Caymas Boats promoted Todd Falk to president and chief operating officer, with Ben Dorton elevated to vice president of sales and marketing. CEO Earl Bentz praised both executives for their contributions to establishing Caymas as a respected brand in the fishboat market since 2018.
Suzuki Marine USA promoted company veteran Brandon Cerka to executive vice president of sales, marketing and service, reporting to president Daiki Sugiura. Cerka has been with the company since 2012 and will be supported by George Blakely in an advisory role.
West Marine cancelled its asset auction after receiving no qualified bids by the June 26 deadline and will proceed with recapitalization instead. The US boating and fishing retailer will convert approximately $251.2m of term loan debt into equity, with existing shareholders including L Catterton and Oaktree losing their equity as ownership transfers to lenders.
Bass Pro Shops, led by founder Johnny Morris, has agreed to acquire Cheeca Lodge, a legendary fishing resort in Islamorada, Florida. The acquisition reinforces Bass Pro's commitment to nature-based hospitality while preserving the resort's authentic character and heritage of connecting guests to the Florida Keys' natural beauty.
The U.S. Department of the Navy selected Saronic as one of seven companies for the Medium Unmanned Surface Vessel (MUSV) Marketplace at-sea testing phase. Saronic's 180-foot Marauder vessel features 25+ knot speed, 5,400 nautical mile range, and 150 metric ton payload capacity, with three additional hulls under construction at the Franklin, Louisiana shipyard.
Groupe Beneteau announced plans to close its Cadillac, Michigan facility and divest Four Winns, Glastron, and Scarab Jet brands during Q3 2026. The decision follows geopolitical challenges and structural weakness in bowriders and jet boat segments, with the three brands representing less than 5% of Group revenue.
Groupe Beneteau announced the suspension of the Wellcraft Fisherman brand production to the announced closing and planned sale of its Cadillac, Michigan facilities. The company says it will honor "all financial obligations incurred prior to the termination date, including open purchase orders and outstanding invoices.
Yamaha Motor Finance Corporation, U.S.A. closed a $400 million term securitization backed by dealer powersports and marine inventory loans, marking the company's first ABS transaction and the industry's first dealer floorplan ABS including powersports and marine receivables since 2015. The transaction received Aaa/AAA ratings from Moody's and Fitch.
West Marine Inc., the nation's leading omni-channel marine aftermarket provider, announced a Restructuring Support Agreement with key financial stakeholders including 96.2% of term loan lenders and 93.9% of equity holders. The company's 200 retail locations will remain open during restructuring, with CEO Paulee Day emphasizing commitment to serving the boating community.
MarineMax's board, led by CEO Brett McGill, agreed in April 2026 to proceed with a sale process. Activist investor Donerail Group, which owns 5% of the company, has increased its acquisition offer, while Blackstone Group is reviewing documents for a potential acquisition.
US boat retailer West Marine, controlled by Oaktree Capital Management and L Catterton, is reportedly preparing for potential Chapter 11 bankruptcy to restructure debt and close multiple locations. The Fort Lauderdale-based company operates over 230 North American stores and plans to shift toward an omnichannel retail model.
Mercury Marine, a division of Brunswick Corporation, held a groundbreaking ceremony for its new 18,000-square-foot Industrial Design Studio in Fond du Lac, Wisconsin. The state-of-the-art facility will support product design and innovation while strengthening the local community through job growth and talent attraction, with completion expected by January 2027.
Freedom Boat Club, a Brunswick Corporation business, acquired the Freedom Boat Club of Greater Boston & Cape Cod franchise, the largest in the Freedom network, adding 21 locations and a Maintenance Operations Center. Founders Matt Carrick and Matt O'Connor will remain as franchisees in other markets.
Grady-White Boats hosted House Ways and Means Committee Chairman Jason Smith and Rep. Greg Murphy to discuss how the Working Families Tax Cut legislation is driving manufacturing investments in North Carolina. The company has expanded generator capacity, production tools, and equipment while the National Marine Manufacturers Association supports the tax law for industry predictability.
Sharrow Engineering partnered with Ford Motor Company's Advanced Industrial Technology & Platforms team to scale production of the Sharrow Propeller using 3D sand-casting techniques, reducing production timelines from 130 days to approximately two weeks. The collaboration, facilitated through Michigan Central's innovation ecosystem, enables Sharrow to meet growing demand from recreational boaters, commercial operators, and government agencies.
The U.S. Navy awarded Sharrow Engineering a Phase I SBIR contract to co-develop an advanced propeller for the Mark-54 Lightweight Torpedo with Materials Sciences LLC. The patented closed-loop-blade technology aims to enhance propulsion efficiency, reduce acoustic signature, and improve hydrodynamic stability for undersea operations.
Zach Hutcheson has assumed the CEO role at Correct Craft, succeeding Bill Yeargin who led the company for 20 years. Hutcheson, previously the chief financial officer, will lead the company following a planned succession process.
Southwick Associates offers syndicated and custom research for the fishing, hunting, shooting, and outdoor recreation markets. Their products include the Hunting & Shooting Market Pulse newsletter, Angler Monitor, and Hunting & Shooting Monitor, with NSSF and ASA members receiving 15% discounts on subscription reports.
The U.S. Bureau of Economic Analysis released data showing recreational boating and fishing generated $38.4 billion in 2024, driving the $1.3 trillion outdoor recreation economy. The National Marine Manufacturers Association highlighted that 95 percent of boats sold in the U.S. are built domestically, supporting 5.2 million American jobs.
Tennessee-based Malibu Boats acquired Saxdor Yachts for approximately $175 million. Founded in Helsinki, Finland in 2019, Saxdor has delivered over 2,000 boats and operates three facilities in Finland and Poland with 800-plus employees. CEO Steve Menneto stated the acquisition supports Malibu's vision of becoming a global marine solutions provider.