Boat Tree plans expansion through IPO, with Regal buying stake

Article Abstract:

The Boat Tree, an Orlando, FL-based marine dealer, intends to sell 2.18 million shares of common stock in new parent, American Marine Recreation (AMR) Inc., as part of an expansion strategy. AMR wants to sell 52% of the stock through the initial public offering at prices between $8.50 and $9.50 per share. The IPO will generate $17.3 million in net proceeds at a target price of $9 per share. AMR will likely use $10.3 million of the total to pursue its expansion in southeastern US states. Orlando, FL-based Regal Marine Industries Inc., meanwhile, is expected to purchase 7.4% stake in the offering. The company, whose products covered 55% of the Boat Tree's fiscal 1997 sales, will not hold a seat on AMR's board.

Comment:

Is expected to buy 7.4% stake in The Boat Tree's sale of 2.18 mil shares of common stock in parent American Marine Recreation

Acquisitions & mergers, Organizational history, Regal Marine Industries Inc., The Boat Tree

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Engine parts come to Boating World

Article Abstract:

Stoll Engine Co. of Costa Mesa, CA, and the Boater's World division of Ritz Camera, headquartered in suburban Baltimore, MD, have inked an agreement that will allow the retail and wholesale engine parts business of Stoll Engine inside the retail outlets of Boater's world. Stoll Engine was anticipated to run stand-alone marine parts counters by the end of May 1998 in Boater's World outlets in Norfolk/Virginia Beach, VA, Miami, FL, and Glen Burnie, MD. According to Bob Carey, the general manager of Boater's World, and Mike Stoll, the president of Stoll Engine, once the idea becomes successful, Boater's World will add Stoll-run counters at other outlets.

Comment:

Signs a deal w/ Stoll Engine Co to allow Stoll's engine parts bsns in this co's stores

Strategic alliances, Other Engine Equipment Manufacturing, Outboard Motors, Stoll Engine Co., Ritz Camera Centers Inc. Boater's World Discount Marine Centers Inc.

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Lodder invests $2 million selling excitement of boating

Article Abstract:

Lodder's Marine invested $1.3 million for a 36,800-sq-ft showroom and service center on the 6.5-acre site in Cincinnati, OH. The new facility, which replaces a 5,000-sq-ft showroom at the site, has 10,000-sq-ft devoted to service, 13,000-sq-ft of main showroom space and another 12,000-sq-ft serving as a secondary showroom. With the help of a local architect, Sonny Lodder designed the new facility to have an open, inviting facility that emphasizes the fun and joy of boating. For instance, parts customers can walk past new-boat displays as the accessories department is situated at the rear of the showroom.

Comment:

Invests $1.3 mil for a 36,800-sq-ft showroom and service center on the 6.5-acre site in Cincinnati, OH

Capital expenditures, Lodder's Marine

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