MINNEAPOLIS, Minn. — Polaris Industries has completed its acquisition of Boat Holdings LLC, a privately held boat manufacturer, in an all-cash transaction valued at a net present value of approximately $805 million. Boat Holdings offers a full lineup of pontoon, deck and cruiser boats through its recognized brands of Bennington, Godfrey, Hurricane and Rinker.
As previously announced, Boat Holdings will operate as a distinct business unit led by current Boat Holdings’ CEO Jake Vogel and will report to Bob Mack, president of Global Adjacent Markets and senior vice president of Corporate Development and Strategy at Polaris.
Goldman Sachs & Co. LLC acted as financial advisor to Polaris; and Simpson, Thacher & Bartlett LLP acted as Polaris’ legal advisor. Stephens Inc. acted as Boat Holdings’ financial advisor and Jones Day acted as legal advisor to Boat Holdings.
SOURCE: Polaris Industries Inc. press release