Crownline finds a buyer - Trade Only Today

Crownline finds a buyer

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Crownline Boats has been purchased and will resume production in the near future, the company announced today.

Tony Zielinski, owner of Leisure Properties, and Dave Wilson, owner of Misty Harbor and Ultracraft, have joined together to purchase Crownline Boats.

Details of the deal were not released.

Zielinski has extensive experience working for Ford Motor Company within their dealer development department and also owns a marine retail establishment in Wisconsin.  Wilson started Misty Harbor in 1990 and has managed and grown the business to be a leading pontoon manufacturer.

The company also announced that the original leadership team will be rejoining the company. Kevin Riem will be vice president and general manager, Guy Coons will be CFO, Tami Murphy will be director of manufacturing operations and Nathan Heisner will be manager of inside sales.

"Crownline is very excited about our team's future and all the possibilities this exciting new opportunity brings with it," the company said in a statement. "We look forward to the opportunity to reconnect with all of our valued Crownline dealer partners and our employees as we move forward into the future."

In June, Nautic Global Group, the manufacturer of Rinker Boats and Godfrey Marine brands, announced it had entered into a non-binding letter of intent to acquire the assets of Crownline Boats.

An auction that had been scheduled for earlier this month in Chicago for the assets of Crownline Boats was "postponed indefinitely" at the last minute, without any further explanation.

The auction was to include all of Crownline's machinery, equipment, tooling, fixtures, molds, furniture, intellectual property, computer equipment, operating systems, accounts receivable, raw and finished goods inventory and customer information.

Crownline shut down production late last year and was not able to resume production at its West Frankfort, Ill. facility in June, as it had previously announced.

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