All articles by Subscriber-only – Page 264
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NewsConsolidation in the electric boat market as Pure Watercraft buys pontoon maker
The US boatbuilder and inventor of a plug-and-play, drop-in electric outboard motor system has acquired ELUX Marine for an undisclosed sum
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NewsShow organiser Informa Group looks beyond pandemic
Informa PLC, the London, UK-listed global events organiser responsible for the Monaco Yacht Show and Fort Lauderdale International Boat Show amongst others, has indicated in its 2020 half-year results that its profits for last year are likely to be around 70% down.
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NewsUS boat sales hit 13-year high in 2020; boom to continue
With heightened interest in outdoor recreation and ways to social distance, consumer demand for new boats is expected to carry over into 2021 and beyond
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NewsBurgess moves from profit to loss
Difficult market conditions caused 24% drop in turnover to £16.63 million for UK yacht brokerage firm
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NewsQM Industries in joint venture with Multiflex Marine
QMI-Multiflex to supply and manufacture marine steering systems, cables, controls and accessories for the US market
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NewsEU, China sign tentative trade and investment accord
The deal still needs to be approved by the 27 EU governments and the European Parliament
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NewsLawsuit ends in $25.16m judgement against Tracker Marine
The long-running class action against the US builder was finalised on December 30 for charging buyers a $75 fee for documentation
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NewsAkzoNobel boosts North American presence with New Nautical Coatings purchase
In a multimillion investment, global paint and coatings manufacturer AkzoNobel NV said it would significantly increase its market presence in North America and the Caribbean with the acquisition of New Nautical Coatings Inc, the owner of the premium Sea Hawk coatings brand. While no transaction figures were divulged about the ...
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NewsMalibu acquires Maverick for strategic, complementary hull and price point expansion
Malibu Boats has acquired the four brands of the Maverick Boat Group, expanding production capacity and distribution potential in what the parent company is calling a “strategic transaction that complements Pursuit and expands Malibu’s saltwater outboard offerings in boat type and price point.” Maverick, and its founder Scott Deal, are ...
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NewsOneWater buys eight Florida marinas and boat dealerships
The US retail giant has further expanded its presence in Florida with the acquisition of two more yachting businesses, including the company’s largest acquisition to date.
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NewsPost-Brexit, EU-Britain free trade deal can be an obstacle race
The EU-UK Trade and Cooperation Agreement inevitably presents hurdles for Europe’s boating and related sectors on both sides of the English Channel – from VAT to border red tape, from travel curbs to rules of origin. Recognition of professional qualifications is at stake. There will be free trade in goods, ...
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NewsUS RV shipments expected to jump by near 20% this year
Full-year wholesale sales expected to eclipse 500,000 units in 2021
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NewsTeledyne to acquire FLIR Systems
Raymarine parent company, FLIR, enters into $8 billion deal with digital imaging and instrumentation specialists Teledyne. Yesterday’s announcement and follow-up Q&A with analysts hint at the near-term future of FLIR’s portfolio, including Raymarine
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NewsYamaha Marine reorganises and announces management changes
With the objective of strengthening its overall marine business strategy and to increase value, Yamaha has announced that its current engine and boat sections will be progressively dissolved, and the marine business operations will be reorganised according to their specific functions. In order to accelerate marine product development and to ...
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NewsPrincess Yachts trading update highlights strong 2019-20 performance
The UK builder’s £600m order book extends into 2022 with company poised for further growth
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NewsBoats Group $850 million sale update
New owners of the international online brokerage service believe the boating industry has many unmet needs
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NewsInternational Superyacht Summit in Dubai is postponed
The organisers of the annual International Superyacht Summit in Dubai have announced a postponement of this year’s event, which was scheduled to run in March, until later in 2021. In a statement issued today, the organisers, Dubai-based Fabulous Yachts which runs the event under the patronage of P&O Marinas, said: ...
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NewsLippert acquires boat seating business
US-based Lippert Components expanded its holdings in the marine sector with third acquisition in 2020
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NewsGibraltar to join Schengen, minimising Brexit impact for yacht visitors
Under draft deal Spain extends Schengen arrangements to include Gibraltar
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NewsHatteras wants $2.5m lawsuit over custom yacht dismissed
Lawrence Smith filed a lawsuit last November against US boatbuilder Hatteras/Cabo Yachts over a $10.1m motoryacht. Smith entered into an agreement for the boat, a 2021 model Hatteras M98 Hull 101, in August of 2019 with an estimated delivery date of February 2021. But in March 2020 Smith was told ...
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