1978 recreational motor boat manufacturer
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]