Godfrey Marine and Rinker Boat Co. Merge, Creating Fourth Largest Pleasure Boat Manufacturertitle
Dealers, Customers to Benefit From Diverse Portfolio of Leading Brands
ELKHART, Ind., Nov. 17 /PRNewswire/ -- Godfrey Marine and Rinker Boat
Company today announced they have merged to form the fourth largest pleasure
boat manufacturer in the U.S. Headquarters for the combined companies will be
at Godfrey Marines Elkhart, Ind., location. Terms of the transaction were
not disclosed.
The new company will market nine major brands, all of which are market
leaders. They include Rinker express cruisers and Captiva runabouts;
Godfreys Hurricane deck boats; Aqua Patio, Sanpan, Sweetwater, Parti Kraft
and Tuscany pontoon boats; Polar Kraft aluminum fishing boats and Polar
fiberglass fishing boats. The combined companies boats are sold by more than
525 dealers nationwide and in 22 countries.
"Both Rinker and Godfrey have strong traditions of independence and
commitment to relationships with employees, dealers, and suppliers," said Bob
Deputy, President of Godfrey Marine. "Combining these two industry leaders
offers significant benefits including, diverse and comprehensive product
lines, state of the art manufacturing facilities and a reputation for
industry-leading products."
"Joining forces with Godfrey is a natural strategic fit for Rinker.
Together, we bring extensive boating industry experience and an exceptional
track record as independent companies delivering innovation, value and
service," said Bob Moran, CEO of Rinker. "Combining our respective strengths
enables us to fulfill growth opportunities that will meet a wide cross-section
of boating lifestyle needs."
Headquartered in Elkhart, Ind. since 1903, Godfrey Marine is the largest
family-owned independent builder of recreational and fishing boats in the U.S.
Godfrey operates eight manufacturing facilities in Elkhart, as well as an
aluminum boat plant in Syracuse Ind., and fiberglass boat plants in Benton,
Ill. and Vinemont, Ala.
Godfrey introduced the first aluminum pontoon boat in 1958 and their
Sanpan, Aqua Patio, Sweetwater and Parti Kraft brands have consistently been
recognized as No. 1 or No. 2 in industry retail sales. Hurricane pioneered
the deck boat concept and has long been recognized as the No. 1 builder of
deck boats, based on retail registrations.
Founded in 1945 by the Rinker family, and headquartered in Syracuse, Ind.,
Rinker Boat Co. enjoys a category leading position in express cruisers and
runabouts with 16 models from 19 to 43 feet.
The combined companies offer dealers and consumers a choice of MerCruiser
or Volvo Penta inboard/outboard power or outboard motor brands Evinrude,
Honda, Johnson, Mercury, Suzuki or Yamaha.
The merged companies comprise a partnership between the private equity
firm of Code Henessy & Simmons LLC (CHS) and Godfrey Marines senior
management group, Bob, Bill and Larry Deputy who will retain a significant
equity ownership in the new entity. The Deputy family, which has owned
Godfrey since 1953, will continue in key executive roles in the new entity as
will members of Rinkers senior management team.
For more about Godfrey Marine: http://www.godfreymarine.com
For more about Rinker: http://www.Rinkerboats.com
For more about Code Henessy Simmons (CHS): http://www.chsonline.com
