Brownie's Marine Group said Thursday that it entered into a strategic agreement with Triton Submarines LLC in which the companies agreed to actively promote each other's product lines in addition to their own, earning referral fees on the value of the incremental revenue the agreement generates.
Vero Beach, Fla.-based Triton was established in 2007 to manufacture manned submersibles designed exclusively for yacht-based deployment. The company has since emerged as a global leader in deep-diving submersible engineering, design and manufacturing.
Fort Lauderdale-based Brownie’s is a leading developer, manufacturer and distributor of highly specialized dive and safety products.
“We have been working with Triton on a limited number of products for a couple of years now,” Brownie's CEO Robert Carmichael said in a statement.
“This agreement expands our scope to their entire product line and vice versa. Triton embodies everything that Brownie's stands for and have worked hard to build over the years — innovation and development of the best products our industry has to offer. This is an excellent opportunity to expand Brownie's revenue streams and further improve 2012 operating results, which show a substantial improvement over 2011 results."
Products from Brownie's and Triton are on display at the Fort Lauderdale International Boat Show, which runs through Monday.