Private equity group acquires top US fishing boat builder
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A private equity group has announced the acquisition of All Craft Marine, the owner of one of North America’s top fishing boat manufacturers.
Sorfam Capital announced the deal, which was concluded last month, that includes Century Boats, the maker of a full line of saltwater craft.
Century Boats will be headed by President and CEO, Lloyd R. ‘Skip’ Sorenson, Sorfam Capital’s Managing Partner and a fourth generation shipbuilder who has been involved in a large number of merger and acquisition transactions throughout his career.
Founded in 1926, Century Boats is one of the oldest businesses in the United States. With over 10,000 vessels produced in its 95-year history, the brand is known for its high quality offshore and inshore fishing boats.
“I am thrilled to be part of such an esteemed company with such an impressive heritage as Century Boats,” said Sorenson. “With an infusion of capital, our existing dealer’s sales efforts and a new leadership team, we intend to grow the business by implementing market-moving initiatives, introducing new and refreshed products, expanding our dealership network to new regions and providing best-in-class customer service.’
Bryan Lucas, former President of Century Boats, has been made Senior Vice President of Sales and Dealer Relationships. He said: “We have been working with Anchors Aweigh Capital – the broker of the deal – for 18 months. Its ideas and support have been instrumental in building backlog and positioning us for this next growth phases. We could not be more excited.”