Fiberglass fishing-boat builder Fishing Holdings LLC is planning to enter the aluminum boat market.
The builder, owned by Platinum Equity, announced the acquisition of a manufacturing facility in Flippin, Ark., with the intent to launch an aluminum boat product line, according to a statement. Terms of the transaction were not disclosed.
The facility includes existing manufacturing space and office and administrative room. Fishing Holdings builds fiberglass fishing boats, including Ranger, Stratos and Triton.
The company will invest $2.5 million to transition and expand the facility and plans to create more than 50 new jobs during the next several months. Production is scheduled to start by the fourth quarter of this year.
“The new manufacturing facility is a great addition to our portfolio, and we feel this market represents an opportunity for growth moving forward,” Fishing Holdings president Randy Hopper said in a statement. “The acquisition would not have been possible without the support of Governor [Mike] Beebe and the state’s Economic Development Commission. It’s a partnership we’re very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity.”
Fishing Holdings, based in Flippin, Ark., is owned by an affiliate of Platinum Equity.