McMurdo purchase is finalized

Author:
Updated:
Original:

The sale of the assets of U.K.-based emergency distress beacon manufacturer McMurdo was finalized Nov. 20, when the transfer from Digital Angel Corporation to Orolia was completed.

The purchase price was $9.6 million, as part of a cash-free/debt-free transaction, with no transfer of account payables and account receivables, the company said.

"We are delighted with the completion of the purchase of McMurdo by Orolia. We very much look forward to working closely with all of the Orolia businesses, especially Kannad, as we share very many similar technologies and expertise, which I am sure will benefit both of us in the future," said Jeremy Harrison, CEO of the newly created McMurdo Ltd., in a statement.

"This acquisition gives McMurdo the much needed springboard to continue our growth and ability to develop more exciting and innovative products for the global safety markets," he added.

The addition of McMurdo will complement Orolia's recent acquisition of French manufacturer Kannad, another distress beacon company.

Related

Sea Tow Makes Executive Appointment

Thomas Spina, who has more than 25 years of maritime experience in a variety of roles, was named vice president of franchise operations.

Godfrey Marine to Host Virtual Showcase

The event is to take place Jan. 23 and will include Godfrey pontoons and Hurricane deckboats.

Boat Shows Throttling Up

2021 is bringing a new paradigm to the winter boat show season.

Correct Craft Plans Expansions

The moves will allow additional growth for Nautique, Supreme, Ingenity and Watershed Innovation.

Avalon and Tahoe Appoints President

Duane Dinninger, who has been with the pontoon builder since 2006, steps into the leadership role.

Casting a Wide Net

Key findings from a Recreational Boating and Fishing Foundation study show how new boaters and anglers are coming to the sport in record numbers.

Quick Hits: January 14, 2021

Ferretti Group publishes its first sustainability report; the National Marine Representatives Association is accepting applications for a $3K marine trade scholarship; and a new boatbuilding program led by seasoned industry vet at North Carolina community college.