MarineMax acquires US boatbuilder

USA
4th May 2021

MarineMax acquires US boatbuilder

boatbuilding company
Business Type: Boat Builder, Boat Sales

Leading boat and yacht retailer MarineMax has acquired its first boatbuilding company, the US-based Cruisers Yachts.

The acquisition of KCS International, parent company of boatbuilding company Cruisers Yachts, is a move to fill a gap in its product portfolio in the sport yacht segment – a significant shift in its business model.

Florida-based MarineMax has boatbuilding interests in China with the Aquila catamaran brand, but the Cruiser acquisition represents its first move into the established US boatbuilding sector.

Cruisers Yachts, with its HQ in Wisconsin, manufacturers premium yachts, ranging from 33ft-60ft. Due to demand, Cruisers recently announced the expansion of production capacity by purchasing a 216,000sq ft, purpose-built boat manufacturing plant in Pulaski, Wisconsin, which will allow the builder to more than double its capacity over time.

Brett McGill, CEO and President of MarineMax, commented:

With over 100 years of heritage, Cruisers successfully navigated through the 2020 pandemic, producing revenue of over $75m with an established dealer network, including SkipperBud’s and Silver Seas Yachts, which were acquired by MarineMax in October 2020, plus five recently added MarineMax locations. Combined, MarineMax accounts for nearly half of Cruisers’ revenue on an annual basis.

Mark Pedersen, President of Cruisers Yachts, will join the MarineMax team and continue to lead the operations of Cruisers and its more than 350-strong team.

He commented:

The company paid $63m for Cruisers, including the recently acquired Pulaski, Wisconsin facility. The acquisition is expected to be accretive in the full first year.

About MarineMax About Cruiser Yachts

Comments

No comment yet.

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisment
Advertise with M&M