J&D Acquisitions, the company launched by Irwin Jacobs and John Paul DeJoria, has acquired the Larson, Seaswirl, Triumph and FinCraft boat brands from Project Boat Holdings, LLC, an affiliate of Platinum Equity.
In a press release dated January 21, the company announced it has agreed to purchase several former Genmar assets, including the Larson, Seaswirl, Triumph and FinCraft boat brands; the Larson Boat factory in Little Falls, MN; the Triumph plant in Durham, NC; plus the molds, equipment, property and inventories associated with each brand. The agreement also includes the VEC Technology Inc. company located in Greenville, PA, and all of its property, plant, equipment, inventory, patents and copyrights worldwide, assets of Windsor Craft, plus several other additional miscellaneous properties.
In a telephone interview with Boating Business, Irwin Jacobs, chairman of J&D Acquisitions, confirmed “We've agreed to the transaction, which is planned to close by the end of next week. We hope to recall most of the laid-off Larson employees.”
“This is all we have planned for the meantime to acquire,” added Jacobs. “We have nothing else pending at this time.”
J&D Acquisitions is a partnership owned by Mr. John Paul DeJoria and the Jacobs Trading Company, LLC, headquartered in Hopkins, MN. JTC is a worldwide closeout wholesaler of consumer products that has 10 operations and locations throughout the United States and offices in Shanghai, China.