KVH Industries received a new order for its tactical navigation systems valued at $5.2 million from the military.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Garmin Ltd. said it is buying New Zealand-based Fusion Electronics Ltd. and its subsidiaries.
McMurdo Group said it acquired Techno-Sciences, a provider of SAR satellite ground stations, integrated emergency response center systems and coastal surveillance solutions.
Dominion Marine Media said Wednesday that it forged an exclusive partnership with peer-to-peer boat rental marketplace Boatbound, further solidifying what Dominion said is the integral role the sharing economy will play in the future growth of the marine industry.
OBX Boatworks has big goals for the original Hatteras Yachts plant in High Point, N.C., where the company began producing boats in 2012.
SEI Marine Products acquired the assets of API Marine in Fort Lauderdale.
The pace of new single-family home sales plummeted 14.5 percent in March to a seasonally adjusted annual rate of 384,000, which is the slowest pace since July 2013 and disappointing for those who were hoping for some payback after a winter slowdown.
The National Boat Owners Association acquired the Southern Kingfish Association and Tournament Trail.
Donovan Marine said it acquired V&V Marine, Southern Marine and Houston Marine and opened distribution centers in Paducah, Ky., and Chicago.
Redden Marine Supply is opening its fifth retail location, a combined sales and distribution warehouse site on the Lake Washington Ship Canal in Seattle.