Platinum Equity talks about the future.
Genmar Holdings, formerly headed by Irwin Jacobs, was once one of the two largest boatbuilders in the world, with 15 brands, until it was forced into Chapter 7 liquidation in 2009. Several brands became part of Platinum Equity’s boat lineup, but some were bought by J&D Acquisitions, headed by Jacobs and partner John Paul DeJoria.
Some analysts covering the marine industry are speculating whether Platinum Equity’s boatbuilding brands, acquired out of bankruptcy nearly four years ago and referred to as the PBH Marine Group, are poised to go public.
Irwin Jacobs laid to rest any rumors that he was looking to buy Hatteras and Cabo from Brunswick Corp. “The only thing I will acknowledge is that we did take a serious look at it,” Jacobs told Trade Only Today. Jacobs told Trade Only in February that he was not in negotiations to buy the…more
This spring, Larson Boats will unveil a new line designed to compete with pontoons that will be built at a new 35,000-square-foot factory at the company’s Little Falls, Minn., complex. That’s according to co-owner Irwin Jacobs, who told Soundings Trade Only that the competitively priced Escape line will debut in May or June and initially…more
Marquis Yachts LLC won Asian Yachting’s “Best of the Best” yacht award sponsored by BMW and Asia Boating magazine. Marquis Yachts co-owner Irwin Jacobs, president Robert VanGrunsven and Michael Marcotte, general manager of the company’s Asian affiliate, Poly Marquis, accepted the award at a black-tie event at the InterContinental Sanya Resort in Sanya, China. “The…more
Irwin Jacobs and others have filed suit against Charles Ries, the Chapter 7 trustee of the bankruptcy estates of Genmar Holdings and certain former subsidiaries of the company, saying he has published false statements concerning past business dealings that have caused Jacobs to suffer “harm to his business and personal reputation” and have injured “current…more
J&D Acquisitions announced that the Carver Yachts, Larson, Striper and Triumph Boat companies are being added to the recently announced joint venture agreement with Poly Technologies Inc. and Marquis Yachts LLC. “I’m extremely pleased that we are now able to include all J&D boat brands into our recently announced JV agreement with the prestigious Poly…more
Genmar’s boat lines were sold off more than two years ago, but the battle to recoup cash from Irwin Jacobs and others is ongoing. The bankruptcy trustee for Genmar Holdings Inc. has filed dozens of “clawback” lawsuits seeking millions of dollars that were paid to insiders and Genmar subsidiaries before the company’s 2009 bankruptcy filing.…more
Marquis Yachts LLC, a wholly owned subsidiary of J&D Acquisitions, formed an exclusive partnership in China with one of the country’s largest state-owned companies, Poly Technologies Inc., for the sales and distribution rights for Marquis Yachts throughout China. The new joint venture will be called the Poly Marquis Yacht Co. Ltd. “This is one of…more
Marquis Yachts’ new division, Carver Manufacturing, is growing and increasing its product range, using VEC technology, the company announced. It recently announced the fifth execution of its custom fiberglass modules — a newly designed module for the Kingsford Charcoal Co., in conjunction with Wal-Mart. The luxury yacht builder started a new division of the company…more