ELKHART — A local company and the sixth largest manufacturer of boats in the country is for sale. Nautic Global Group announced Monday at a companywide meeting a plan and time frame for the selling of the company’s operating business units, according to a news release.
“This has been a lengthy process that started in April of this year,” said Jim Malone, chairman and CEO, in the release. “Although we had hoped for a quicker resolution, we are confident that we are coming to the end of the process. I feel strongly the brands associated with NGG will be a great platform for the right owner.”
NGG currently dominates about 50 percent of the combined outboard and stern drive segments of the boat market with its Hurricane deck brand, according to the release. The company’s Godfrey Pontoon brands are also leaders in the pontoon industry.
Copyright © 2024, South Bend Tribune