Offshore Center Console Transaction Focuses on Growth, New Product Introductions, and Expanded Production Capacity
Fort Lauderdale, FL, August 15, 2017--Carbon Craft Inc. today announced they have acquired, through an affiliated entity, Southport Boats for an undisclosed amount. A new holding company named "Tuxedo Yachts" has been formed by Carbon Craft and Anchors Aweigh Capital to acquire luxury oriented boat businesses and will initially consist of the Carbon Craft and Southport Boat brands.
Carbon Craft sets new standards for comfort and safety in luxury yacht tenders with 30% more interior space, head-turning style, and exhilarating performance. Southport Boats are known for their legendary performance based on a special Ray Hunt hull design which combines offshore racing technology with cutting edge composite manufacturing capabilities to deliver a ride that's smooth, responsive, quiet and dry with incomparable stability.
"Carbon Craft and Southport ensure your time on the water with family and friends is both comfortable and stylish," said Skip Sorenson, Managing Partner for Anchors Aweigh Capital and CEO of Tuxedo Yachts. "We were attracted to Southport Boats by their customer passion, dealer network, and heritage of Maine-built craftsmanship. This is a unique opportunity to position these two luxury boating brands to outperform the market, deliver superior financial results and create the most memorable customer experiences."
The acquisition clarifies the ownership and capital structure of Southport Boats while providing new capital for product development and expanded production capacity, including a new production facility that has four times more space than the existing facility.
"Our dealers and customers tell us Southport boats deliver a radically different ride that's soft, aggressive and responsive," said George Menezes, VP and General Manager for Southport Boats. "Everyone on our team is excited as our innovations will continue to provide the highest fit and finish center consoles on the market."
"We're building the yacht tender you'll actually love using," said Steve French, VP and General Manager of Carbon Craft. "We ensure a distinguished arrival for the discerning buyer. Inflatable RIBs have until now been the only choice for most but the largest superyachts. Carbon Craft delivers a high-tech, more advanced approach with a hand-crafted portfolio of tenders that are lightweight like inflatables, but far more safe and comfortable for passenger and crew transport."
Tuxedo Yachts, with the assistance of Anchors Aweigh Capital, will begin raising additional capital for the acceleration of multiple new product introductions for both brands and the respective working capital requirements. Anchors Aweigh Capital will also be launching a new fund to ensure ample "dry powder" for additional brand acquisitions of companies who share a similar DNA in their go-to-market approach, luxury orientation, and focus on customer service, support, and satisfaction. Interested investors should call 877-402-6246 for more information.
About Anchors Aweigh Capital
Anchors Aweigh Capital (AAC) is an investment banking and consulting firm serving emerging growth and middle-market maritime and industrial companies in the U.S. and worldwide. AAC provides objective advice to private and public companies in the areas of mergers and acquisitions, strategy, turnarounds and restructurings, debt and equity capital raises and other advisory services focused on increasing the value of business enterprises. Anchors Aweigh Capital is headquartered in Ft. Lauderdale, FL and has offices in Dallas, TX, San Diego, CA and Portland, OR.
About Carbon Craft
Carbon Craft is a hand-crafted luxury yacht tender designed and built around comfort and safety for the most precious cargo you carry - your loved ones. Our team's cumulative knowledge of the marine industry ranging from America's Cup manufacturing technology to world class yacht design detailing, has resulted in many innovative concepts including the clever use of advanced lightweight materials like carbon fiber to optimize space, and the closed cell foam collar that provides protection, spray deflection and flotation. The result is a low-profile format that enables you to operate effortlessly, board safely, stay dry, carry everything, relax in comfort, and arrive in style.
Learn more online at www.carboncraft.com
About Southport Boats
Southport Boats, located in Augusta, Maine builds robust, quality engineered offshore center console boats on three platforms (27', 29' and 33'), and has developed a reputation as one of the premier boats in their class. The semi-production builder employs experienced and dedicated craftsmen and technicians who build high quality products in a newly acquired 70,000-square foot production facility. Southport Boats, while a production builder, caters to the demanding needs of their customers and dealers and always welcomes the challenge of custom requests as a way to further improve an already exceptional boat.
For more information, please visit www.southportboats.com
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