Tennessee-based Marine Accessories Corp. was acquired by Blue Sage Capital, a private equity firm based in Austin, Texas.
Marine Accessories is the parent company of several brands in the wakeboard tower and marine canvas segments, including Xtreme Tower Products, Monster Tower, Great Lakes Boat Top and Westland Industries.
“Marine Accessories Corp. is a perfect fit in our portfolio of profitable manufacturing companies with unrealized growth potential,” Blue Sage co-founder and managing member Jim McBride said in a statement. “MAC’s demonstrated performance throughout the economic downturn and into the recovery period speaks volumes for its brands and management team.”
McBride said the current executives at Marine Accessories would remain in place.
“We are extremely excited about the new opportunities we have with this new ownership,” Marine Accessories CEO Rick Reyenger said. “Blue Sage Capital’s investment will allow MAC to grow organically, as well as through additional acquisitions. Our immediate focus will be to escalate innovative new product development and to address underserved markets.”