Correct Craft, manufacturer of Nautique boats, created a team of in-house and external industry veterans to begin exploring investment opportunities within the marine industry.
Correct Craft is acting in collaboration with its parent company, Ambassador Enterprises, a private equity firm that obtained full ownership of Correct Craft in 2008.
This team will be led by Correct Craft president/CEO Bill Yeargin. To help survey and assess potential investment opportunities, Yeargin has recruited other industry veterans to join the team, including Chuck West, former CEO of MasterCraft; Russell Baqir, former president of Textron Marine Finance; and Sean Marrero, Correct Craft chief financial officer.
"While many are retreating in this difficult economic environment, we want to move forward aggressively," Yeargin said in a statement. "We have a great team that we believe will identify the right potential partners for both Correct Craft and our parent company, Ambassador Enterprises."