Genmar Holdings

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

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

• 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

1. Janssen, Peter (July 1987). "A Pastrami, and Hatteras to Go". At the Helm. MotorBoating. Retrieved 28 August 2015.
2. "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. "Genmar Sells Hatteras Yachts". Sarasota Herald-Tribune. 25 October 2001. Retrieved 28 August 2015.
5. "Brunswick Completes Acquisition of Hatteras Yachts".
6. "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.