Soundings Trade Only Today continues to publish more information regarding the Genmar Auction and as previously reported former Genmar CEO Irwin Jacobs landed one of the companies in the auction.
From Trade Only Today:
California-based Platinum Equity has purchased "essentially all the assets" of Genmar Holding's assets for $70 million, chief restructuring officer Mark Sheffert confirmed to Soundings Trade Only.
Genmar founder Irwin Jacobs, who along with a partner purchased the Carver and Marquis brands, said he still hopes to own additional brands Platinum Equity purchased, but were not part of the group's original bid.
Platinum purchased a total of 11 brands, Sheffert said. These include: Ranger, Stratos, Champion, Wellcraft, Four Winns, Larson, Glastron and others.
Carver and Marquis were purchased for $6.05 million by J & D Acquisitions, LLC, which is a company created by Jacobs, along with John Paul DeJoria.
MCBC Hydra Boats, a subsidiary of Wayzata Investment Partners, purchased HydraSports for $1 million, Sheffert said.
More information will be forthcoming.
