June 5, 2018

Benington Pontoon Boat Polaris IndustriesBennington Pontoon boat, Courtesy of Polaris

According to Business Wire, on May 30, 2018 Polaris Industries Inc. (NYSE: PII) (“Polaris”) announced that it has signed a definitive agreement to acquire Boat Holdings, LLC (“Boat Holdings”), a boat manufacturer owned by the Vogel family, management and Balmoral Funds, in an all-cash transaction valued at a net present value (NPV) of approximately $805 million. Polaris also expects that approximately $100 million NPV of future net tax benefits will accrue to the combined Company. When adjusted for the net tax benefit of $100 million, the transaction is valued at approximately $705 million. The 2017 Boat Holdings EBITDA multiple including the expected net tax benefits is approximately 9.5 times. The transaction is expected to close in the third quarter of 2018 and is subject to customary closing conditions.

“We look forward to Boat Holdings’ best-in-class management team and skilled and experienced workforce joining the Polaris family. Together, we believe we can increase shareholder value driven by ongoing innovation and growth, as we further leverage their unique position within the large and growing boating industry.”

Boat Holdings is the largest manufacturer of pontoon boats in the U.S., one of the largest and fastest growing segments in the marine industry. With a full offering of pontoon, deck and cruiser boats, Boat Holdings’ four recognized brands – Bennington, Godfrey, Hurricane and Rinker – are strategically positioned with over 200 base models across a range of price points and fully-custom built options. Boat Holdings leverages an asset-light manufacturing model, and offers boats through a robust network of dealers primarily in the United States and Canada. In 2017, Boat Holdings generated approximately $560 million in sales.

“Boat Holdings is renowned for innovation and quality and we are excited to have them become part of our portfolio of industry-leading powersports vehicles. This transaction epitomizes our disciplined growth strategy of entering attractive markets where we can establish and extend our leadership position. In addition to market share leadership, Boat Holdings expands Polaris’ footprint in the recreational outdoors market, commanding more of consumers’ discretionary spending. Our product lineup will offer options to be enjoyed on the roads, trails, sand, dirt, snow and water,” said Polaris Chairman and Chief Executive Officer Scott W. Wine. “With their passion to create premium products and experiences, Boat Holdings is a strong cultural fit with Polaris as well, sharing our commitment to quality, innovation, safety, flexibility and efficiency. Further, Boat Holdings’ long-term relationships with its national dealer network speaks to the brand’s strength with both dealers and consumers.”

“Over the past 20 years, Boat Holdings has established premier brands synonymous with innovation and quality through its broad portfolio of boats, unmatched dealer network and commitment to our customers. With similar cultures, both businesses share the same passion for product and people, which has driven both our and their long-term success. As a trailblazer in its own right, Polaris is the perfect partner as we look to drive continued expansion and growth in this attractive segment,” said Boat Holdings Chairman Steve Vogel.

Wine concluded: “We look forward to Boat Holdings’ best-in-class management team and skilled and experienced workforce joining the Polaris family. Together, we believe we can increase shareholder value driven by ongoing innovation and growth, as we further leverage their unique position within the large and growing boating industry.”

  • Prev
CCEOC Inc. and Boating Industry Canada News Week Digest are pleased to announce the winners of this ...
It was a standing room crowd at the NMMA Canada State of the Recreational Boating Industry ...
CCEOC Inc. and Boating Industry Canada News Week Digest are pleased to announce the winners of this ...
Celebrating its 65th Anniversary, the Toronto International Boat Show is back as an in-person ...
Interactive Online Courses * ABYC instructor leads LIVE online sessions with Q&A * Recordings ...
Opening January 20 – 29, 2023, Canada’s premier boating marketplace returns as an in-person show at ...
There are hundreds of systems on modern day boats. The ABYC Systems certification teaches you how ...
The Vancouver International Boat Show will be celebrating its 60th edition when it returns in just ...
SUR/TECH is ABYC's popular virtual event providing continuing education for marine surveyors, ...
Register now to avoid disappointment. NMMA Canada's State of the Industry Breakfast on ...

Boating Industry Canada News Week

 

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you're looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here

 

 

 

 

 

Marine Products

  • Prev
SmartPlug Systems, the leading manufacturer of safety-focused shore power equipment, has enhanced ...
The enhanced battery is the first lithium-ion starting battery to be evaluated and approved for use ...
As boat buyers walk the aisles of the 2023 Miami International Boat Show, they'll view one of the ...
Plentiful drink holders have become expected amenities on today's boats but can be tricky to ...
The need for onboard web connectivity has become commonplace—for both vessel systems and passengers ...
Whether playing a downloaded collection of songs or streaming a favorite music channel, it's common ...
Garmin has announced their new ECHOMAP™ UHD2 series chartplotters that offer anglers premium ...
While few would go back to the days of outdoor fabrics with laces and buttons, zippers and snaps ...
Exposed to UV rays and windborne dirt and salt, even a late-model boat can appear old and worn-out ...
The roof of a vehicle has always been a popular place to carry kayaks, canoes, paddleboards and ...

 

Garmin ECHOMAP UHD2Garmin has announced their new ECHOMAP™ UHD2 series chartplotters that offer anglers premium features like Ultra High-Definition sonar, preloaded Garmin Navionics+™ mapping with an included one-year subscription to daily map updates, wireless networking for data sharing and support for Garmin’s award-winning LiveScope™ live-scanning sonar.

Available with a 6”, 7” or 9” bright, sunlight-readable touchscreen display with keyed assist, anglers can easily control and operate the functions they depend on for a successful day on the water, including zooming in or out on the map or quickly toggling between different sonar views.

Read More


 

People

  • Prev
CORK/ Sail Kingston Inc is a highly motivated organization with a challenging mission – to host ...
Dave Mayhew, President of The Boat Warehouse is pleased to announce that Andy Lindsay  joined ...
Effective January 1, 2023, Jim Wielgosz has been named Interim Executive Director for NMMA Canada. ...
As part of the Let's Go Beyond! plan and the structuring of the House of Brands, the Groupe ...
We are saddened to share the news of Gerry Huck’s passing, peacefully with his family at his side ...
C-Tow Marine Assistance Ltd., which has been serving and assisting recreational boaters across ...
Ernie Saxton has joined Hutchings Marine as their new Purchasing/Technical Support person effective ...
Airmar Technology Corporation (Airmar) was saddened to announce on October 27th, that its Vice ...
Can-Am Sales Group, LLC., is pleased to announce that outdoor industry professional Sophie ...
On October 23rd, Canadian Boat Shows announced two New Staff members join the Toronto Boat Show ...

C-Tow Marine Assistance appoints Jill Noel to Manager of Operations

Jillian Noel

C-Tow Marine Assistance Ltd., which has been serving and assisting recreational boaters across Canadian waterways for more than 35 years, has announced the appointment of Jill Noel to Manager of Operations, effective January 2, 2023. 

In her new role, with an overall goal of building the C-Tow brand across Ontario and throughout Canada, Jill will be responsible for managing the day-to-day operations including digital marketing and social media initiatives, company representation at national and local industry events, managing the C-Tow captains, and liaising with marinas, yacht clubs, and marine associations.

Read More