Skip to main content

Patrick Completes Acquisition of Diamondback

1_DIAMONDBACK

Patrick Industries announced that it completed its acquisition of Diamondback Towers, doing business as Diamondback Marine.

Diamondback is a Florida-based OEM supplier of wakeboard/ski towers and accessories. The acquisition will immediately add to earnings, Patrick Industries said a statement yesterday.

“Diamondback’s industry relationships, standards for quality and service, and engineering and design capabilities are an ideal fit with our full solutions model and strong brand portfolio,” said Patrick CEO Andy Nemeth. “Diamondback’s vision also aligns well with our capacity expansion plans and automation strategies.”

The business will continue to operate as a standalone unit under the Diamondback Marine brand, Patrick Industries said.

“Our team is excited to join forces with Patrick and its independent brand philosophy,” Diamondback president Bobby Fleckinger said. “We are poised to leverage Patrick’s broad strategic resources and marine industry presence to further our values and goal of providing the highest quality, innovative solutions to our customers.”

Related

CRUISERS

Industry Mourns Cruisers Yachts Owner

K.C. Stock, who was 84, was known for his “commitment to the employees at Cruisers Yachts.”

GRANDBANKS

Grand Banks Purchases Florida Property

The parcel, which is opposite the company’s Stuart yard, has berths for up to nine boats and will increase service capabilities.

LIMESTONE-Q3

Limestone Boat Co. Posts Q3 Results

Unit production was down compared with the second quarter, and revenues decreased 33%.

SIREN-YAMAHA

Yamaha Dealers Now Carry Siren Systems

Siren Marine’s “Connected Boat” technology can be purchased and installed at more than 2,100 Yamaha outboard dealers.

Northpoint

Northpoint Expands Marine Presence

Northpoint Commercial Finance has partnered with Elite Recreational Finance to offer retail financing.

BRP

BRP Reports 71% Increase in Q3 Revenues

The Sea-Doo manufacturer had total revenue of $2.7 billion, but North American marine retail sales were down 47%.

Airmar

Airmar Announces Training Dates

Certified Installer and SmartBoat system classes are being held this month in New Jersey and next year in New Hampshire.

Norm

The Survey Says …

Surveying customers to find out what they think about your business has never been more important.

1_MDI

Marine Development Inc. Changes Hands

Mick Webber, the former president/CEO and owner of HydroHoist, has purchased the company from its founders.