WestWinn Group's Byron Bolton has completed a private stock purchase of Renaissance Marine Group, Inc., manufacturers of Duckworth, Weldcraft and Northwest Boat brands from current owners Dan Larson and Jim Moore.
WestWinn Group, Vernon, BC, manufacturers the KingFisher, Harbercraft and Jetcraft boat brands, bringing the number of heavy-gauge welded aluminum boat brands under one owner to six.
Bolton completed the transaction through a newly formed entity, RMG Holdings Company, of Seattle, Washington. "The combination of talented personnel, manufacturing technology, and broad dealer networks will enable both companies to realize their growth by competing even more effectively against larger segments and geographical markets of the marine industry,' said new owner and CEO of Renaissance Marine Group, Byron Bolton.
Reasons for the investment include improved purchasing power and production efficiencies as well as the benefits of shared research and development efforts in next-generation marine technology. The two companies now have a combined 100 dealers in five countries. "This is a move that provides employees, dealers and boat buyers more opportunities in the future,' said Bolton. "Both WestWinn and Renaissance Marine Group have led the industry in recovering from the marine recession of the past 5 years. We're stronger now than ever before. Strong enough, in fact, to compete in local, national and international markets previously considered untouchable.'
WestWinn Group and Renaissance Marine Group will continue to operate independently and maintain the continuity of the existing management teams, physical factories, highly skilled work forces and independent dealer networks.
"Renaissance and WestWinn brands remain committed to executing their business through independent marine dealers,' explained Mark Delaney, WestWinn Group's Marketing and Business Development Director. "This growing network of dealers will continue to benefit directly from the strong marketing programs and customer service support provided by both manufacturers. The integrity of the brands is further enhanced by a ‘no factory-direct sales' policy.'
Dan Larson will continue to serve as a senior advisor to both companies. Jim Moore is fully retired. Jerry Wooley will remain at his position as President and COO of Renaissance Marine Group, Inc. All existing sales, service, and support contacts will remain unchanged.