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Author Topic:   Brunswick Buys Another Boat Builder: TRITON

jimh posted 05-31-2005 11:12 PM ET (US)
Brunswick announced today that it has acquired Triton Boat Company, makers of fiberglass bass and saltwater fishing boats and aluminum fishing boats. The Triton factories will remain in Aberdeen, Mississippi and Ashland City, Tennessee. Triton employs approximately 600 people and makes boats ranging from 12 to 35 feet. Triton’s sales were approximately $156 million in 2004.
Earl Bentz, Triton’s founder, will continue as president of the Triton division of Brunswick. Bentz will also become a Brunswick spokesperson for dealer development and alignment, industry matters, and fishing activities.
Brunswick CEO George W. Buckley said, “We are pleased to welcome Earl Bentz back to the Brunswick fold. Long a leader and an innovator within the boating community, Earl began his marine career more than 30 years ago as a race boat driver for Brunswick’s Mercury Marine Group. Earl’s dedication to enhancing the fishing experience, his adherence to top quality, and his introduction of new marine technologies are a complement to our ideals and objectives at Brunswick.”
The financial arrangements of the sale were not disclosed.
LHG posted 05-31-2005 11:28 PM ET (US)
Earl Bentz seems to have come full circle, as for years he owned Stratos Bass boats, closely affiliated with OMC.
In 1990 he expanded his line, and brought out some of the worst, cheapest, poorest built offshore boats I have ever seen up close, with factory rigged with Evinrudes, all that you could get.
A friend bought one of these overweight 8800# dogs, a 26 Walkaround, with twin Evinrude 1990 3.0 liter 200's, hull #4. Boat and engines were nothing but a nightmare. The boat was extremely wet and unstable offshore, and it almost sank 10 miles off Key West, having ZERO flotation. Now the boat is sitting out rotting from disuse and rusted out, non-running engines. He has been trying to get $4000 for it, no takers. Meanwhile, my one year older 25 Outrage is purring right along, thank you, still looking like a new, modern boat. He paid 40% less for this package than what my 25 cost, and got 4000% less value for his money.
I hope the Triton boats are lot better than that Stratos center console/walkaround line.
David Pendleton posted 05-31-2005 11:45 PM ET (US)
Triton enjoys a fairly-good reputation here in Minnesota.
When I first encountered them, they were known as 'Walleye Boats' (as opposed to 'Bass Boats', whatever that means), and were well-regarded.
jimh posted 05-31-2005 11:50 PM ET (US)
TRITON boats received higher owner satisfaction scores than BOSTON WHALER boats in the most recent J. D. POWER survey of new boat purchasers, ranking second only to top-rated Grady-White in the coastal fishing boat segment. Whaler was fifth.
Cf.: http://www.jdpa.com/studies_jdpower/pressrelease3.asp?ID=2005018
bsmotril posted 06-01-2005 09:26 AM ET (US)
Tritons are considered one of the premium bay boat lines along the TX gulf coats. I've craweled all over one at a boat show, and thought it to be very well made and high quality. Shallow water fishing is one of the fastest growing boat market segments along the Gulf. So this looks like a good opportunity to get more Mercs on more transoms. Maybe whaler will leverage the talent at Triton and come out with a good shallow water boat like their imitators (GulfCoast / TranSport) have done using whaler style hulss. BillS
bluewaterpirate posted 06-01-2005 10:28 AM ET (US)
They already use Mercury power on their existing hulls. C quite a few around Morehead City with both Opti & Verado power. Good riding well built boat.
Tom
Landlocked posted 06-01-2005 01:49 PM ET (US)
Triton boats are a favorite around here, perhaps because the Ashland City facility is only about 20 miles north. I know the Tennessee Wildlife Resources Agency uses their center console models as patrol boats. Very nice looking craft.
Ll.
jimh posted 07-29-2010 09:41 PM ET (US)
Brunswick announced today [about FIVE YEARS LATER] it has sold TRITON boats. They posted the following notice on their website:
-----
Brunswick Sells Triton Boats to Fishing Holdings, LLC; Exploring Strategic Alternatives for Trophy
LAKE FOREST, Ill., July 29, 2010
Brunswick Corporation (NYSE: BC) today announced that it has sold Triton Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity. Terms of the transaction were not disclosed.
"This decision was part of our ongoing strategic review to further refine our product portfolio and best focus our resources on those brands and marine segments that we believe are core to our success going forward," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "As such, Brunswick will maintain its leadership position in the recreational and fishing boat markets, with a strong presence in the freshwater and sportfishing segments as well as leading brands in the runabout/cruiser and yachts segments."
In connection with this transaction, production of Triton fiberglass boats will be relocated from Ashland City, Tenn., to Flippin, Ark. Lund fiberglass manufacturing will be moved to the Brunswick Boat Group's (BBG) Tellico fiberglass boat manufacturing facility in Vonore, Tenn., while Trophy fiberglass fishing boats will continue to be built in Ashland City through the remainder of the year as Brunswick evaluates strategic alternatives for the brand.
Brunswick will retain rights to certain intellectual property and other rights to Triton aluminum boats, and will continue to sell those models under license as part of Brunswick's aluminum portfolio. These boats will continue to be built at BBG's Lebanon, Mo., aluminum manufacturing facility. BBG's Cypress Cay pontoon boats, which are manufactured in Ft. Wayne, Ind., and carried by many Triton dealers, are not affected by this transaction.
Brunswick's Mercury Marine unit will continue supplying propulsion systems to Triton and Fishing Holdings' other brands.
As a result of these actions, Brunswick said it estimates that the associated restructuring charges could total between $18 million to $20 million, pretax, of which $15 million was recorded in Brunswick's second quarter financial results.
"These decisions, while strategic in nature, are never easy or without difficult consequences," McCoy concluded, "but they are nevertheless required by business realities, and are no reflection upon the dedication and expertise of the men and women at the Ashland City facility."
jimh posted 07-29-2010 09:45 PM ET (US)
While the price paid when bought or the price paid when sold has not been disclosed, there is some speculation that the best description of this five year ownership is "buy high, sell low."
Marlin posted 07-29-2010 10:26 PM ET (US)

quote:
Trophy fiberglass fishing boats will continue to be built [...] as Brunswick evaluates strategic alternatives for the brand.
Huh. Been nice knowing you, Trophy.
-Bob
jimh posted 07-30-2010 09:07 AM ET (US)
The one-line comment in the press release regarding a future decision with TROPHY does seem to be foreboding. It sounds like the TROPHY brand may be headed for the side of the road.
hauptjm posted 07-30-2010 10:26 AM ET (US)
Interesting development! Brunswick Corporation (NYSE: BC) today announced that it has sold Triton Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity. Terms of the transaction were not disclosed.
Platinum Equity was the savior of Genmar in their bankruptcy process, by acquiring the entire suite of Genmar assets and divesting certain assets immediately afterward. These guys are no slouch in the public to private and divestiture game. I wonder, is Fishing Holdings, LLC associated with Irwin Jacobs?
I'm not casting dispersion on any Brunswick boat lines, but typically the most valuable/marketable/sellable product line is divested first(usually)in this sort of transaction. Meaning: Boston Whaler is not their most valuable asset. I'm not sure if I'm surprised at that or not!
Either way, it will be interesting to see if shareholder pressure increases to a point where expensive to manufacture, lower profit margined product lines are divested from the company's portfolio. Of course, this is pure speculation!
Tohsgib posted 07-30-2010 11:23 AM ET (US)
Since Whalers are sold at Costco, will Trophy's be sold at K-Mart? I still can't believe that crap company is selling close to $17/sh. Should be $1.70.
WT posted 07-30-2010 02:03 PM ET (US)
Then short it.
cgodfrey posted 07-30-2010 02:18 PM ET (US)
Whatever became of Mr. Earl Bentz, as mentioned in the 2005 announcement?
Tohsgib posted 07-30-2010 02:38 PM ET (US)
He's selling boats at K-Mart ;)
Nails posted 07-30-2010 07:13 PM ET (US)
While the price paid when bought or the price paid when sold has not been disclosed, there is some speculation that the best description of this five year ownership is "buy high, sell low."
Words to live by. I know I have.
jimh posted 07-30-2010 09:10 PM ET (US)
I think Mr. Bentz is still President of Triton Boats.
TRITON Boats were highly regarded boats before Brunswick bought them. I don't know if five years of ownership by Brunswick caused the TRITON brand to acquire any tarnish. Tune in to this discussion in five years to find out.

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Author	Topic: Brunswick Buys Another Boat Builder: TRITON
jimh	posted 05-31-2005 11:12 PM ET (US) Brunswick announced today that it has acquired Triton Boat Company, makers of fiberglass bass and saltwater fishing boats and aluminum fishing boats. The Triton factories will remain in Aberdeen, Mississippi and Ashland City, Tennessee. Triton employs approximately 600 people and makes boats ranging from 12 to 35 feet. Triton’s sales were approximately $156 million in 2004. Earl Bentz, Triton’s founder, will continue as president of the Triton division of Brunswick. Bentz will also become a Brunswick spokesperson for dealer development and alignment, industry matters, and fishing activities. Brunswick CEO George W. Buckley said, “We are pleased to welcome Earl Bentz back to the Brunswick fold. Long a leader and an innovator within the boating community, Earl began his marine career more than 30 years ago as a race boat driver for Brunswick’s Mercury Marine Group. Earl’s dedication to enhancing the fishing experience, his adherence to top quality, and his introduction of new marine technologies are a complement to our ideals and objectives at Brunswick.” The financial arrangements of the sale were not disclosed.
LHG	posted 05-31-2005 11:28 PM ET (US) Earl Bentz seems to have come full circle, as for years he owned Stratos Bass boats, closely affiliated with OMC. In 1990 he expanded his line, and brought out some of the worst, cheapest, poorest built offshore boats I have ever seen up close, with factory rigged with Evinrudes, all that you could get. A friend bought one of these overweight 8800# dogs, a 26 Walkaround, with twin Evinrude 1990 3.0 liter 200's, hull #4. Boat and engines were nothing but a nightmare. The boat was extremely wet and unstable offshore, and it almost sank 10 miles off Key West, having ZERO flotation. Now the boat is sitting out rotting from disuse and rusted out, non-running engines. He has been trying to get $4000 for it, no takers. Meanwhile, my one year older 25 Outrage is purring right along, thank you, still looking like a new, modern boat. He paid 40% less for this package than what my 25 cost, and got 4000% less value for his money. I hope the Triton boats are lot better than that Stratos center console/walkaround line.
David Pendleton	posted 05-31-2005 11:45 PM ET (US) Triton enjoys a fairly-good reputation here in Minnesota. When I first encountered them, they were known as 'Walleye Boats' (as opposed to 'Bass Boats', whatever that means), and were well-regarded.
jimh	posted 05-31-2005 11:50 PM ET (US) TRITON boats received higher owner satisfaction scores than BOSTON WHALER boats in the most recent J. D. POWER survey of new boat purchasers, ranking second only to top-rated Grady-White in the coastal fishing boat segment. Whaler was fifth. Cf.: http://www.jdpa.com/studies_jdpower/pressrelease3.asp?ID=2005018
bsmotril	posted 06-01-2005 09:26 AM ET (US) Tritons are considered one of the premium bay boat lines along the TX gulf coats. I've craweled all over one at a boat show, and thought it to be very well made and high quality. Shallow water fishing is one of the fastest growing boat market segments along the Gulf. So this looks like a good opportunity to get more Mercs on more transoms. Maybe whaler will leverage the talent at Triton and come out with a good shallow water boat like their imitators (GulfCoast / TranSport) have done using whaler style hulss. BillS
bluewaterpirate	posted 06-01-2005 10:28 AM ET (US) They already use Mercury power on their existing hulls. C quite a few around Morehead City with both Opti & Verado power. Good riding well built boat. Tom
Landlocked	posted 06-01-2005 01:49 PM ET (US) Triton boats are a favorite around here, perhaps because the Ashland City facility is only about 20 miles north. I know the Tennessee Wildlife Resources Agency uses their center console models as patrol boats. Very nice looking craft. Ll.
jimh	posted 07-29-2010 09:41 PM ET (US) Brunswick announced today [about FIVE YEARS LATER] it has sold TRITON boats. They posted the following notice on their website: ----- Brunswick Sells Triton Boats to Fishing Holdings, LLC; Exploring Strategic Alternatives for Trophy LAKE FOREST, Ill., July 29, 2010 Brunswick Corporation (NYSE: BC) today announced that it has sold Triton Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity. Terms of the transaction were not disclosed. "This decision was part of our ongoing strategic review to further refine our product portfolio and best focus our resources on those brands and marine segments that we believe are core to our success going forward," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "As such, Brunswick will maintain its leadership position in the recreational and fishing boat markets, with a strong presence in the freshwater and sportfishing segments as well as leading brands in the runabout/cruiser and yachts segments." In connection with this transaction, production of Triton fiberglass boats will be relocated from Ashland City, Tenn., to Flippin, Ark. Lund fiberglass manufacturing will be moved to the Brunswick Boat Group's (BBG) Tellico fiberglass boat manufacturing facility in Vonore, Tenn., while Trophy fiberglass fishing boats will continue to be built in Ashland City through the remainder of the year as Brunswick evaluates strategic alternatives for the brand. Brunswick will retain rights to certain intellectual property and other rights to Triton aluminum boats, and will continue to sell those models under license as part of Brunswick's aluminum portfolio. These boats will continue to be built at BBG's Lebanon, Mo., aluminum manufacturing facility. BBG's Cypress Cay pontoon boats, which are manufactured in Ft. Wayne, Ind., and carried by many Triton dealers, are not affected by this transaction. Brunswick's Mercury Marine unit will continue supplying propulsion systems to Triton and Fishing Holdings' other brands. As a result of these actions, Brunswick said it estimates that the associated restructuring charges could total between $18 million to $20 million, pretax, of which $15 million was recorded in Brunswick's second quarter financial results. "These decisions, while strategic in nature, are never easy or without difficult consequences," McCoy concluded, "but they are nevertheless required by business realities, and are no reflection upon the dedication and expertise of the men and women at the Ashland City facility."
jimh	posted 07-29-2010 09:45 PM ET (US) While the price paid when bought or the price paid when sold has not been disclosed, there is some speculation that the best description of this five year ownership is "buy high, sell low."
Marlin	posted 07-29-2010 10:26 PM ET (US) quote: Trophy fiberglass fishing boats will continue to be built [...] as Brunswick evaluates strategic alternatives for the brand. Huh. Been nice knowing you, Trophy. -Bob
jimh	posted 07-30-2010 09:07 AM ET (US) The one-line comment in the press release regarding a future decision with TROPHY does seem to be foreboding. It sounds like the TROPHY brand may be headed for the side of the road.
hauptjm	posted 07-30-2010 10:26 AM ET (US) Interesting development! Brunswick Corporation (NYSE: BC) today announced that it has sold Triton Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity. Terms of the transaction were not disclosed. Platinum Equity was the savior of Genmar in their bankruptcy process, by acquiring the entire suite of Genmar assets and divesting certain assets immediately afterward. These guys are no slouch in the public to private and divestiture game. I wonder, is Fishing Holdings, LLC associated with Irwin Jacobs? I'm not casting dispersion on any Brunswick boat lines, but typically the most valuable/marketable/sellable product line is divested first(usually)in this sort of transaction. Meaning: Boston Whaler is not their most valuable asset. I'm not sure if I'm surprised at that or not! Either way, it will be interesting to see if shareholder pressure increases to a point where expensive to manufacture, lower profit margined product lines are divested from the company's portfolio. Of course, this is pure speculation!
Tohsgib	posted 07-30-2010 11:23 AM ET (US) Since Whalers are sold at Costco, will Trophy's be sold at K-Mart? I still can't believe that crap company is selling close to $17/sh. Should be $1.70.
WT	posted 07-30-2010 02:03 PM ET (US) Then short it.
cgodfrey	posted 07-30-2010 02:18 PM ET (US) Whatever became of Mr. Earl Bentz, as mentioned in the 2005 announcement?
Tohsgib	posted 07-30-2010 02:38 PM ET (US) He's selling boats at K-Mart ;)
Nails	posted 07-30-2010 07:13 PM ET (US) While the price paid when bought or the price paid when sold has not been disclosed, there is some speculation that the best description of this five year ownership is "buy high, sell low." Words to live by. I know I have.
jimh	posted 07-30-2010 09:10 PM ET (US) I think Mr. Bentz is still President of Triton Boats. TRITON Boats were highly regarded boats before Brunswick bought them. I don't know if five years of ownership by Brunswick caused the TRITON brand to acquire any tarnish. Tune in to this discussion in five years to find out.