Malibu Boats is leading the ski boat performance segment as the No. 1 or No. 2 brand in 80 percent of the markets, according to the company.
Malibu Boats plans to use the $76.8 million in proceeds it got from offering more than 5.5 million shares to buy units of Australian licensee Malibu Boats Holdings LLC from its owners.
Malibu Boats’ offering of 4.8 million shares, priced at $18.50 a share, is expected to close this week.
Despite some early incremental share losses this year, Malibu Boats expects to realize modest share gains in 2014 overall that are driven by an accelerated pace of innovation and distribution enhancement.
Malibu Boats saw third-quarter net sales increase 6.9 percent to $50.3 million and gross profit increased 7.2 percent to $13.4 million compared with the same quarter last year.