FLIPPIN, Ark. (July 29, 2010) – Fishing Holdings, LLC, a premier manufacturer and marketer of fiberglass fishing boats owned by an affiliate of Platinum Equity, announces its acquisition of Triton Boats from Brunswick Corporation. Terms of the transaction are not disclosed.
Triton founder Earl Bentz will join Fishing Holdings and resume his role at the helm of Triton Boats. Additionally, several key members of Triton's executive management and sales representative group will remain on board the Triton team and will continue to lead the brand from their Tennessee office.
"This move creates an exciting opportunity to reenergize the Triton brand. As we move ahead we will look to our roots and to our dedication to the fishing community on which the Triton brand was founded," said Bentz. "I have been working closely with many Triton dealers since I started the company. I look forward to continuing that collaboration with our dealer base and to serving our loyal customers into the future."
Echoing Bentz's comments, Randy Hopper, President of Fishing Holdings said, "We are extremely pleased to have Earl and his senior management team join our organization. The acquisition will allow us to leverage our world-class manufacturing operations and further strengthen our unwavering commitment to fishing, boating families and competitive tournament angling."
Triton fiberglass boats will be built in Flippin, Ark. where production will begin in Fall of 2010. Brunswick will continue to manufacture Triton aluminum boats under a license agreement.
"We are excited to welcome Earl Bentz and the Triton family of dealers and customers to our team," said Louis Samson of Platinum Equity. "Investing in a high-quality brand like Triton is another opportunity to demonstrate our commitment to succeed in the industry and our focus on supporting our portfolio companies in their growth and strategic plans."
Fishing Holdings was advised by Stephens Inc. and Latham & Watkins LLP in connection with the transaction.
About Triton Boats
Triton Boats was founded in 1996 and is one of the most recognized brands in fishing. From professional, tournament-grade bass boats to multispecies rigs and saltwater vessels, Triton has been among the leaders in bringing added features and comfort to modern fishing and recreational boats. More information is available at www.tritonboats.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 over 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. More information is available at www.platinumequity.com.