Updated:
Original:

Everglades Boats has a new owner

Private equity firm Grand Crossing Capital Partners LP acquired a majority stake in Everglades Boats.

Private equity firm Grand Crossing Capital Partners LP acquired a majority stake in Everglades Boats, a provider of offshore fishing boats.

No financial terms were disclosed.

Raymond James provided financial advice to Everglades on the transaction. SunTrust Bank provided the financing.

Everglades was founded in 1997 by former Boston Whaler executive Robert Dougherty.

“We are delighted to partner with Grand Crossing to continue building the highest-quality boats in the industry and servicing our loyal customers through our best-in-class dealer network,” Dougherty said in a statement. “With fresh capital, Everglades will accelerate product development and geographic expansion while continuing to bring cutting-edge innovation to the market.”

Dougherty will be retiring as CEO, but will remain an investor in the company. The remainder of the Everglades team will stay in place and be led by executive chairman and interim CEO Tom Flocco, formerly the CEO of Beam Global and a partner at McKinsey & Co.

“This investment follows Everglades’ best sales year to date and is a testament to the company’s legendary product portfolio and strong team. We are confident in continued success and excited about the opportunities ahead,” Flocco said.

Related

Take Action Now

We must take action to push Congress to reauthorize the Sport Fish Restoration and Boating Trust Fund. Here’s how you can help.

Southern Marinas Acquires Missouri Facility

Millstone Resort and Marina on Lake of the Ozarks is the fifth addition this year to the company’s portfolio.

Forbes Names Brunswick a World’s Best Employer

Brunswick ranked in the top 15 percent overall and in the top 10 for companies in the engineering and manufacturing category.

Fountaine Pajot Names Dealer

Atlantic Cruising Yachts Texas is the French builder’s exclusive representative for the Gulf Coast.

KingFisher Boats, Barnacle Form Partnership

The boatbuilder will offer Barnacle’s BRNKL remote monitoring system on several model year 2022 boats.

North Pacific Wins People’s Choice Award

The builder’s 49 Euro was recognized at the recent Trawlerfest Baltimore.