MCBC Hydra Boats, which purchased Hydra-Sports from Genmar for $1 million, is a subsidiary of the same company that owns MasterCraft Boat Co., CEO John Dorton confirmed to Soundings Trade Only.
Both brands are now owned by Wayzata Investment Partners, a Minneapolis-based investment firm.
"We started out with a real interest in Hydra-Sports from the beginning. It wasn't because it was a carve-out from the other packages. It's not the first time we've considered buying Hydra-Sports, in fact we put a bid in back when it was in the OMC bankruptcy auction as well," said Dorton, who will also serve as CEO of Hydra-Sports.
Hydra-Sports began manufacturing fiberglass fishing boats just outside of Nashville, Tenn., in 1973 and was acquired by Genmar in 2001.
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Both brands are now owned by Wayzata Investment Partners, a Minneapolis-based investment firm.
"We started out with a real interest in Hydra-Sports from the beginning. It wasn't because it was a carve-out from the other packages. It's not the first time we've considered buying Hydra-Sports, in fact we put a bid in back when it was in the OMC bankruptcy auction as well," said Dorton, who will also serve as CEO of Hydra-Sports.
Hydra-Sports began manufacturing fiberglass fishing boats just outside of Nashville, Tenn., in 1973 and was acquired by Genmar in 2001.
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