Company: EB Rentals, Vision Marine Technologies
Business Type: Boat Hire, Manufacturer
UK & International Business Sales and M&A News
Vision Marine Technologies, a leading manufacturer within the electric recreational boating industry, has acquired California-based EB Rental Ltd.
EB Rental is an electric boat rental company operating at Lido Marina Village in Newport Beach. The business is a high margin, profitable and rapidly growing electric rental boat operation which will provide Vision Marine the unique opportunity to showcase its electric technology and grow its brand recognition.
Vision Marine Technologies’s business mandate is to change and be a contributing factor in fighting the problem of waterway pollution by disrupting the legacy boating industry with electric power, contributing to zero pollution, zero emission, and a noiseless environment. The business has its HQ in Canada, with sales and rental outlets across the US and Europe.
Vision Marine co-founder and CEO Alexandre Mongeon said acquiring EB Rental, which serves about 100,000 passengers annually, gives his company another avenue to showcase the brand’s e-powered craft and its E-Motion 180E outboard and powertrain system.
He commented:
“It is important to understand the strategic importance of this acquisition. EB Rental specifically, and the boat rental business in general, represents Vision Marine’s entry into a very profitable business, which will support our primary goal of becoming the number one manufacturer of electric outboard engines and powertrains globally, while showcasing our full range of industry leading products and technology.
“Vision Marine intends to acquire other boat rental companies in North America, as well as in other select regions worldwide.”
Alexandre Mongeon - Co-Founder and CEO of Vision Marine Technologies
By expanding its services to the rental industry, Vision Marine will interact with a much larger audience, while introducing recreational boaters to sustainable electric powertrain technology.
Mr Mongeon continued:
“The acquisition plays into our strategic mandate of offering eco-friendly electric solutions to consumers as well as OEMs, as we build a global footprint in the race to electrify boating and clean up waterways.”
EB Rental is planning to increase its fleet by 15 boats. The current management will continue to oversee operations, provide turnkey operational expertise, and spearhead repeatable and highly scalable plans for expansion.
Mr Monegon said the company will continue to seek acquisitions of boat rental companies both in the U.S. and beyond — with a special focus of Southern Florida — to introduce boaters to sustainable e-power.
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