Skip to main content

Alumacraft partners with private-equity firm

Alumacraft Boat Co., a privately owned fishing-boat builder based in St. Peter, Minn., announced a partnership with its management team and Corinthian Capital Group LLC to complete a recapitalization that will help Alumacraft grow and expand in the marine industry.

Partnering with Corinthian Capital, a private equity firm specializing in investments in small and mid?sized companies, Alumacraft will continue to have a strong, stable financial position with a commitment to provide quality and value for the consumer, the boatbuilder said in a statement.

“The current management of Alumacraft Boat Co. has worked together for over 10 years and has over 80 combined years in the marine industry. Together with our prior owner, Dave Benbow, Alumacraft has built a strong legacy in the boating community,” company president James Irwin said in a statement.

“Generations of fishing enthusiasts have relied on the quality, durability and value of Alumacraft. When Dave passed away in 2010, we committed ourselves to continue to build on this legacy; Corinthian Capital shares a similar strong commitment to employees, quality manufacturing and growth,” Irwin added. “Combining their resources and support with our strong management team will help the employees and management of Alumacraft continue our tradition of excellence.”

Related

1_CHAPARRAL.FAFARD

Chaparral VP Takes Expanded Role

Senior vice president Mike Fafard will now be in charge of manufacturing, in addition to engineering and design

1_ABYC.ELECTRICAL

ABYC Offers New Electrical Course

Advanced Marine Electrical, the group’s newest certification, is an on-demand, online course outside of scheduled classes

1_SILENTYACHTS

Silent-Yachts Acquires Italian Yard

The facility in Fano, on the Adriatic Sea, has 236,806 square feet of production space and will employ about 250 people

1_GETTINGTECHNICAL

Increasingly Infinite Options

Additive manufacturing is rapidly becoming a go-to technology for companies in the marine industry, and while some choose to outsource, others are taking advantage of the rapidly dropping price of 3D printers.

DealerOutlook

Celebrating 50 Years of the Clean Water Act

The great strides in water quality that the CWA has created have been a huge benefit to boating, but there’s a lot more that remains to be done.

1_IRISINNOVATIONS

Iris Innovations Opens U.S. Office

The U.K.- based on-board camera manufacturer aims to leverage its new location in Fort Lauderdale, Fla., to strengthen its position in the U.S. market.

1_KVHCEO

KVH Industries Appoints CEO, Directors

Brent C. Bruun takes over as president and CEO, and David Kagan and David Tolley were appointed to the board.

1_WINNEBAGO.EARNS

Winnebago Reports 3Q Results

The parent of Chris-Craft and Barletta said profit margins widened after its acquisition of the pontoon builder.