MINNEAPOLIS--(BUSINESS WIRE)--Quazar Capital Corporation announces that their client, Clearwater Marine, the Saint Cloud, Minnesota based parent company of Weeres Industries & Palm Beach Marinecraft, has sold its pontoon division to Premier Marine of Wyoming, Minnesota.
Weeres Industries and Palm Beach Marinecraft make up the pontoon division of Clearwater Marine. Weeres Industries was formed in 1952 by Ambrose Weeres, known as "Mr. Pontoon" for his invention of the modern day pontoon boat. Palm Beach Marinecraft was established in 1957 and has grown to be a leading pontoon boat brand name.
Premier Marine is a family owned and operated company located in Wyoming, Minnesota. Premier Marine designs, builds and markets luxury pontoons. Its acquisition of Clearwater Marine's pontoon division will allow a broader selection of boat offerings and further increase its share in the pontoon market.
Weeres Industries and Palm Beach Marinecraft will continue to run as independent businesses and operate out of their existing facility in New Ulm, Minnesota.
For more information on Weeres Pontoons and Palm Beach Pontoons, please visit their websites at www.weeres.com and www.palmbeachmarine.com.