MasterCraft just acquired NauticStar LLC. The going price? About $79.8 million.
NauticStar was founded back in 2002 and has a 200,000-square-foot manufacturing facility at its disposal. According to Trade Only Today, NauticStar will keep its current headquarters and manufacturing facility right where it is in Mississippi.
“We are very excited to welcome NauticStar to the MasterCraft family,” MasterCraft president and CEO Terry McNew stated.“NauticStar is a well-respected, expertly built and uniquely positioned brand. The company’s outboard bay, deck and offshore center console boats provide MasterCraft with additional product diversity. They also provide MasterCraft a presence in saltwater fishing, as well as outboard propulsion, two of the fastest-growing segments in the broader boating industry.”
“MasterCraft is an iconic brand known for quality, performance and innovation,” NauticStar owner and founder Phillip Faulkner likewise stated. “Our entire organization is excited to join their team and leverage their experience and operational know-how to further grow NauticStar. This is a great opportunity for all of our employees, as well as customers and dealer partners.”
B Riley senior analyst Eric Wold shared his belief that this joining of forces will enable MasterCraft to improve output from NauticStar’s facility, while also allowing MasterCraft to bring some manufacturing of NauticStar’s boats to its own facility in Vonore, Tenn.
“As a combined organization, we have the resources and experience to greatly expand NauticStar’s distribution both domestically and internationally after satisfying the demand from the existing dealer network,” McNew said. “We look forward to working together to deliver profitable and sustainable market share growth and driving efficiency in every area of our business.”