CXO Collective International, a private equity and consultancy business, announced its acquisition of a significant stake in Seamaster Marine Products International, a manufacturer and distributor of marine LED lighting products.
“The marine industry has recently emerged from a great recession as a growth sector and Seamaster is well poised to take advantage of this,” the company said in a statement. “The company delivers high-quality fit and finish in its products, allowing avid boaters to enhance the look and function of their watercraft. CXO is bringing together its capital and talent into the deal to allow for execution of the business plan at a trajectory not possible with Seamaster’s existing operational capacity.”
“At CXO, we are leading by example, focusing on infusing financial and human capital into successful and growing businesses in order to accelerate the creation of jobs,” CXO Collective co-founder Corbin Cowan said in a statement. “As the next logical step in our partnership with Seamaster, we are leveraging our deep and wide talent bench to bring much-needed resources to this growing company. This acquisition is one driven by both our members and executive team, who see the clear potential for growth.”
With a full line of high-efficiency lighting products, Seamaster allows boats of all sizes to enjoy a level of quality once reserved for large luxury yachts.
“We encourage our customers and distribution partners to celebrate this milestone in the growth of our company,” Seamaster Marine Products CEO John Harwood said in a statement. “CXO is bringing its resources to the dock for Seamaster, and we’re ready to set sail toward even greater success with this partnership. Our charted course includes an expansion of our core product line and several new offerings.”