Genmar Holdings

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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]

Little Falls, Minnesota City in Minnesota, United States

Little Falls is a city in Morrison County, Minnesota, United States, near the geographic center of the state. Established in 1848, Little Falls is one of the oldest European-American cities in Minnesota. It is the county seat of Morrison County. The population was 8,343 at the 2010 census. Little Falls was the boyhood home of noted aviator Charles Lindbergh. Just across from his former home is Charles A. Lindbergh State Park, named after Lindbergh's father, prominent Minnesota lawyer and U.S. Congressman Charles August Lindbergh.

Cadillac, Michigan city in Michigan, United States

Cadillac is a city in the U.S. state of Michigan, located in Haring Township. The city is the county seat of Wexford County. The population was 10,355 at the 2010 census. The city is situated at the junction of US 131, M-55 and M-115. The geographic center of Michigan is approximately five miles (8.05 km) north-northwest of Cadillac.

Contents

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]

Carver is a yacht builder located in Pulaski, Wisconsin in the United States and a "recognized leader in the luxury motoryacht market".

Glastron

Glastron is a boat manufacturing company and was one of the first manufacturers of fiberglass boats. Bob Hammond, Bill Gaston, Bob Shoop, and Guy Woodard founded this company on October 14, 1956 in Austin, Texas. It was sold to Genmar Holdings in the 1990s and manufacturing was moved to Minnesota. Glastron is known for its boat hull design innovations, including the Aqualift and "SSV" hull designs, the latter of which is still in use today.

Scarab (boat)

Scarab is a brand of high performance power boats formerly owned by Wellcraft and currently by Rec Boat Holdings. Wellcraft still makes a line of fishing boats which are currently known as Scarab Offshore.

Major transactions

Brunswick Corporation American corporation

The Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American corporation that has been active in developing, manufacturing and marketing a wide variety of products since 1845. Today, Brunswick Corporation owns numerous leading lifestyle brands such as Mercury Marine, Life Fitness, and Hammer Strength. They also own many popular boating brands under the Brunswick Boat Group division including Sea Ray, Bayliner, Crestliner, Harris Boats, and Boston Whaler. Starting in the 1970s, the company also entered the field of arms development and manufacture. In 2015, it had sales of US$4.105 billion with net earnings of $241.4 million that year, and $276 million in 2016. Brunswick's global headquarters is in the northern Chicago suburb of Mettawa, Illinois.

Ranger Boats are a popular line of bass fishing boats designed primarily for black bass fishing. Since launching, the company has expanded their line of boats to offer recreational options as well. The company has fiberglass boats, but with the modern success of the aluminum boat on top tournament trails, unveiled an aluminum series. The company was founded in 1968 by Forrest L. Wood in Flippin, Arkansas. Ranger is generally credited with the introduction of the modern bass boat.

Stratos Boats, Inc. is a manufacturer of fishing boats and is located in Flippin, Arkansas. Formerly owned by Platinum Equity, which also owned Triton and Ranger Boats as Fishing Holdings LLS, Stratos was acquired by Bass Pro Group in December 2014. They produce a line of fiberglass boats, primarily for the U.S. bass and panfishing markets. Most of their boats are 16 ft. to 21 ft. in length.

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Outboard Marine Corporation 1998 power trim

Outboard Marine Corporation (OMC) was a maker of Evinrude, Johnson and Gale Outboard Motors boat motors and many different brands of boats. It was a multibillion-dollar Fortune 500 corporation. Evinrude began in Milwaukee, Wisconsin in 1907. OMC was based in Waukegan, Illinois. They also owned several lines of boats such as Chris Craft, Lowe Boats, Princecraft, Four Winns, SeaSwirl, Stratos, and Javelin. OMC was also a parent company to Ryan, which made lawn mowers.

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Ferretti Group Italian shipbuilding company

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Irwin L. Jacobs was an American businessman. He was the CEO of several large corporations, formerly including the now-bankrupt Genmar Holdings, which at one time was billed as the world's largest boat-building company. He earned the nickname "Irv the Liquidator" for his aggressive business practices in the 1970s and early 1980s. In 1973, Jacobs founded COMB, a catalog-based mail-order retailer. In 1986, COMB and several cable television operators created the Cable Value Network (CVN), a pioneering television shopping channel which was later purchased by Joseph Segel's QVC. Jacobs, based in Minneapolis, became wealthy by taking big stakes in Fortune 500 conglomerates, usually with the goal of unlocking value by breaking them up.

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White River Marine Group

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Trojan Yachts is (1949–present) a US manufacturer of motorboats, with offices and production facilities in Lancaster Pennsylvania, Elkton Maryland and Niagara-on-the-Lake Ontario Canada.

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References

  1. Janssen, Peter (July 1987). "A Pastrami, and Hatteras to Go". At the Helm. MotorBoating . Retrieved 28 August 2015.
  2. 1 2 "Company Overview of Genmar Holdings, Inc". Bloomberg Business . Retrieved 26 August 2015.
  3. "Genmar Holdings files for bankruptcy". Industry News. Nashville Business Journal. 4 June 2009. Retrieved 28 August 2015.
  4. 1 2 "Genmar Sells Hatteras Yachts". Sarasota Herald-Tribune. 25 October 2001. Retrieved 28 August 2015.
  5. "Brunswick Completes Acquisition of Hatteras Yachts".
  6. 1 2 "Bass Pro Shops signs financing deal for Fishing Holdings" (Industry News). TradeOnlyToday. 9 July 2015. Retrieved 28 August 2015.
  7. "Sale of Ranger, Stratos, Triton finalized". BassFan. 11 February 2015. Retrieved 28 August 2015.