Company: Marine Products Corporation, Mastercraft
Business Type: Boat Builder
UK & International Business Sales and M&A News
MasterCraft Boat Holdings, Inc., designer and manufacturer of performance and leisure powerboats has acquired Marine Products Corporation in a cash and stock transaction valued at approximately $232.2 million, net of acquired cash.
Marine Products Corporation is a manufacturer of recreation and sport fishing powerboats. With corporate offices in Atlanta, Georgia, it designs and manufactures recreational fiberglass powerboats in the sport boat, cruiser and sport fishing markets, selling to a network of 203 domestic and 87 international independent authorised dealers. It manufactures under the brand names Chaparral and Robalo. Chaparral’s sterndrive models include SSi Sportboats and SSX Luxury Sportboats, and the GTS SURF Series. Chaparral’s outboard offerings include OSX Luxury Sportboats, the SSi Outboard Bowriders, and SSX Luxury Sportboats.
Robalo builds an array of outboard sport fishing models, which include Center Consoles, Dual Consoles and Cayman Bay Boats.
Ben Palmer, Chief Executive Officer of Marine Products, said:
“This transaction marks an exciting new chapter for Chaparral and Robalo, and is a testament to the hard work and dedication of our employees. We believe that MasterCraft will be a great steward of the combined business and an enthusiastic partner to our exceptional dealers and suppliers.
“In addition, the combination is structured to enable shareholders to continue to participate in the strength and upside potential of the combined company and benefit from a stronger institutional following.”
Ben Palmer – Chief Executive Officer of Marine Products Corporation
Headquartered in Vonore, Tennessee, MasterCraft Boat Holdings, Inc. designs, manufactures and markets recreational powerboats through its three brands, MasterCraft, Crest and Balise. Launched in 1968, it produces 14 models including the XStar Family, Prostar and NXT Family.
Brad Nelson, Chief Executive Officer of MasterCraft, commented:
“Today marks an exciting and transformational step for MasterCraft and Marine Products as we continue shaping the future of the marine industry together. We have long admired Marine Products and the success its team has achieved in creating a leading brand for recreational boaters with Chaparral and a leader in sport fishing boats with Robalo.
“Supported by both companies’ proven category leadership, the combined company will serve an expanded customer base with diversified offerings, drive differentiated innovation, and deliver greater value for dealers and consumers.”
Brad Nelson – Chief Executive Officer of MasterCraft
According to Marine Products Corporation’s press release, the combined company will benefit from a more diversified portfolio of leading brands – MasterCraft, Crest, Balise, Chaparral, and Robalo – in categories supported by advanced product development and manufacturing platforms as well as an expanded dealer network. Manufacturing facilities in Tennessee, Michigan, and Georgia are expected to enable the sharing of best practices to improve overall production efficiency, improve buying power, and provide operational flexibility for future growth.
Under the terms of the agreement, Marine Products shareholders will receive $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products they own. Based on MasterCraft’s closing share price of $23.12 on February 4, 2026, this consideration implies a value of $7.79 per Marine Products share.
The corresponding transaction value of $232.2 million represents approximately 7.2x Marine Products’ expected EBITDA for the twelve months ending June 30, 2026, after adjusting for the elimination of approximately $6 million of public company costs and corporate overhead. Upon closing of the transaction, MasterCraft shareholders will own 66.5% and Marine Products shareholders will own 33.5% of the combined company. The transaction has been unanimously approved by the Boards of Directors of both companies and the Special Committee of the Board of Directors of Marine Products. The transaction is expected to be financed through combined cash on hand.
Nelson continued:
“Like MasterCraft, Marine Products has succeeded through boating industry cycles with a disciplined approach to managing production, inventory levels, and dealer health while maintaining a robust financial profile. Together, we will be well positioned to capitalize on growth opportunities, particularly as demand for our products recovers.
“We look forward to bringing Chaparral and Robalo on board as we embark on this new chapter, build on our shared legacies of excellence, and generate value for shareholders of the combined company.”
Brad Nelson – Chief Executive Officer of MasterCraft
Upon completion of the transaction, Nelson will serve as Chief Executive Officer of the combined company, and Scott Kent, Chief Financial Officer of MasterCraft, will serve as Chief Financial Officer of the combined company. MasterCraft expects to maintain the Chaparral and Robalo leadership teams, brands and employees as a separate operating unit.
Following closing, MasterCraft’s Board of Directors will expand from seven to 10 directors and include three new directors. Roch Lambert will serve as Chair of the Board of the combined company.
The combined company will be headquartered in Vonore, Tennessee and will maintain the Chaparral and Robalo operating facilities in Nashville, Georgia.
The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both MasterCraft and Marine Products shareholders and the satisfaction of other customary closing conditions.
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