Platinum Equity has recently announced the acquisition of numerous boat brands and their related assets from Genmar Holdings, Inc. The transaction was completed under Section 363 of the U.S Bankruptcy Code and was approved by the U.S Bankruptcy Court within the District of Minnesota on January 13, 2010.

Included in the acquisition were Stratos, Wellcraft, Glastron, Ranger, Stratos and Four Winns boat brands, transportation equipment and related real estate assets, and manufacturing facilities along with related operations located in Cadillac, Mich., Flippin, Ark., and Murfreesboro, Tenn.

Transition and Support

According to Louis Samson, the principal at Platinum heading the investment, the brands acquired have loyal customer bases, rich heritages, and opportunities to grow despite the challenges facing the boating industry at this time.  With Platinum’s strong track record regarding support of companies facing difficult transitions, the company anticipates and looks forward to putting the acquired brands on a path leading to long-term growth and greater profitability.  Additionally, the boat brands will be backed by Platinum Equity, a company with extensive operational resources and a several billion dollar capital base. tagheuerformula.