Ebbtide Boats was recently sold to a privately held Chinese investment company, 321 Capital Partners. The boat manufacturer builds 18- to 28-foot sport and recreational boats out of a 150,000 square-foot facility in White Bluff, Tenn., including deck boat models.
Former Ebbtide president and owner, Tommy Trabue, says that selling the company was bittersweet, but recognized that it was time for a transition, stating that he was looking forward to continuing to work with the company as the
"Finding the right person to pass our legacy on to was extremely important to me," says Trabue. "The new owner of Ebbtide is a Chinese businessman and entrepreneur that plans to build our brand name here in the U.S. and Canada as well as developing Ebbtide into a global brand."
George Gong, spokesmen and president of U.S. operations for the privately held Chinese company that acquired Ebbtide, said that his company will be investing more money into improving the Tennessee facility following the acquisition, and produce more boats to meet customer requirements.
"We will recruit more engineers, designers, employees to produce high quality, modern and advantaged boats," says Gong.