Brownie’s Marine Group reports capital infusion

Author:
Updated:
Original:

Brownie's Marine Group today provided a business update for investors and interested parties, including the news that it recently received about $400,000 in new capital.

“Over the last few months we have received approximately $400,000 in capital from investors, principally in the form of convertible debentures. It is very encouraging that we have added business partners who see the vision for our company,” chairman and CEO Robert Carmichael said in a statement.

“This capital infusion has helped to significantly improve our liquidity and future business outlook. The new funding will first support the growing demand for the new products by enabling us to increase inventories to sufficient levels necessary to narrow the gap between orders and fulfillment.”

Fort Lauderdale-based Brownie's is composed of three specialized dive product groups. The company serves middle-income boat owners, higher-income yacht owners, recreational divers, military operators and public safety personnel.

Related

Windy Boats to Make U.S. Debut with Nautical Ventures

The Florida firm said the Scandinavian brand will complement its other European boat lines.

Beneteau America Names New President

Don Smith joined the French builder in 2018 as outboard sales manager.

Supply and Demand

Facing unprecedented demand, Brunswick plans to reopen its Palm Coast, Fla., plant and expand operations in Mexico and Portugal.

EPropulsion Announces 2021 Lineup

Its electric propulsion offerings now feature hydrogeneration capabilities, 48-volt architecture and more.

Yamaha Updates Midrange Outboards

The F250 and F300 now share features from Yamaha’s 425XTO engine, such as Digital Electric Steering and Thrust Enhancing Reverse Exhaust.

Quick Hits: January 25, 2021

Inmarsat marks significant installation milestone on its Fleet Xpress system and the NMEA announce virtual marine electronics installer training classes for next month.

Yanmar Names Power Solutions Division Manager

Carl J. Micu will oversee sales and the development of long-term growth plans.

Lippert Components Rebrands

The company’s core line of marine, RV and commercial products, including Lewmar and Taylor Made, will be branded as Lippert.