All Mergers, Acquisitions & Exits articles – Page 33
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NewsUK marina operators merge
Two of the UK’s biggest marina operators – Quay Marinas Ltd and Dean & Reddyhoff Ltd – have agreed to merge. Once finalised later this year, the new combined company will operate the widest network of coastal marinas in the UK.
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NewsNew owners for Marathon Boat Group
US boatbuilder Marathon Boat Group (MBG) has been acquired by Chicago-based private equity firm Altair Investments Inc. Terms of the transaction were not disclosed.
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NewsCorrect Craft acquires Merritt Precision
Milling company Merritt Precision is the latest acquisition by Correct Craft, which says in a company statement that the Florida-based maker of plugs for the marine, automotive and aerospace industries will be integrated into Correct Craft’s Watershed Innovation subsidiary and function as a standalone business.
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NewsBrunswick’s Freedom Boat Club purchase to ‘shape the future of boating’
Brunswick Corp’s acquisition late last week of Freedom Boat Club (FBC) was “rooted in foresight and where we believe the consumer is going.”
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NewsBrunswick to acquire Freedom Boat Club
Brunswick Corp has acquired Venice, Florida-based Freedom Boat Club as part of its strategy to expand its presence in the emerging and fast-growing boat club segment. Terms of the transaction, which is expected to close in the second quarter of 2019, were not disclosed.
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KAM Marine acquires Northport Bay Boat Yard
KAM Marine is broadening its reach in the upper mid-West US with the purchase of Northport Bay Boat Yard on Lake Michigan’s Grand Traverse Bay.
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NewsBrunswick to sell Life Fitness division
In a move to solidify its position as a pure marine company, Brunswick Corp announced it has entered an agreement with the private investment firm KPS Capital Partner LP for the sale of its Fitness division for US$490m.
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MarineMax completes Sail & Ski acquisition
MarineMax is expanding in Texas, completing the acquisition of Sail & Ski Center, which has three locations in two of the states fastest growing markets of Austin and San Antonio.
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Dogus sells stake in Croatian marina operator
Turkey’s Dogus Group has decided to sell its 10.87% stake in Croatia’s leading marina opetator, ACI Marinas. The company’s shares were bought by three local pension funds – AZ mandatory category B pension fund, AZ Profit voluntary pension fund, and PBZ Croatia Osiguranje pension fund.
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NewsCape Charles Yacht Center sold
Front Street Shipyard of Belfast, Maine, has purchased the Cape Charles Yacht Center in Virginia, with an eye toward expansion and creating a premiere superyacht refit and service facility.
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NewsKongsberg completes acquisition of Rolls-Royce Commercial Marine division
Around nine months after it announced the sale of its Commercial Marine division, Rolls-Royce (RR) has today completed the £500m or so transaction to the Norwegian Kongsberg Group ASA. The division includes the links which RR had with the superyacht market including vessel and system design capabilities related to propulsion ...
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NewsCorrect Craft acquires Velvet Drive
Correct Craft has announced the acquisition of Velvet Drive Transmissions, a vendor to the boat and engine builder for the past 40 years. Velvet drive will be “vertically integrated into Correct Craft’s Pleasurecraft Engine Group,” according to a company news release.
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Flagstaff Marine acquires Australian brokerage
Australia’s Flagstaff Marine (formerly Visail Sydney) has acquired The Yacht Brokerage (TYBQ) in Queensland for an undisclosed sum. TYB was formed over four years ago and has since grown into one of Australia’s leading brokerage houses.
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NewsInmarsat accepts £2.6bn takeover offer
Following the announcement late last week that mobile satellite communications company Inmarsat Plc had received a takeover approach, it has now been accepted.
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NewsInmarsat receives US$3bn takeover offer
Global satellite communications company Inmarsat Plc has received a new takeover offer from a transatlantic consortium comprising UK private equity firm Apax Partners, US-based Warburg Pincus, and two Canadian pension funds – CPPIB and the Ontario Teachers’ Pension Fund.
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NewsFincantieri acquires minority stake in Italian shipbuilder
The global shipbuilding and Italian state-owned group Fincantieri has acquired a minority stake in the Genova Industrie Navali (GIN) shipbuilding business. The transaction also includes an option for Fincantieri to buy a minority stake in the T Mariotti shipyard, a subsidiary of GIN which has a dedicated yacht-building arm, Mariotti ...
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NewsCape Charles Yacht Center sold
Cape Charles Yacht Center in the US has been acquired by JB Turner, president and co-owner of Front Street Shipyard in Belfast, Maine, and Nicole Jacques, owner of Rhumbline Communications in Belfast, Maine. The new principals intend to expand the Chesapeake Bay shipyard into a premier superyacht refit and service ...
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V.Group acquires Global Marine Travel
V.Group and Inchcape Shipping Services (ISS) have switched their agency and marine travel interests between each other. It has not been disclosed if any money has changed hands or whether it is a straight swop of two business activities.
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Wireless Logic Group acquires M2MBlue of the Netherlands
Britain’s fast-expanding Wireless Logic Group has acquired M2MBlue of the Netherlands, a company that combines cellular, satellite and land connections to deliver secure internet services to passengers on superyachts and ocean liners.
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Berthon acquires UK marine firms
The Berthon group of companies in the UK has acquired BHG Marine and Willow Marine through its Lymington Marina subsidiary. The move comes not longer after the company acquired Marine IP, producer of the VersaDock mooring system.
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