Looking for a buyer.
With operations in the United States and Europe, this company has a unique niche with its proprietary manufactured products and exclusive national and international distributorship product lines. It is the world’s number one supplier in several product categories. The company has 40+ years of experience in the industry, is highly profitable, and is adding products regularly. Manufactured products represent 56% of the U.S. company’s revenue, 49% of the European company’s revenue, and 63% of its Gross Profit, while direct- to-consumer sales represent 27%. The management believes that it is the only company of this size with a complete line of quality boat operations-focused products for its market. They serve boating customers worldwide, including sailboats, motorboats, and commercial vessels (tugboats, fishing boats, tour boats, fast ferries, etc.), with no customer or supplier concentration. Growth can come from new product lines and geographic expansion. They have statistics showing how adding salespeople or distributors to a market can lead to significant sales increases. With 37% of boat owners being new ones in the last two years, there is immense potential for retrofitting and improvements of boats that were in storage or yards. They also serve the commercial boat market and there are non-marine applications for their top proprietary products. Their current and planned facilities have efficient production and warehouse space, and a long-term lease is available. They have been able to retain highly dedicated, motivated long-term employees, and have very low turnover. The second-tier management team is in place, and one of the two owners will remain on board for an extended period of time, while the other will remain available on an as-needed basis.
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