Platinum Equity Portfolio Company Ranger Boats Announces Expansion: Company Will Invest $13 Million and Create 100+ Jobs

FLIPPIN, Arkansas (October 13, 2010) – Fishing Holdings, the parent company of Ranger Boats, the nation’s largest manufacturer of premium fiberglass fishing boats, today announced the expansion of its manufacturing facility in Flippin, Arkansas. The company will invest $13 million to retool, transition and expand its facilities, which will create more than 115 new jobs. The additional jobs will increase total employment at the manufacturing facility to approximately 540 people.

“We’re very fortunate to have a world-class manufacturing facility that’s home to such wonderful employees and some of the industry’s strongest brands,” said Randy Hopper, President of Fishing Holdings, which includes legendary brands Ranger, Stratos and Triton Boats.  “The progress we’ve made recently would not have been possible without the support of Governor Beebe and the state’s Economic Development Commission.  It’s a partnership we’re very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity.”

The company has focused a great deal of effort over the last several months integrating the production of Stratos Boats, including the Champion brand, into its facility in Flippin.  After its recent acquisition of the Triton brand, the company began transitioning the production of Triton Boats into the Flippin, AR facility as well – signaling another boost to manufacturing volume and a visible need for expansion and additional employees. 

“Ranger Boats is an Arkansas institution and a brand respected worldwide,” said Governor Mike Beebe. “We are excited to see the company’s continued growth and thank Ranger for this show of confidence in North Arkansas and its people.”

Founded in 1968 by Flippin, AR native Forrest L. Wood, Ranger Boats quickly became a household name among outdoorsmen and women across the country.  What began as a small operation – building six boats in its initial year out of what is now City Hall in downtown Flippin – has grown to a world-class manufacturing operation responsible for the most powerful brands in the marine industry. The current facility, located on Hwy 178 North near Bull Shoals Lake, has grown and evolved over the years and stands ready to expand once again. 

“The Arkansas Economic Development Commission has been a proactive agency and a great help to the economy of Marion County in this case,” said Marion County Judge Pete Giles.  “We’re grateful to see them step in and support a company that’s been such a vital part of our community for so long.  And by creating more than 115 new jobs, this is a huge boost to the local economy.”  

Fishing Holdings is owned by an affiliate of Platinum Equity, which acquired Ranger and several other boat brands, including manufacturing facilities in Michigan, in February 2010.

Additional information, including employment opportunities, can be found online at www.rangerboats.com.

About Fishing Holdings
Fishing Holdings, headquartered in Flippin, Ark., is owned by an affiliate of Platinum Equity. Fishing Holdings is the nation’s premier manufacturer of fiberglass fishing boats, including the legendary Ranger, Stratos and Triton brands.  More details, product information and specific offerings can be found by visiting www.rangerboats.com, www.stratosboats.com and www.tritonboats.com.

About Platinum Equity
Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed more than 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition.