sales manager Bruce Sterling have a wealth of experience and professionalism, according to Crow’s Nest Yachts. During the last several years, they have placed more than $100 million of…more

Economist compares recession to a gravy boat

While experts argue over what this recession will look like years from now, a University of Central Florida economist says it most resembles a gravy boat. Sean Snaith says the pace of the economic downturn and anticipated recovery looks like the slanted handle, bowl bottom and prolonged spout of a traditional sauce-serving dish. “Forget the…more

ITT Rule Industries moving production to Mexico

ITT Rule Industries is moving its production line from Massachusetts to Mexico, its corporate parent announced Monday. Nearly 90 jobs will be lost because of the move, the Gloucester Daily Times reports. Cuts to the local work force will be phased in starting in August and accelerated through the fall, until all manufacturing is halted…more

Naiad Maritime Group buys product manufacturers

Naiad Maritime Group recently acquired VT Motion Control Group from VT Group Plc. The acquisition includes marine system brands Naiad Marine Systems, Maritime Dynamics, Vosper Motion Control and Vosper Stabilizers. These businesses collectively constitute one of the world’s largest suppliers of roll stabilization systems spanning the commercial ship, luxury yacht and military sectors. With the…more

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