MarineMax acquires Wisconsin-based yacht manufacturer

MarineMax (NYSE: HZO), a boat and yacht retailer based in Clearwater, acquired KCS International, also known as Cruisers Yachts, headquartered in Oconto, Wisconsin.

Cruisers Yachts produces models from 33’ to 60’ feet. The company recently announced the expansion of its production capacity by purchasing a 216,000 square foot, purpose-built boat manufacturing plant in Pulaski, Wisconsin, according to a statement from MarineMax.

Cruisers navigated through the 2020 pandemic producing revenue of over $75 million, the statement said.

Cruisers’ dealer network includes Silver Seas Yachts, which was acquired by MarineMax in October 2020 and five recently added MarineMax locations.

“The strategic acquisition of Cruisers Yachts benefits our customers by filling a meaningful void in our product portfolio, which was created in 2018 by the loss of Sea Ray sport yacht and yacht models,” said W. Brett McGill, chief executive officer and president of MarineMax, in the statement. “The acquisition also aligns with our long-term strategy of expanding our gross margins by adding a higher margin business.”

Prior to the acquisition, MarineMax’s financial capacity, consisting of cash and cash equivalents, along with available borrowings under its credit facilities, exceeded $400 million. The Company paid $63 million for Cruisers including the recently acquired Pulaski, Wisconsin facility.

You May Also Like
Former Duke Energy director joins Commercial Asset Partners Realty

Danielle Ruiz, former director of economic development at Duke Energy Corp., has joined Commercial Asset Partners Realty as vice president. Ruiz brings more than 20 years of experience in economic

Read More
Danielle-Ruiz
Tampa Bay Partnership names JPMorgan Chase’s Nikky Flores as new chair

Nikky Flores, Florida region manager for middle market banking at JPMorgan Chase, has been named the new chair of the Tampa Bay Partnership. Flores succeeds Brian Auld, president of the

Read More
La Unión Residence & Social Hall opens in Ybor City’s Gasworx District

La Unión Residence and Social Hall, a multifamily redevelopment, will officially open on Nov. 2, in Ybor City’s 50-acre Gasworx District. The new complex, inspired by the historic social hall

Read More
Tampa Bay LGBT Chamber names new president and CEO, appoints board chair

The Tampa Bay LGBT Chamber has appointed Rene Cantu as its new president and chief executive officer. Cantu, a seasoned leader with over 25 years of experience in advocacy and

Read More
Other Posts
Homrich Berg expands Tampa Bay office with new leadership

Homrich Berg, an Atlanta-based registered investment adviser, has appointed Larry Parkin as principal and Florida market leader to head its new Tampa office. This is the firm’s second location in

Read More
Homrich-Tampa
Pasco EDC Announces 2025 Executive Committee Leaders

The Pasco Economic Development Council has announced the leaders of its 2025 Executive Committee for the Board of Directors. Staceyann Sinclair Jibbison, who has served on the board for seven

Read More
Staceyann-Sinclair-Jibbison
College Hunks Hauling Junk and Moving ready to take flight at Red Bull Flugtag 2024 in Tampa

College Hunks Hauling Junk and Moving has been selected to participate in the 2024 Red Bull Flugtag event on Nov. 9, 2024, in Tampa. Out of more than 1,000 applicants,

Read More
Veteran cloud expert joins Trofeo as COO

Trofeo, a cloud services company specializing in Microsoft Azure, has named Greg Pierce its new chief operating officer. Pierce will oversee daily operations and lead the company’s development of cloud

Read More