Fountain Powerboat Industries Inc. has retained investment banker Jacobs Capital to help the boatbuilder find a partner that can provide additional capital to get through the economic downturn and finance future growth.
"The present market for boating is not immune to the same forces impacting the auto industry and the overall economy," said Reggie Fountain, chairman and CEO, in a statement. "Fountain Powerboats is one of the premier brands in the powerboat industry, and we plan to be a survivor of the current industry shakeout. We have unparalleled customer loyalty, which has allowed us to see less falloff than most of our competitors.
"From experience, we know the companies that come through this recession will be poised to capture even greater market share," Fountain added.