Elkhart Boat Maker Acquires Another

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The Nautic acquisition will add diversity to Bennington's offerings, which currently focus on the pontoon market. The Nautic acquisition will add diversity to Bennington's offerings, which currently focus on the pontoon market.
ELKHART -

Two Elkhart-based boat manufacturers have announced a merger. Bennington Marine is acquiring Nautic Global Group in a deal expected to close next month.

Bennington's focus is on the pontoon industry and it has been family-owned since its founding in 1997. Chairman Steve Vogel says "Nautic Global Group is an industry pioneer and has some of the best known, most trusted brands in the industry - brands that resonate strongly with consumers and are well-positioned for future growth, while exceeding the high expectations Nautic has continually set for its products and services. We have always respected what the company has accomplished and believe Bennington is the ideal partner to help take the Nautic business to the next level. We look forward to working closely with Nautic's world class management team to make the transition as efficient and seamless as possible for employees, vendors and dealers."

Nautic's portfolio includes: Aqua Patio, Sweetwater, SanPan, Hurricane, Rinker, Godfrey and PolarKraft. Bennington says it plans to operate the Nautic brands and businesses as a "separate entity." Nautic Chairman and Chief Executive Officer Jim Malone says "this represents a big win for our employees, dealers and customers. We're pleased that the company is being acquired by one of the most highly regarded companies in the boating industry."

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