Administrators Horton Posted June 12, 2015 Administrators Share Posted June 12, 2015 ORLANDO, FL (June 11, 2015) - Today Correct Craft announced that they have acquired a majority interest in both Centurion Boats and Supreme Boats. Both Centurion and Supreme have long and proud histories in the towed watersports segment. Centurion is the official boat of the World Wake Surfing Championships and has been since it began in 1995. Both brands, which are powered by PCM and Crusader Engines, are manufactured in Merced, California. Correct Craft also announced that both brands will continue to build their boats in Merced and that there are no plans to make any changes with company management. Rick Lee, longtime owner of Centurion Boats, acquired Supreme Boats in 2011. Lee will maintain a minority ownership interest in the brands and continue working with them in a consulting role. Lee stated, “I am proud of all the people who have worked to build the Centurion brand for over three decades. I am thrilled to have both Centurion and Supreme become part of a team that will not only continue to build our brands and legacy but also provide opportunities for our employees.” Lee added, “I am very excited about our future.” Correct Craft President and CEO Bill Yeargin stated, “We are very happy to have both Centurion and Supreme joining our family. The past few months as we have worked together to finalize this deal our mutual respect has grown and we are excited about the things we will accomplish as a team.” Yeargin added, “Our Correct Craft family has grown significantly over the past few years and we are pleased to add two new brands in the towboat segment; we plan to immediately begin working to grow both Centurion and Supreme in the global marketplace.” Goode ★ HO Syndicate ★ KD Skis ★ MasterCraft ★ PerfSki Radar ★ Reflex ★ S Lines ★ Stokes ★ Baller Video Coaching System Drop a dime in the can Link to comment Share on other sites More sharing options...
E_T Posted June 12, 2015 Share Posted June 12, 2015 Throwing around a lot of cash this year. 4 boat compines. Cable parks and production facilities expansion. Hopefully they can weather the next economic storm Link to comment Share on other sites More sharing options...
Baller ForrestGump Posted June 12, 2015 Baller Share Posted June 12, 2015 To me, this makes a lot of sense. The brands already used PCM, another Nautique company. And since neither brand really competed directly with Nautique, they don't run the risk of eroding Nautique's market share. Essentially, it's a shot at companies like Malibu. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 Their response to axis and nxt without having to do any r&d Link to comment Share on other sites More sharing options...
Baller_ Wish Posted June 12, 2015 Baller_ Share Posted June 12, 2015 Wow Link to comment Share on other sites More sharing options...
I5boi Posted June 12, 2015 Share Posted June 12, 2015 WTF? Link to comment Share on other sites More sharing options...
Baller Razorskier1 Posted June 12, 2015 Baller Share Posted June 12, 2015 I keep wondering who the financial backer is. They have spent a lot. Wondering if like Malibu and Mastercraft their is a private equity firm involved. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 According to this some company called Ambassador Enterprises http://www.google.com/finance?cid=16549945 http://ambassador-enterprises.com/who-we-are/our-companies/ Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 I wonder how much they will shape what the 2 companies boats are allowed to become. Only thing i know about Supreme is that they make some really cheap looking wake boats. Centurion wake boats have some interesting features but the dashes and controls look like they were assembled from radio shack parts. Nautique has the capability to clean up those boats and make them a lot more desirable so that they could actually compete with Axis/NXT - be interesting to see if they do. Link to comment Share on other sites More sharing options...
Baller Skoot1123 Posted June 12, 2015 Baller Share Posted June 12, 2015 This is really interesting news. I am curious to see if this affects prices on Centurion. On the opposite side of things - how are Mastercraft and Malibu going to respond to this? The way I see it - Nautique is doing some very smart financial moves to diversify - investing in engines, boats, parks - and who knows what else! Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 What is there to respond to? Malibu and Mastercraft already have their "discount" boat lines, Nautique is just catching up. In terms of diversification Malibu is building its trailers in-house for 2016. Be interesting to see how that goes, I really like the BoatMate trailers that they were using - and I own. Link to comment Share on other sites More sharing options...
Baller swc5150 Posted June 12, 2015 Baller Share Posted June 12, 2015 Maybe we'll some Carbon Pro's on dealership lots now? I can envision a sales boost if they parked one next to a much higher-priced 200. They could drop a LincII in it too while they're at it:) Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 @swc5150 - think they would dump their existing dealers to move the boats to Nautique dealers? Besides - around here that would be the invisible 200 parked next to the invisible CP since neither the local Nautique or Centurion dealers stock a single ski boat Link to comment Share on other sites More sharing options...
Baller RAWSki Posted June 12, 2015 Baller Share Posted June 12, 2015 Really interesting, not sure if selling Nautique and Centurion Wake/Surf boats in the same dealership makes sense though the prices aren't that much different are they? The Supremes might fit nicely as a budget line with some tweaking or even under a new name(s). Perhaps they are thinking like what the Pontoon makers are doing..... they build two almost identical boats with different names/graphics and slightly different features. That way two dealers in the same market can sell their products. I just hope my next Carbon Pro doesn't cost $75K! Link to comment Share on other sites More sharing options...
Baller bishop8950 Posted June 12, 2015 Baller Share Posted June 12, 2015 My understanding is Correct Craft is the parent company of Nautique, PCM, a bass boat company, a few other things and now Centurion and Supreme. As much as Nautique would like us to think they are taking over the world, it's the parent company. Looks to me CC is creating a fully inclusive line up of brands. Imagine of you go to a Correct Craft dealer and see 3 lines of ski boats, bass boats and whatever else they buy up. Having PCM and the other engine company give you more control. It will be interesting to see how CC manages the 3 ski boat sister brands. Link to comment Share on other sites More sharing options...
Baller swc5150 Posted June 12, 2015 Baller Share Posted June 12, 2015 @oldjeep I didn't think CC would dump some really great dealerships and sign with MarineMaxx either. Link to comment Share on other sites More sharing options...
Baller ALPJr Posted June 12, 2015 Baller Share Posted June 12, 2015 This makes brands like Gekko and Sanger even more attractive to me. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 @scotchipman - NXT They have an NXT20 and NXT22 which are their "cheap" alternatives to the X- line of boats. Similar to Malibu/Axis Link to comment Share on other sites More sharing options...
Baller Nando Posted June 12, 2015 Baller Share Posted June 12, 2015 What is the ownership situation at Malibu? I know Mastercraft is now owned by the Wayzata Investment Partnership, but have never known if Malibu is owned by a larger concern.. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 @Nando Malibu went public last year under the ticker MBUU Mastercraft is going public this year (or trying anyways) Correct Craft seems to be positioning themselves to go public Link to comment Share on other sites More sharing options...
Baller Nando Posted June 12, 2015 Baller Share Posted June 12, 2015 Thanks oldjeep. Maybe it's just being near MN Inboard, but Malibu seems to have the marketing nailed to survive as a publicly-held company. Link to comment Share on other sites More sharing options...
Baller oldjeep Posted June 12, 2015 Baller Share Posted June 12, 2015 @Nando Yup, I live about 5 miles from MN Inboard. Being near the biggest Malibu dealer in the country kind of skews your view of their market share ;) You don't see anywhere near the number of Mastercrafts and Nautiques and the only place I've ever seen a Centurion was at the boat show. Link to comment Share on other sites More sharing options...
Baller_ The_MS Posted June 12, 2015 Baller_ Share Posted June 12, 2015 All I know is that I was Promo CC for 10 years and everyone and there uncle wanted to ski behind my boat at tourneys but when it came to selling them, only one boat went to Minnesota buyer. Everyone owned Malibus. Link to comment Share on other sites More sharing options...
Baller ALPJr Posted June 12, 2015 Baller Share Posted June 12, 2015 I want to add to this post... This makes brands like Gekko and Sanger even more attractive to me.... Having said that The mid 90's MC and CC boats are still my favorite ski boats. Nothing the matter at all with big business, just like the idea-l of smaller mom and pop operations in our sport. Link to comment Share on other sites More sharing options...
I5boi Posted June 19, 2015 Share Posted June 19, 2015 Does this mean CP warranty items can be performed at a correct craft dealership (including ZO pucks)? Hope so as there are no centurion dealers near me. Link to comment Share on other sites More sharing options...
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