China’s private yacht market will not grow as rapidly as the market for luxury cars or handbags and will be driven by sales of smaller yachts.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Peer-to-peer boat rental company Cruzin and Westrec Marinas announced a strategic alliance at the Fort Lauderdale International Boat Show. Westrec will help promote Cruzin to customers at its marinas nationwide. Westrec earlier helped Cruzin’s beta launch in Fort Lauderdale with a pilot at Westrec’s Harbour Towne Marina. Offering a way for boat owners to generate…more
Miller-Leaman, a Florida-based manufacturer of custom sea strainers, announced the sale of its Thompson SeaStrainers to North River Boats for use in its Almar line of boats. Oregon-based North River Boats builds aluminum vessels for commercial and recreational markets. Its recreational boats include the Scout, Seahawk and Trapper. “Miller-Leaman worked directly with us to provide…more
Bernard Engraving Co. acquired the Beckson Marine line of Memory-Mate Log Books as the company continues to grow its line of boating products. The company also announced the return of the popular format of the log book, the MM303 22-ring, loose leaf with a two-page spread for each voyage or leg of a voyage. “We’re…more
The Florida Keys’ largest resort was recently sold to Carey Watermark Investors. The real estate investment trust’s total investment in the Hawks Cay Resort is about $149.4 million, including a $133.8 million purchase price and $15.6 million of planned capital improvements and other acquisition-related costs. The acquisition was financed with $79 million of debt. The…more
United Yacht Transport LLC announced that it will build the world’s largest yacht carrier in an effort to grow its yacht transport business. The Fort Lauderdale-based company said the semisubmersible vessel is slated for delivery in the second tax quarter of 2015. United Yacht says the conversion of a Panamax-size bulk vessel will produce the…more
Marine steering and control manufacturer and distributor SeaStar Solutions, formerly known as Teleflex Marine, acquired Mallory Marine from Prestolite Performance, a manufacturer and distributer of auto-racing products. Mallory Marine markets a full line of inboard and outboard engine replacement parts, oil and lubricants. The deal does not affect Mallory Ignition, the sister company to Mallory…more
Ultrasonic transducer and sensor manufacturer Airmar Technology Corp. acquired “substantially all of the assets” of Marport Deep Sea Technologies’ Commercial Fishing division, a developer of advanced sonar technology. Airmar will also acquire the name “Marport” and the Web domain as a part of the transaction. Terms of the acquisition weren’t disclosed. “The integration of our…more
Marine mobile technology company My-Villages bought the information management software company DockMaster. By integrating DockMaster software and My-Villages’ consumer and professional application, called the Boat Village, My-Villages will serve more than 600 marinas, several Top 100 service centers, dealers, boatyards and marine service centers in North America and the Caribbean, the companies say. “The biggest…more
Portland Yacht Services owner Phineas Sprague Jr. purchased Gowen Marine, a boat repair business that has been a 2-acre fixture on the waterfront in Portland, Maine, for more than 50 years. Sprague sold his 10-acre Portland Co. Marine Complex on the eastern end in late July and closed the following week on separate purchase and…more