The truth of the matter is how far off is this possibility? While under the radar of most of the High Performance boating industry the rest of the boating world has been feverishly acquiring and selling Iconic brands in real power plays.
Example in point the folks at Beneteau Group announced it bought Rec Boat Holdings, a group of U.S. brands owned by Platinum Equity Group, which includes Michigan-based Four Winns, Glastron, Wellcraft and Scarab.
California-based Platinum Equity Group’s PBH Marine Group had itself purchased essentially all of the assets of Genmar Holdings for $70 million of which 11 brands, including Ranger, Stratos, Champion, Wellcraft, Four Winns, Larson, Glastron and others. Beneteau says the acquisition is in line with the group’s development strategy for the North American market. The private equity group retains ownership of Flippin, Ark.-based Fishing Boat Holdings, maker of the Ranger, Triton and Stratos boat brands that were also acquired at that time.
Based in Cadillac, Mich., the company has revenue of near $150 million and employs 475 people. It has a network of more than 200 dealers across North America and its entry into the Beneteau Group will “enable them to expand their access to the European and global markets,” the company said they are embarking on the next phase of their project, with motorboats under 40 ft, which requires an industrial investment in America,” Beneteau claims “On its own, this boating segment accounts for nearly 40 percent of the overall motorboat market in the United States.”
Between giants such as Brunswick and that of private equity firms the future of Power boating is likely to see a shake up in the years to come as these companies resources and improved manufacturing efficiency are delivering world-class products and a powerful distribution networks. Its a crystal ball theory but if the past has taught us anything its keep your eyes open the future is racing towards us
