Malibu Boats Acquires Pursuit Boats

Malibu Boats, Inc., a global manufacturer of recreational fiberglass boats, has announced that it has closed the acquisition of Pursuit Boats.

Total consideration for the transaction is $100 million, which was paid with $50 million of cash on hand and $50 million of borrowings under an incremental revolving credit facility that was added to Malibu’s existing credit facility.

"As a leader in the saltwater outboard fishing segment, Pursuit is an incredible addition to the Malibu family. Over the past 41 years, Pursuit Boats has established a premium brand through its incredible dealer network and longstanding commitment to customers. With Pursuit, we have an opportunity to broaden our outboard offering, while leveraging the manufacturing and design expertise of the respective teams to continue to deliver the premium products customers expect," commented Jack Springer, Chief Executive Officer of Malibu Boats.

Pursuit offers 15 models of offshore, dual console and center console boats.