To meet increased sales demand, Turning Point Propellers opened a second warehouse in Jacksonville, Fla., to complement the company’s main warehouse in Itasca, Ill.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
High-performance builder Malibu Boats has entered a bid to go public, a move some analysts say is perfectly timed with a Wall Street trading trend toward the leisure space.
Nautical Ventures Group said it purchased a 51 percent stake in LukFuel, a direct-to-dock fuel delivery company in South Florida.
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.
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 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.
Yacht management and maintenance company Marine Professionals announced the formation of Marine Electronics, a marine electronics and custom audio-visual provider for yacht owners.
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.
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.
The Brewer Yacht Yard Group said it acquired the Oxford Boatyard and Mears Yacht Haven Marina in Oxford, Md.