The latest news from around the world on mergers, acquisitions and exits across all sectors of the boating industry.
Mergers, Acquisitions & Exits
The two largest wholesale parts and accessories distributors in eastern Canada have announced plans to merge operations and operate as a single entity, effective January 2021.
US-based component manufacturer Patrick Industries announced it has completed the acquisition of Geremarie Corporation, the fifth addition to its business portfolio this year
One of Sardinia’s leading marinas has been put up for sale as an investment opportunity by the Italian state-owned Invitalia agency which deals with investments and enterprise development.
Florida, US-based marine decking manufacturer Teakdecking Systems (TDS) has acquired Teak Solutions SL of Barcelona, Spain.
Acquisition positions US fuel tank manufacturer among five largest rotational molding firms in US
Haven Knox-Johnston is now owned by the Aston Lark Group
Maple Leaf Marinas acquires Walker’s Point Marina in central Canada’s Muskoka region
Swedish engine maker Volvo Penta announced today that it will phase out production of Seven Marine outboard engines, although it will continue to support the brand’s existing customer base
Eekels Technology BV, a Dutch builder and installer of electrical drive and shore power connection systems, has agreed to take over De Keizer Marine Engineering which was declared bankrupt on October 15. No financial details were announced.
Following negotiations which started in 2019, Scottish boat dealer Euroyachts, based in Largs, western Scotland, has changed hands after decades under family ownership.
Ribcraft UK, based in Yeovil, Somerset, has been bought by UK entrepreneur Toby Adams and looks set to expand on the success it has already enjoyed in growing governmental, military and securities sectors as well as placing a larger emphasis on environmental sustainability.
SeaFront Marine Group in the UK has acquired Lymington-based retailer Nick Cox Yacht Chandler, expanding the company’s portfolio of marine product distribution, sales and servicing businesses.