Deal provides ”new and unique dealer opportunities” without overlapping existing market share
ShoreMaster and HydroHoist Marine Group, Inc. have announced the merger of their businesses. In a joint statement released yesterday the companies said the combined product offering of the brands covers the broadest spectrum of boat types, sizes and marine environments in the industry across all major product categories in the dock, boat lift and accessories market. The combined enterprise will be the largest dock and boat lift player in North America and will have a 700+ strong worldwide dealer network.
The resulting larger footprint will, the statement read, provide new and unique dealer opportunities without overlapping existing market share.
“I see unlimited potential from the combined forces of these two market leaders,” said Don Hurley, president of ShoreMaster. “ShoreMaster and HydroHoist together produce the highest quality products in their respective marketplaces. 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.”
Increasingly important in a rapidly evolving market, the combined company will boast a more agile development process and two management teams under one leadership.
“The union of our companies focuses on internal synergies, external benefits to customers and the blending of two marquee brands,” said Mick Webber, president of HydroHoist. “We are in the enviable position of having complementary, not competitive operations. I am thrilled by the opportunities this merger creates.”
Webber continued, “Together, HydroHoist and ShoreMaster have enormous potential, and this will allow two companies to merge into one team that will deliver the highest quality products, unparalleled customer service and a seamless experience from purchase to installation. 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.”