ShoreMaster and HydroHoist Marine Group today announced the merger of their businesses. Financial terms were not disclosed, but a statement said the “combined enterprise will be the largest dock and boat-lift player in North America.”
The company will now have a global dealer network of more than 700 locations. “The resulting larger footprint will provide new and unique dealer opportunities without overlapping existing market share,” said the statement.
“I see unlimited potential from the combined forces of these two market leaders,” said Don Hurley, president of ShoreMaster, in the statement. “It makes sense to combine our unique product lines and networks to offer a one-stop-shop for marine products. Our merger achieves that goal while retaining the enthusiasm and motivation that drives each company individually.”
The company will now have a “more agile development process” and “two world-class management teams under one leadership,” said the statement.
“The union of our companies focuses on internal synergies, external benefits to customers and the blending of two marquee brands,” said Mick Webber, HydroHoist president in the statement. “We are in the enviable position of having complementary, not competitive operations. With the leadership of ShoreMaster and the scale of our existing dealer network, I am confident that we will continue to lead the industry as the preeminent marine equipment manufacturer.”