Towboat builder diversifies into fishing, outboard propulsion
Vonore, Tennesee-based towboat manufacturer MasterCraft announced last week it has acquired Amory, Mississippi-based fishing boat manufacturer NauticStar for approximately $79.8 million.
The deal gives MasterCraft a new presence in the fishing and outboard propulsion markets, two of the fastest-growing segments in the boating industry
Founded in 2002, NauticStar builds a range of deck boats, bay boats and center consoles. The sale includes its 200,000 square-foot manufacturing facility and access to its established network of approximately 70 dealers. In 2016, the company sold $63.7 million worth of boats and is expected to approach $80 million in net sales for 2017.
“We are very excited to welcome NauticStar to the MasterCraft Family. NauticStar is a well-respected, expertly built and uniquely positioned brand,” said Terry McNew, MasterCraft’s president and CEO. “NauticStar’s year-over-year unit growth is among the strongest in the 18-28 foot category and demand domestically currently exceeds supply. We look forward to leveraging our industry-leading strengths in operational excellence and financial management to further improve NauticStar’s output, quality and margin as we continue their rapid growth.”