Company: CMP Group Ltd, MarineTech
Business Type: Manufacturer
UK & International Business Sales and M&A News
CMP Group Ltd, with its HQ in Vancouver, has acquired Minnesota-based MarineTech Products Inc. With manufacturing operations in Canada, Italy, the US and China, CMP Group manufactures and distributes a range of marine products.
MarineTech is a long-standing provider of boating products sold under the Panther, TROLLMaster, EZ Steer, Navigator and Angler’s Pal brands and is a large provider of boating products for the recreational angling sector.
CMP president and CEO Don Hambly says the acquisition of MarineTech continues the company’s growth in the US while simultaneously strengthening its position in the leisure marine industry.
Mr Hambly commented:
“We are very excited about the strategic fit between MarineTech and CMP and believe there are many advantages and opportunities for our customers, supply partners and our team.
“MarineTech’s customer base and product offer are a perfect complement to CMP’s growing marine business.”
Don Hambly - CEO and president of CMP
MarineTech founder Larry Grundtner will remain with the combined entity to help ensure a smooth transition and continued success.
Mr Grundtner commented:
“This is a tremendous opportunity for MarineTech and our customers,” he says. “By joining forces with CMP, we will leverage the expertise and resources of CMP to take MarineTech to the next level.”
Larry Grundtner - MarineTech founder
CMP Group has manufacturing operations in Canada, Italy, the USA and China and has a product range that extends from marine corrosion, dock products, anchoring solutions to steering and controls.
Founded in 2000, MarineTech started with a single proven product line, NAVIGATOR Engine mounted Electric Trolling Motors.
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