Would have never ever guessed a pontoon boat company would be worth a million dollars let alone $805 Million. Earlier this month as reported on Business Wire and many other financial news sites Polaris Industries Inc. Completed the acquisition of Boat Holdings, LLC. The boating market has changed dramatically over the last decade and after the incredible struggles of the 2008/2009 deep recession, boating has rebounded incredibly well and seems to be going nowhere but up, with outboards, pontoons, and center consoles leading the way. On the horizon be ready for more alternative designs with propulsion systems that are looking toward hybrid and full electric power.
MINNEAPOLIS–(BUSINESS WIRE)– Polaris Industries Inc. (NYSE:PII) today announced that it has completed the previously announced acquisition of Boat Holdings, LLC (“Boat Holdings”), a privately held boat manufacturer, in an all-cash transaction valued at a net present value (“NPV”) of approximately $805 million. Boat Holdings offers a full lineup of pontoon, deck and cruiser boats through its recognized brands of Bennington, Godfrey, Hurricane and Rinker.
As previously announced, Boat Holdings will operate as a distinct business unit led by current Boat Holdings’ Chief Executive Officer Jake Vogel and will report to Bob Mack, president of Global Adjacent Markets and senior vice president of Corporate Development and Strategy at Polaris.
Goldman Sachs & Co. LLC acted as financial advisor to Polaris; and Simpson, Thacher & Bartlett LLP acted as Polaris’ legal advisor. Stephens Inc. acted as Boat Holdings’ financial advisor and Jones Day acted as legal advisor to Boat Holdings.
Polaris Industries Inc. (NYSE:PII) is a global powersports leader that has been fueling the passion of riders, workers and outdoor enthusiasts for more than 60 years. With annual 2017 sales of $5.4 billion, Polaris’ innovative, high-quality product line-up includes the RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; the Sportsman® and Polaris ACE® all-terrain off-road vehicles; Indian Motorcycle® midsize and heavyweight motorcycles; Slingshot® moto-roadsters; snowmobiles; and pontoon, deck and cruiser boats. Polaris enhances the riding experience with parts, garments and accessories, along with a growing aftermarket portfolio, including Transamerican Auto Parts. Polaris’ presence in adjacent markets globally include military and commercial off-road vehicles, quadricycles, and electric vehicles. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. Visit www.polaris.com for more information.