Genmar

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.

Company buys Irwin Jacobs’ non-marine business

Liquidity Services, which provides online marketplaces for surplus assets, announced it is acquiring the consumer goods remarketing business of Jacobs Trading Co., owned by Irwin Jacobs. Liquidity Services is paying $140 million, plus potential performance-based consideration, for the company. The purchase will be financed with a combination of cash, a seller note and Liquidity Services…more

Trustee asks Genmar creditors to return payments

The trustee in the Genmar bankruptcy case is asking creditors who received payments within 90 days of the June 2009 filing to return those funds. “There’s a provision under the code that if some people have been paid prior to filing and received more proportionately than other people have that then the trustee’s duty is…more

Marquis Yachts adds to product line

Marquis Yachts is expanding its product line to include small, portable offices for National Guard recruiters. Production of the Mobile Recruiting Office will mean 379 new jobs and could lead to other markets for the portable 8-foot-by-10-foot structures. “A year ago, this was dark,” Marquis Yachts president Bob VanGrunsven said Tuesday as he looked around…more

Jacobs tells dealers ‘future looks very bright’

In a letter to dealers, Irwin Jacobs, chairman of J&D Acquisitions, says he is “totally convinced and pleased to say that we believe the worst is behind us in the retail recreational boating market.” The letter details the company’s Larson, Triumph, FinCraft and Seaswirl brands, which are produced in Little Falls, Minn. The company also…more

Platinum Equity set to buy shipyard owner

Platinum Equity, owner of several boat lines including Ranger Boats, is branching into commercial boating with a $777 million deal to buy American Commercial Lines, owner of the Jeffboat shipyard in Jeffersonville, Ind. Dan Whelan, vice president of the Los Angeles-based private equity firm, declined to comment, pending the 40-day period in which American Commercial…more

Jacobs and DeJoria confident in new company’s course

John Paul DeJoria, who partnered with Irwin Jacobs to form J&D Holdings, says he’s involved with the new boatbuilding company because it has the potential for being a billion-dollar business. “If I didn’t think there was any growth towards a billion, I wouldn’t even consider it,” he said. DeJoria has lofty goals for the business…more

Trade Only honored for Genmar coverage

Soundings Trade Only won an Apex Award of Excellence in newswriting for its article, “Genmar Aftershocks Rattle Industry.” The article, written by associate editor Beth Rosenberg, appeared in the July 2009 issue of the magazine. It was one of 13 articles recognized in the newswriting category. There were more than 3,700 entries for this year’s…more

Wisconsin gives $1.5 million loan to Marquis Yachts

Wisconsin Gov. Jim Doyle announced Tuesday that $1.5 million in state loans will be given to Marquis Yachts LLC to create 315 jobs at its Pulaski plant. Marquis Yachts, marketed under the Marquis and Carver brands, was sold as part of Genmar’s Chapter 11 bankruptcy filing. Former Genmar chairman Irwin Jacobs purchased the brands with…more

Marquis sportyacht wins Asia Boating Award

The Marquis 500 Sport Bridge made news at the 2010 Hong Kong Gold Coast Boat Show where it received the Asia Boating Award for best premium quality yacht between 31 and 50 feet. The award recognizes the best yachts from around the world. “It is a real honor to be recognized by the nineteen yachting…more

Marquis Yachts’ production ahead of schedule

After emerging from bankruptcy with a new owner, Marquis Yachts has seen employment go from a few dozen earlier this year to about 235 and there are plans to add more workers this summer. That should bring the total to about 275 employees. “Every week we’ve been growing a little bit,” company president Bob VanGrunsven…more

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