Boats Incorporated, a dealer and marina in Niantic, Conn., was sold to an investor group. Terms were not disclosed.
Boats Incorporated sells the Grady-White, Parker and Sportsman brands, as well as Yamaha outboards. The 2.3-acre operation includes a 175-slip marina.
VR Mergers and Acquisitions, a Connecticut business brokerage firm, said it organized the deal. The company said in a statement that Boats Incorporated owners Brian Olson, Don MacKenzie and Peter Rothman hired VR to find the right buyer. Scott Leahy, after a 21-year career on Wall Street, was “looking for an opportunity to combine his business knowledge with his passion for boating and fishing, as well as his affection for the eastern Connecticut coastline,” according to the statement.
"Don, Peter and I wanted to find a buyer with both a good business acumen and a passion for our industry, which we believed was important to keep the firm running in a manner that our employees, customers and vendors had come to expect,” Olson said in the statement. “Scott fit the bill on both counts, and in fact, we believe he will bring the business to another level. We couldn't be more pleased."