PURSUIT BOATS HAS BEEN ACQUIRED BY MALIBU BOATS
Birmingham, Michigan – October 16, 2018 – Angle Advisors is pleased to announce that S2 Yachts, Inc. (“S2”) has sold the assets of Pursuit Boats (“Pursuit”) to Malibu Boats, Inc. (“Malibu”). Angle Advisors acted as the exclusive investment banking advisor to S2 in completing this transaction.
Based in Fort Pierce, FL, Pursuit is a leader in the saltwater outboard fishing boat market through its offering of 15 models of offshore, dual console and center console boats. The saltwater outboard fishing market is one of the largest and fastest growing segments in the marine industry. Pursuit’s premium market position has been established over its 41-year history through a reputation for superior quality, performance and customer service. For more information, please visit www.pursuitboats.com.
“As a leader in the saltwater outboard fishing segment, Pursuit is an incredible addition to the Malibu family. The Pursuit brand maintains a strong reputation for luxurious appointments, innovation, and premium quality, and this highly complementary business creates strong strategic opportunities to enhance product development across our portfolio of brands. Together, we have an opportunity to broaden our outboard offering, while leveraging the manufacturing and design expertise of the respective teams to continue to deliver the premium products customers expect,” commented Jack Springer, Chief Executive Officer of Malibu.
“Over the past 41 years, Pursuit Boats has established a premium brand through our incredible dealer network and longstanding commitment to our customers. As a trailblazer in its own right, Malibu is an ideal partner, as we maintain similar cultures with a shared passion for product and people, which has driven our collective long-term success. This transaction is as much about the right partner to steward Pursuit’s future as it is about the sale price. Malibu is that right partner. The Slikkers family will continue to own and operate Tiara Yachts and Tiara Sport under the S2 Yachts umbrella and we are excited about that,” said Tom Slikkers, Chief Executive Officer of S2. He continued, “We would like to thank the team at Angle Advisors for doing an outstanding job guiding our family through this process and helping find us the ideal partner for Pursuit. Their knowledge and transaction expertise proved critical to making this a highly successful transaction for all parties.”
Based in Loudon, Tennessee, Malibu Boats, Inc. is a leading designer, manufacturer and marketer of a diverse range of recreational powerboats, including performance sport boats, sterndrive and outboard boats. Malibu Boats has the #1 market share position in the United States in the performance sport boat category through its Malibu and Axis Wake Research brands. Also, Malibu Boats has the #1 market share position in the United States in the 24’ – 29’ segment of the sterndrive category through its Cobalt brand. Since inception in 1982, Malibu Boats has been a consistent innovator in the powerboat industry, designing products that appeal to an expanding range of recreational boaters and water sports enthusiasts whose passion for boating and water sports is a key aspect of their lifestyle. For additional information, visit the Company's website at www.malibuboats.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the industrial and vehicular sectors. The firm's professionals have completed 196 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.