Genmar Holdings Explained

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.

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.
• Platinum Equity bought the Ranger and Stratos lines of business in February 2010.^[6]
• 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.^[7]

Notes and References

1. News: Janssen. Peter. A Pastrami, and Hatteras to Go. 28 August 2015. At the Helm. MotorBoating. July 1987.
2. Web site: Company Overview of Genmar Holdings, Inc.. Bloomberg Business. 26 August 2015.
3. News: Genmar Holdings files for bankruptcy. 28 August 2015. Industry News. Nashville Business Journal. 4 June 2009.
4. News: Genmar Sells Hatteras Yachts. 28 August 2015. Sarasota Herald-Tribune. 25 October 2001.
5. Web site: Brunswick Completes Acquisition of Hatteras Yachts. 2015-08-28. 2016-03-05. https://web.archive.org/web/20160305134037/http://www.thefreelibrary.com/Brunswick+Completes+Acquisition+of+Hatteras+Yachts.-a080601943. dead.
6. News: Sale of Ranger, Stratos, Triton finalized. 28 August 2015. BassFan. 11 February 2015.
7. News: Bass Pro Shops signs financing deal for Fishing Holdings. 28 August 2015. Industry News. TradeOnlyToday. 9 July 2015.