British luxury motoryacht manufacturer Fairline Boats has reportedly gone into administration, the U.K. financial circumstance analogous to Chapter 11 bankruptcy protection in the United States.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Viking Yachts signed a letter of intent to buy the land and structures of fellow New Jersey sportfisherman builder Ocean Yachts and plans to build some of Viking’s smaller yachts at the Mullica Township plant.
Gibbs & Cox acquired Donald L. Blount and Associates, a Chesapeake, Va.-based firm known for naval architecture and marine engineering services for recreational, commercial and government clients worldwide.
T-H Marine Supplies of Huntsville, Ala., acquired the assets of HydroWave LLC of Carrollton, Texas.
ValvTect Petroleum Products of Northbrook, Ill., said today that it acquired Michigan-based Energy Additives Inc., a supplier of LPG/propane fuel additives and the exclusive distributor of Blue Moon propane filtration systems.
Suntex Marina Investors acquired the Ocean Marine Yacht Center in Portsmouth, Va., from Ocean Marine LLC, a subsidiary of Valiant Holdings LLC.
Reuters is reporting that sources who asked not to be identified say Bass Pro Shops is exploring an offer for Cabela’s, the U.S. hunting and fishing store chain targeted by activist investor Elliott Management.
Brunswick Corp. said today that it added Garelick Manufacturing Co., a maker of seat, table hardware and other items, to Brunswick’s growing marine parts and accessories business.
Private equity firm Grand Crossing Capital Partners LP acquired a majority stake in Everglades Boats, a provider of offshore fishing boats.
The renowned New Orleans yard, name and designs are on the block at an asking price of about $30 million