Crest Marine, a newly formed corporation in Owosso, Mich., announced its acquisition of Maurell Products Inc., manufacturer of Crest and Sunset Bay pontoon boats.
"Maurell Products was a family-owned organization since 1957, founded by Maurice Schell," Joe Curran, managing partner of Crest Marine, said in an e-mail to Trade Only Today. "His daughter, Linda, inherited the company after [her father's] passing in 1999. Today's business climate precipitated their change to sell those assets and move on."
The acquisition includes the company's real estate, manufacturing facility and equipment, all based in Owosso, Mich., as well as related brands and intellectual property. Crest Marine, along with affiliate pontoon boat manufacturer Sunset Bay, plan to proceed with a product-development process and new marketing initiatives for the acquisition.
"In the near past, Crest and Sunset Bay have been strong in customer satisfaction as well as sales volume," said Curran. "New products, enhanced marketing and solid common-sense business practices will bring the brand back to pre-meltdown market share ratios."