Alumacraft sold!

[leech~~]

Alumacraft Boat Co., the maker of aluminum boats based in St. Peter, Minn., has been purchased by Corinthian Capital Group LLC, a private equity firm headquartered in New York.

I would say that if you want a Alumacraft boat in the next year or two you may want to buy one now before this take over equity company squeezes all the profits out of it and leaves it for dead!

[SkunkedAgain]

I hope that this doesn't kill the customer service that I essentially pre-paid for!

[TR21HP]

It's the same situation Ranger and Stratos boats have been under for the last few years and it hasn't seemed to hurt their customer service the least bit.

[tori's dad]

Here it is- the beginning of the end for Alumacraft- history repeats itself time and again.

[leech~~]

It's the same situation Ranger and Stratos boats have been under for the last few years and it hasn't seemed to hurt their customer service the least bit.

I think customer service is the least of things to worry about. These equity companies buy up other companies and ring the profit out of them. Then try and resell whats left. We should just hope that the boats are going to be made at all down the road!

[FM_Mike]

With the economy the way it has been over the past 5 years and boat sales suffering, it was only a matter of time before this type of thing occurs.

I think that Brunswick made the right move in consolidating its operations and for the time being staying viable. I think it would be hard for any independent boat manufacturer to make it in this economy. Sad statement is that the family owned recreational business's in this economy will continue to struggle.

Watch for more to come, disposable income is not what is was 5 to 10 years ago, and the cost to build a quality boat continues to rise.

I hope Alumacraft can battle through this....

Mike

[delcecchi]

Better sold to private equity than in Bankruptcy and liquidation.

Also the president and owner died in 2010 so there were probably estate issues.

Here is a notice....

06/16/2010

We are sorry to report that on Monday we received a letter from Alumacraft telling us that its president and owner Dave Benbow died last week. Dave oversaw the greatest development of the company and during the last decade before the recession it consistently built and sold over 10,000 aluminum boats per year. Those tremendous unit sales made it one of the top-selling boat brands in the country year after year. Alumacraft with Dave Benbow at the helm built 46 different models of fresh water fishing boat, more different models of jon boats than we could ever count, and canoes. Alumacraft is a family-owned business and has big plans for the future.

[Capt. H (Ret.)]

I have owned 3 Alumacrafts and you don't need to worry about customer service on a new boat. I have a 2002 Trophy and have never had an issue with it. Same Same with a new 1990 that I kept for 10 years. I think it is all in the dealer which I have a good one.

Mike

[Valv]

We are confident the new partnership will improve the brand overall.

The family of the owner wanted to sell, to divide the equity.

[delcecchi]

We are confident the new partnership will improve the brand overall.

The family of the owner wanted to sell, to divide the equity.

That's what I figured when I noticed the death announcement. There may also have been death tax issues, depending on the ownership setup.

[CJH]

That's what I figured when I noticed the death announcement. There may also have been death tax issues, depending on the ownership setup.

That's very true. Lots of business this size that are privately owned often take out fairly large life insurance policies, just to pay the taxes. Kind of sad.

Hopefully they keep everything going and running the way it should be.

[BrandonN]

I dont think Alumacraft has anything to worry about. They sell many boats and there are some very brand loyal customers, they have a great quality and fit and finish. Price wise there not the cheapest nor the most expensive they have a nice fit.

I wouldnt worry about Alumacraft, if anything its for the best and will make the company stronger