FLIPPIN, Ark. - Fishing Holdings LLC, a premier manufacturer and marketer of fiberglass fishing boats owned by an affiliate of Platinum Equity, announced today the acquisition of a manufacturing facility in Flippin with the intent to launch an aluminum boat product line. Terms of the transaction were not disclosed.
The facility includes existing manufacturing space as well as office and administrative room. The company will invest $2.5 million to transition and expand the facility and plans to create more than 50 new jobs over the next several months. Production is scheduled to start up by the fourth quarter of 2012.
"The new manufacturing facility is a great addition to our portfolio and we feel this market represents an opportunity for growth moving forward," said Fishing Holdings President Randy Hopper. "The acquisition would not have been possible without the support of Governor Beebe and the state's Economic Development Commission. It's a partnership we're very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity."
About Fishing Holdings
Fishing Holdings, headquartered in Flippin, Ark., is owned by an affiliate of Platinum Equity. Fishing Holdings is the nation's premier manufacturer of fiberglass fishing boats, including the legendary Ranger, Stratos and Triton brands. More details, product information and specific offerings can be found by visiting www.rangerboats.com
About Platinum Equity
Platinum Equity is a global M&A&O® firm specializing in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, telecommunications, logistics, metals services, manufacturing and distribution. Since its founding in 1995 by Tom Gores, Platinum Equity has completed over 100 acquisitions with more than $27.5 billion in aggregate annual revenue at the time of acquisition. More information is available at www.platinumequity.com