BRP has entered into a definitive agreement to acquire Triton Industries, US manufacturer of the Manitou pontoon brand, for an undisclosed sum.
The family-owned Manitou business, based in Lansing, Michigan, is best known for its patent-protected V-TOON technology across its entire lineup – an industry ‘game-changer’ for planing, performance and efficiency.
Manitou employs approximately 160 people and has a network of around 150 dealers across Canada and the US.
“The announcement of the acquisition of Manitou is the logical next step in the roll-out of our global marine strategy,” says José Boisjoli, BRP president and CEO. “We are thrilled to welcome a company with such potential and its entire team to the BRP family. Together, we will strive to transform the industry and become a leading marine company.”
The Manitou brand will be added to BRP’s newly formed Marine Group, making it the second boat acquisition to complement the company’s outboard engine portfolio. In June, BRP signed a deal to acquire Minnesota-based aluminium fishing boat manufacturer Alumacraft Boats.
BRP says the addition of Manitou will enable the company to, over time, continue to transform the customer experience, drive opportunities for dealers, provide overall efficiencies to the new BRP Marine Group and bring innovation to the marine industry.
"Manitou’s strong brand, high-quality pontoons and recognised technology made it a natural fit for BRP’s newly formed Marine Group," says Tracy Crocker, president of the Marine Group. "With the acquisition of Manitou, we are strengthening our marine portfolio by entering the fastest growing segment in the boat industry."
The transaction is expected be completed in the third quarter of BRP’s fiscal year 2019 and is subject to the usual conditions.