Brunswick Corp has acquired Thunder Jet. Financial terms were not disclosed.
The builder of heavy-gauge aluminium boats from 18ft-26ft is based in Clarkson, Washington. Brunswick said Thunder Jet had 2015 revenues of about US$20m.
"Thunder Jet provides Brunswick with a presence in an attractive niche market where both our boat and marine engine brands are currently under-represented," says Mark Schwabero, Brunswick chairman and CEO, in the statement. "Through this transaction, we are well positioned within the growing heavy-gauge aluminium market, which is strong in the Pacific Northwest and Western Canada.”
The Brunswick chief added that Thunder Jet is a “strong fit” in its acquisition strategies. “The particular business needs to be in a market that we believe has healthy fundamentals, and we need to have the organisational capacity to integrate and effectively manage the business,” said Schwabero. “The acquisition also needs to meet some important internal financial benchmarks.”
The acquisition will have “minimal impact” on Brunswick’s 2016 earnings, according to the statement.