Genmar Holdings

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Genmar Holdings, Inc. was the second largest manufacturer of recreational motor boats,[1] founded in 1978.[2] It was headquartered in Minneapolis, Minnesota with offices in Little Falls, Minnesota and Cadillac, Michigan.[2]

In 2009, the company filed for Chapter 11 Bankruptcy.[3]

Holdings[edit]

It owned the Aquasport, Carver Yachts, Champion Boats, Crestliner, Glastron, Hatteras Yachts, Larson Boats, Lowe Boats, Scarab Boats, Trojan Yachts, and, Wellcraft brands.[4]

Major transactions[edit]

  • In 2001, Genmar sold Hatteras Yachts to Brunswick Corporation in an $80M cash transaction.[4][5]
  • In 2010, PBH Marine Group bought 11 brands, including Ranger Boats, Stratos Boats, Champion, Wellcraft, Four Winns, Larson and Glastron out of bankruptcy for $70 million.[6]
  • Platinum Equity bought the Ranger and Stratos lines of business in February 2010.[7]
  • The Carver Yachts and Marquis Yachts assets were purchased for $6.05 million by J&D Acquisitions LLC, a company created by former Genmar owner Irwin Jacobs, along with investor John Paul DeJoria.[6]

References[edit]

  1. ^ Janssen, Peter (July 1987). "A Pastrami, and Hatteras to Go". At the Helm. MotorBoating. Retrieved 28 August 2015.
  2. ^ a b "Company Overview of Genmar Holdings, Inc". Bloomberg Business. Retrieved 26 August 2015.
  3. ^ "Genmar Holdings files for bankruptcy". Industry News. Nashville Business Journal. 4 June 2009. Retrieved 28 August 2015.
  4. ^ a b "Genmar Sells Hatteras Yachts". Sarasota Herald-Tribune. 25 October 2001. Retrieved 28 August 2015.
  5. ^ "Brunswick Completes Acquisition of Hatteras Yachts".
  6. ^ a b "Bass Pro Shops signs financing deal for Fishing Holdings" (Industry News). TradeOnlyToday. 9 July 2015. Retrieved 28 August 2015.
  7. ^ "Sale of Ranger, Stratos, Triton finalized". BassFan. 11 February 2015. Retrieved 28 August 2015.