The latest news from around the world on mergers, acquisitions and exits across all sectors of the boating industry.
Mergers, Acquisitions & Exits
Harken Inc, the US-based deck hardware manufacturer, has been acquired by its employees. The news comes not long after the company announced that it had acquired its longtime Dutch distributor, On Deck BV, for an undisclosed sum.
Italian brand reports €140m losses over nine years and no-go deal with Sanlorenzo
On Deck BV now operates as Harken’s eighth foreign subsidiary
Cockwells Modern & Classic Boatbuilding has acquired Hardy Marine
Marine components supplier acquires working capital, machinery and equipment, and real estate of Inland Wood
Bricks and mortar boat retailer makes move to expand online presence
Just one year after launching its first all-electric yacht, US-based Nova Luxe has acquired South African yacht-builder Scape, according to a company statement.
A planned SG$4bn investment by Temasek, the sovereign wealth fund of Singapore, to gain a majority stake in Keppel Corporation, one of the biggest operators in the shipbuilding, offshore and real estate sectors in the island state, has been aborted following the recent poor financial performance of the group.
In its 99th deal since being established in 1989, US private equity business River Associates Investment has bought Yale Cordage, a leading supplier of rope systems to the recreational and commercial marine sectors. The acquisition was in partnership with Yale’s management team. No value for the purchase has been released.
John Buckley of Harbour Marine Services acquires UK boat fittings manufacturer
Italy’s only serial cat producer has been sold to Under Heaven
Scott Bader Australia Pty Ltd has acquired the assets of Summit Composites Pty Ltd for an undisclosed sum. The GRP resins supplier has been working alongside Summit Composites for over 10 years, with Summit distributing their high-performance resins, gelcoats and adhesives to the Australian market.