A New Brunswick company recently expanded to Maine and is building boats for the fishing industry, search-and-rescue and other purposes in Eastport.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Malibu Boats said it will buy all of the equity interests of the Malibu Boats licensee in Australia.
CDI Electronics said it acquired Arlington, Wash.-based Ballard Commercial Industries, which is known as Balmar.
Deep Impact Boats selected PierVantage to run its operations with its cloud-based business management solution for boatbuilders.
The Finnish-built, all-weather sport utility boats sold under the Minor Offshore brand will now carry the name Sargo.
Outdoor gear chain Cabela’s announced plans to open stores in three new markets — Huntsville, Ala.; Oklahoma City, Okla.; and Woodbury, N.Y.
The maker of Chaparral and Robalo boats has been looking to buy a complementary business, specifically eying pontoon builders, although the company has been outbid by private equity groups so far.
Ultrasonic transducer and sensor manufacturer Airmar Technology Corp. more than doubled its footprint at its Milford, N.H., headquarters with the opening of a 73,000-square-foot manufacturing plant.
KVH Industries received a new order for its tactical navigation systems valued at $5.2 million from the military.
Garmin Ltd. said it is buying New Zealand-based Fusion Electronics Ltd. and its subsidiaries.