T-H Marine makes eighth and most expensive acquisition in a decade
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T-H Marine Supplies, the US based supplier of boat parts and accessories, has made its eighth – and most expensive – acquisition in a decade.
It has added First Source, the marine accessory division of Maurice Sporting Goods, one of the largest distributors of fishing tackle in the US, and indicated that there will be more to come.
“This is our first acquisition this year, but our eighth in the last decade,” said Jeff Huntley, CEO of T-H Marine. “We will continue working on more acquisitions and more organic product development to grow our stable of brands and breadth of awesome products.We have such great customers who continue to buy and believe in us that has allowed us to achieve compound annual growth of more than 20% over the last ten years.
“We hope we can keep this up and continue to find great products and brands that are ready to be launched or taken to the next level.
“We are thrilled to complete our largest revenue acquisition to date. Our new First Source division will allow T-H Marine to expand into new product categories and continue to grow our product-based portfolio that we offer to both our OEM and after-market customer bases.
“The expertise of First Source greatly strengthens our capabilities in after-market retail and e-commerce channels for our customers. We have built a strong platform for the past 45 years that is rooted in deep relationships with our customers who depend on quality boating and fishing accessories.
“We look for great acquisitions like First Source that can really help us bring more value to our customers and continue to provide more awesome products for the boating and fishing enthusiasts who love our brands.”
Read Samples, General Manager of First Source, said: “We are blessed to be joining a longtime customer. T-H Marine is a solid, rapidly growing company that truly knows the marine and fishing accessory markets. It will allow our team to expand into more product categories, becoming more meaningful to our customers, including more OEM product opportunities.
“The T-H Marine team shares our passion for bringing innovative products to market and really taking care of our customers.”