Acquisitions and Investments

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

Torqeedo acquires Moonwave Systems

German electric hybrid engine manufacturer Torqeedo bought Moonwave Systems GmbH, also based in Germany, in an effort to bring hybrid drives to the yachting industry.

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Bruntons Propellers announces acquisition

Bruntons Propellers purchased the worldwide manufacturing and marketing rights to the SigmaDrive, a transmission device for yachts and workboats that serves as both an engine and shaft coupling and as a thrust bearing.

Hodgdon Yachts set to acquire Maine boatyard

Hodgdon Yachts and the Boothbay Region Boatyard said they signed a letter of intent to merge the Boothbay Region Boatyard in Southport and Wotton’s Wharf in Boothbay Harbor with Hodgdon Yachts.

Azimut Benetti Group executive steps down

Azimut Benetti Group CEO Ferruccio Luppi is now also serving as CEO of the yachts business line for the group, taking over for Paolo Casini as he leaves the company to pursue other opportunities.

Yara buys marine-pollution control company

Norwegian nitrogen oxide emissions control system manufacturer Yara acquired Germany-based H+H Umwelt ind Industrietechnik GmbH, the maker of Marine Selective Catalytic Reduction technology.

NMTA buys Northwest Paddling Festival

The Northwest Marine Trade Association recently bought the Northwest Paddling Festival, the region’s largest event dedicated to the increasingly popular recreation.

Marine Response Alliance relocates to Texas

Marine Response Alliance, an association of U.S. emergency responders providing OPA 90 Salvage Marine Firefighting, has relocated from Pompano, Fla., to Houston so it can be situated with international salvage partner Titan Salvage. Located near George Bush International Airport, the new Marine Response Alliance office has a 102,500-square-foot maintenance and warehousing facility with 4.61 acres…more

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