Boat manufacturer seeks buyer
Christopher Gerber (CGerber@BoatingIndustry.com)
January 10, 2012
Filed under News
BALTIMORE, Md. - 321 Capital Partners, a Maryland-based investment bank, is conducting a global search for acquisition candidates on behalf of its client, a 40-year old, southeastern U.S.-based sports boat manufacturer.
321 Capital Partners said the client is looking to sell the business in its entirety. The name of the manufacturer is being kept confidential to protect the market share of the business as well as current orders.
The client manufactures sport and recreational fiberglass boats ranging from 18 feet to 28 feet, as well as bow-riders, cuddy cabins and deck boat models. Most its boats are inboard powered but some can be customized for outboard engines.
321 Capital said that while the company has the capacity to produce more than 1,000 boats annually, it prides itself on attention to detail and all boats are handcrafted with every layer of fiberglass hand rolled onsite.
The manufacturer is based out of a 150,000-square foot manufacturing and testing facility on a 16-acre parcel of land in the Southeast and sells through a network of manufacturer's reps and dealers throughout North America and internationally. 321 Capital says the manufacturer has received 23 awards and seven boat of the year awards since 1980.