Malibu Boats Completes Acquisition of Pursuit Boats
Loudon, TN | October 15, 2018 – Malibu Boats, Inc. (MBUU),
Malibu Boats, Inc., a leading global manufacturer of recreational fiberglass boats, announced that it has closed the acquisition of Pursuit Boats. Plans for the acquisition were announced back in August. Comprised already of Malibu, Axis Wake Research, and Cobalt boat brands, Pursuit joins Malibu Boats, Inc. to expand into the fast-growing saltwater outboard fishing market.
“As a leader in the saltwater outboard fishing segment, Pursuit is an incredible addition to the Malibu family. Over the past 41 years, Pursuit Boats has established a premium brand through its incredible dealer network and longstanding commitment to customers. With Pursuit, 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, CEO of Malibu Boats, Inc.
The saltwater outboard fishing market is one of the largest and fastest growing segments in the marine industry. With the #1 market share position in the United States in the performance sport boat category through its Malibu and Axis Wake Research brands and the #1 market share position in the United States in the 24’ – 29’ segment of the sterndrive category through its Cobalt brand, Malibu Boats, Inc. is now poised to offer the premium Pursuit brand with 15 models of offshore, dual console and center console boats.
Loudon, TN | August 22, 2018 – Malibu Boats, Inc. (MBUU),
Stay in the Know:
Malibu Boats, Inc. announced today that is has entered into a definitive agreement with S2 Yachts, Inc. to acquire Pursuit Boats.
-Pursuit Boats is a premium brand positioned in one of the largest and fastest growing segments in the marine industry.
-This acquisition will broaden Malibu’s offerings, diversify markets, and boost growth.
-With the ability to leverage manufacturing, design expertise, and distribution, we will be able to accelerate Pursuit’s outboard growth.
-This transaction is expected to close in the fourth calendar quarter of 2018, and it’s anticipated to be immediately accretive to earnings in FY19, excluding purchase accounting and acquisition costs.
Getting to know Pursuit Boats:
Pursuit Boats, located in Fort Pierce, Florida, is a leader in the saltwater outboard fishing boat market through its offering of 15 models. The saltwater outboard fishing market is one of the largest and fastest growing segments in the marine industry, where Pursuit’s premium market position has been established over its 41-year history. For the trailing twelve months ended June 30, 2018, Pursuit generated approximately $124 million in net sales.
“Pursuit Boats stands for innovation, premium quality, and continues to be a leader in the saltwater fishing segment. This identity is directly parallel to Malibu and Cobalt so we are excited for this new opportunity and brand partner as we enter into the saltwater outboard segment,” commented Jack Springer, CEO of Malibu Boats.
“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,” said Tom Slikkers, Chief Executive Officer of S2 Yachts.