Fountain

Fountain Powerboats, based in North Carolina, was launched in 1972 by former owner Reggie Fountain and it specializes in offshore racing boats. Fountain was acquired in 2012 by Baja Marine Inc., which is led by chief executive Johnny Walker.

New Fountain CEO named as company founder plots his future

Reggie Fountain might have resigned from Fountain Powerboats, but that doesn’t necessarily mean he’s out of the industry for long. Although he has nothing set up at this time, Fountain said this morning that his phone has been ringing off the hook with possible opportunities since the news of his departure came out Friday afternoon.…more

Fountain Powerboats names new CEO

John E. Walker is the new head of Fountain Powerboats following the departure of Reggie Fountain. “Effective immediately, John E. Walker is appointed to the position of president and CEO of Fountain Powerboats. Mr. Walker’s career spans over 28 years in the boat manufacturing industry and Liberty is confident of his executive management abilities and…more

Reggie Fountain resigns

Reggie Fountain, who founded Fountain Powerboats more than 30 years ago, today announced his resignation from the company. “There are key differences in opinion and philosophy between the current owners and myself on how to run the company,” Fountain said in a statement. “I’ve always been one that plotted his own course and feel the…more

Fountain eliminates factory-direct purchases

Fountain Powerboats is discontinuing its factory-direct Fountain Factory Superstore, the company announced today. “The factory superstore was an effective interim selling solution prior to Fountain’s reorganization, but today retail interest is on the rise, our dealers are gaining confidence in our new management team and other dealers are taking notice,” COO John Walker said in…more

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Former president has a new Fountain

Fountain Powerboats and Mercury Marine recently delivered to former President George H.W. Bush his fourth Mercury-powered Fountain fishing boat, the company announced. The Fountain 38CC, which Bush named Fidelity V, is rigged with three Mercury Verado 300-horsepower 4-stroke outboard motors that are capable of pushing the high-performance 38-foot fishing boat to 75 miles per hour.…more

Floorplan financing for Fountain dealer network

Liberty Associates announced a new floorplan financing program for the Fountain Powerboats’ dealer network. Liberty’s affiliate finance company, Palmetto Park Financial, will offer up to $5 million in financing to dealers. “In our continuing efforts to support the Fountain and Baja brands, the Liberty team feels this is an important step to allow our dealers…more

With a new owner, Fountain exits Chapter 11

Fountain Powerboat Industries has emerged from Chapter 11 bankruptcy protection, company founder Reggie Fountain told Soundings Trade Only this morning. The privately-held company is now owned by Liberty Associates, which also is the majority shareholder of Donzi Marine and Pro-Line Boats. Fountain, who filed Aug. 24, 2009 for bankruptcy, said he’s happy with the outcome…more

Fountain reorganization plan meets opposition

FB Investments approved a revised reorganization plan proposed by Fountain Powerboat Industries, court documents show. The unsecured creditors, however, have filed a motion asking the court to deny confirmation of this amended plan. The revised plan changes the amount of money going to some of the various classes of creditors, including FB Investments. In its…more

Most Fountain creditors approve reorganization; voting continues

The majority of unsecured creditors in Fountain Powerboat Industries’ bankruptcy case approves of the company’s reorganization plan, according to documents filed this week in U.S. Bankruptcy Court in the Eastern District of North Carolina. Documents show that, of the unsecured claimants that voted, 47 – or 90.38 percent – accepted the plan, while five, or…more

FB Investments unhappy with Fountain disclosure statement

FB Investments filed an objection to Fountain Powerboat Industries’ disclosure statement, saying the document “lacks sufficient information to permit [FB Investments] or any creditor to make an informed decision” about the company’s proposed reorganization plan. The statement, submitted along with the plan last month, was conditionally approved Dec. 4 by a judge in U.S. Bankruptcy…more

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