Florida-based Action Craft Boats said it will begin production at a second facility in response to growing demand for its bay and flats boats.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Marine stabilization and gyro manufacturer Seakeeper said it is expanding at an unprecedented rate, with gyro shipments up 46 percent in 2014 from the previous year, prompting the company to expand its sales and service staff, add certified and installation centers worldwide and add a new location for the company’s Florida office.
Two brands in marine outfitting said they merged to offer outfitting, fine furniture and finishing solutions for boats ranging from small center consoles to superyachts.
Suntex Marina Investors LLC, an owner and operator of marina properties, said it raised more than $200 million of equity commitments in a series of private placement transactions.
General Electric is selling its commercial leasing and lending businesses, which carry more boat dealer floorplan financing than any other lender, to Wells Fargo as the conglomerate continues to shed businesses and refocus attention on its industrial core.
Portland, Maine-based DiMillo’s Yacht Sales said it acquired Acadia Yachts Sales, a yacht dealership and brokerage firm in Oxford, Md., that represents Sabre Yachts, Back Cove Yachts and Coastal Craft.
Pontoon manufacturer Bennington Marine announced today that it completed the acquisition of the brands and “certain assets” of Nautic Global Group LLC and is assuring dealers and customers that all of the brands will continue to function independently.
True to Jim Malone’s upfront style, the newly reinstalled Nautic Global Group CEO says he isn’t sure whether the company will be sold as a whole or brand by brand. But, Malone says, he thought it best to put rumors to rest by clarifying the sale situation to the extent possible.
Marine Mat said it filed a patent application titled Removable Foam Traction Mat that claims the benefit of an earlier filed provisional patent.
Pontoon builder Bennington Marine bought Nautic Global Group and its eight boat brands.