The assets of Nautica International were acquired by USA Rib Tech, which is part of the family of TG Investments companies.
Terms of the transaction were not released.
“Nautica will be celebrating its 30th year in business, and we are very excited to be a part of it,” TGI CEO Tom Gonzales said in a statement. “While true, the current economic conditions did affect Nautica and a lot of other companies, it appears things are changing. We are seeing an influx of welcomed new orders.”
Nautica will continue to manufacture the same “world-class products as before with exciting new products on the way,” he added.