Mergers, Acquisitions & Exits – Page 45
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UK marine firms in recent takeover deals
Two specialist UK marine firms – the Martek Group and Marindus Group Ltd (MGL) – have been taken over recently by UK and Swedish companies respectively.
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Colonial to sell off Hargrave Custom Yachts
Ft Lauderdale-based Colonial Yacht Sales has announced plans to sell off its Hargrave Custom Yachts brand in the first half of 2019. Colonial owner Michael Joyce, who also serves as CEO of Hargrave, and Michael DiCondina, president of both Colonial and Hargrave, have said that that they will seek the ...
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Gordon Dadds completes £27m Ince & Co takeover
The £27.3m acquisition of the UK assets of Ince & Co LLP law firm by AIM-listed Gordon Dadds LLP has now been completed and the shares in the enlarged company, Ince Gordon Dadds, have resumed trading. Ince & Co is one of the largest superyacht law firms worldwide.
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Hamble School of Yachting acquired
Clipper Ventures, organiser of the Clipper Round the World Yacht Race, has acquired the Hamble School of Yachting, one of the Royal Yachting Association’s (RYA) leading UK sailing schools. The acquisition, for an undisclosed price, is part of Clipper’s strategy to grow its involvement with offshore sailing.
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Three companies team up to build Nordic group for boat equipment
After working together under the same ownership since July 2017, Sweden’s Hjertmans and Norway’s NMS (Maritim) have joined forces with Sweden’s Byggplast (SeaSea). The goal is to conduct an even wider Nordic consolidation focusing on profitability.
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US builder winds down operations
Panga Marine in the US is shutting down operations and is being offered for sale as a “turn-key boat manufacturer”, according to owner Rob McDaniel and the listing agent.
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Eliminator Boats sold
California-based Eliminator Boats has been sold from receivership to RevLine LLC, an investment group headed by Eliminator general manager Jake Fraleigh and his business partner, Todd Mobraten, for a reported US$1.5m.
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NewsCarmanah sells marine division assets to SPX
US$77m transaction expected to close in January 2019
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NewsMarquis to spin off Larson boat line
Marquis Yachts in the US has announced the sale of its Larson boat line and the lay-off of 30 administrative and production workers.
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Dometic Group acquires outdoor aftermarket specialist
The Swedish equipment provider is looking to leverage and expand Kampa’s aftermarket offering across Europe
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NewsNimbus to acquire Brunswick’s joint venture interest in Bella Boats
Brunswick Corp today announced that Sweden-based Nimbus Boats is to acquire its joint venture interest in Finland’s Bella Boats. Terms of the deal are unknown, but the acquisition is expected to close before the end of the year. It will provide Nimbus with ownership of all Bella brands, including Bella, ...
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Mission Critical Electronics buys Xantrex
Schneider Electric has sold its Xantrex electrical equipment manufacturing business to Huntington Beach, California-based Mission Critical Electronics (MCE).
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Beneteau closes Delphia Yachts acquisition
Groupe Beneteau and Delphia Yachts Kot sp. j. reached financial closing of the acquisition by Groupe Beneteau of its operations designing, building and marketing sailing and motor yachts under the Delphia Yachts and Maxi Yachts brands in Warsaw, Poland on Friday.
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NewsSmoker Craft sells furniture manufacturing business to Lippert Components
US boatbuilder Smoker Craft Inc announced Friday that the company has sold its in-house marine furniture manufacturing operation to Elkhart, Indiana-based Lippert Components Inc (LCI).
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Donovan Marine acquires Morgan Recreational Products
Donovan Marine, the Louisiana-based international distributor of marine components and transportation equipment, has acquired Morgan Recreational Products in a deal with undisclosed terms.
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NewsDutch motorboat builder finds new owner
Beleaguered Dutch shipyard Jetten Jachtbouw today announced that it is ‘business as usual’, thanks to financial support from global investment firm Oxbridge SE. According to a company statement, Oxbridge has acquired a significant controlling share in Jetten Bommelaer BV, trading under Jetten Jachtbouw, as well as all the tooling, branding ...
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NewsNew ownership for bankrupt Italian yards
Two Italian yacht-builders that have both been in a bankrupt state have recently been acquired by new owners. The two businesses are Cantieri di Pisa and the Privilege superyacht yard located at Civitavecchia, near Rome. The latter also included an uncompleted shell of the 127m (416ft) Project One.
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NewsMondomarine sold
Palumbo Superyachts, the yachting division of Italy’s Palumbo Group, has acquired Italian refit and repair yard Mondomarine for an undisclosed sum.
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