Mar 17, 2020

CMP Acquires MarineTechOn March 9th, 2020, CMP Group Ltd, a leading manufacturer and distributor of marine products announced the acquisition of MarineTech Products, Inc. based in Vadnais Heights, MN.  MarineTech is a long standing and well-respected provider of boating products and solutions under the Panther™, TROLLMaster™, EZ Steer®, Navigator® and Angler’s Pal brands.

MarineTech continues CMP’s strategy to grow its US presence and strengthens its position in the recreational marine industry.  “We are very excited about the strategic fit between MarineTech and CMP and believe there are many advantages and opportunities for our customers, supply partners and our team” states Don Hambly, President & CEO, CMP.  “MarineTech’s customer base and product offer are a perfect complement to CMP’s growing marine business.” 

Larry Grundtner, founder and owner of MarineTech will remain with the combined entity to help ensure a smooth transition and continued success. He commented that “This is a tremendous opportunity for MarineTech and our customers.” explains Larry Graundtner.  “By joining forces with CMP, we will leverage the expertise and resources of CMP to take MarineTech to the next level.”

About CMP Group Ltd.
CMP Group, headquartered in Vancouver, BC creates products and services for the marine industry that allow people to enjoy time on and around the water.  The Company has manufacturing operations in Vancouver & Toronto, Canada; Genoa, Italy; Norfolk, USA and Ningbo, China and has a product range that extends from marine corrosion, dock products, anchoring solutions to steering and controls. CMP’s respected brands include: Martyr™ sacrificial anodes, Dock Edge +® dock & boating solutions, Rocna® & Vulcan® anchors, Titan® Marine Products, Octopus® Autopilot Drive Systems, Intellisteer® Remote Steering Systems and Seaguard® corrosion protection systems.  In 2018, Ironbridge Equity Partners, Toronto, ON acquired majority control of CMP Group.  For more information, please visit www.cmpgroup.net

About MarineTech Products Inc.
Founded in 2000, MarineTech started with a single™, TROLLMaster™, EZ-Steer®, Navigator® and Angler's Pal, offering boaters hundreds of quality, innovative products. For more information, please visit: www.marinetechproducts.com.

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Luxury Tax OppositionFollowing its seventh annual “Day on the Hill” lobby day in Ottawa last month, NMMA Canada is continuing to advocate against the federal government’s proposed 10% luxury tax on recreational boats over $100,000. History has shown that similar taxes have failed to raise the expected revenue for governments while putting thousands of rural and small-town jobs at risk. The industry believes there are other financial measures that can be applied instead of a tax that would be beneficial to government and less impactful on industry.

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