Genmar Holdings, Inc. was the second largest manufacturer of recreational

motor boats A motorboat, speedboat or powerboat is a boat that is exclusively powered by an engine. Some motorboats are fitted with inboard engines, others have an outboard motor installed on the rear, containing the internal combustion engine, the gea ...

, founded in 1978. It was headquartered in

Minneapolis, Minnesota Minneapolis () is the largest city in Minnesota, United States, and the county seat of Hennepin County. The city is abundant in water, with thirteen lakes, wetlands, the Mississippi River, creeks and waterfalls. Minneapolis has its origins ...

with offices in

Little Falls, Minnesota Little Falls is a city in Morrison County, Minnesota, United States, near the geographic center of the state. Established in 1848, Little Falls is one of the oldest European-American cities in Minnesota. It is the county seat of Morrison County. ...

and

Cadillac, Michigan Cadillac ( ) is a city in and county seat of Wexford County in the U.S. state of Michigan. The population was 10,371 at the 2020 census, which ranks it the third most-populated city in the Northern Michigan region after Traverse City and Alp ...

. In 2009, the company filed for

Chapter 11 Bankruptcy Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whe ...

Holdings

It owned the Aquasport,

Carver Yachts Carver was a yacht builder located in Pulaski, Wisconsin in the United States. Their models ranged from 18 feet to 57 feet. History Carver Yachts was founded in 1954 in Milwaukee, Wisconsin when Charles "Charlie" Carter and George Verhagen starte ...

, Champion Boats, Crestliner,

Glastron Glastron is a boat manufacturing company and was one of the first manufacturers of fiberglass boats. Glastron is owned by Rec Boat Holdings, a subsidiary of Groupe Beneteau. Bob Hammond, Bill Gaston, Bob Shoop, and Guy Woodard founded the compan ...

Hatteras Yachts Hatteras may refer to: * ''The Adventures of Captain Hatteras'', the novel by Jules Verne * Hatteras Networks, a North Carolina-based telecommunications equipment provider * Hatteras Indians, the Roanoke-Hatteras Indian tribe Places: * Hatte ...

, Larson Boats,

Lowe Boats The Brunswick Boat Group, headquartered in Knoxville, Tennessee, United States, is the largest maker of pleasure boats in the world. The company's net sales were US$1.7 billion in 2008, and US$1.0 billion in 2012. The Boat Group makes Sea Ray, Bayl ...

, Scarab Boats, Trojan Yachts, and,

Wellcraft Wellcraft LLC is a major manufacturer of American powerboats. It was founded in 1955, making wooden runabouts. The company slogan is, "Own the offshore". Acquisitions In 1982, Wellcraft purchased California Yachts from the Marshall Boat Company a ...

brands.

Major transactions

* In 2001, Genmar sold

Brunswick Corporation Brunswick Corporation, formerly known as the Brunswick-Balke-Collender Company, is an American corporation that has been developing, manufacturing and marketing a wide variety of products since 1845. Today, Brunswick has more than 13,000 employ ...

in an $80M cash transaction. *In 2010, PBH Marine Group bought 11 brands, including

Ranger Boats Ranger Boats are a popular line of bass fishing boats designed primarily for black bass fishing. Since launching, the company has expanded their line of boats to offer recreational options as well. The company has fiberglass boats, but with the mod ...

, Stratos Boats, Champion, Wellcraft, Four Winns, Larson and Glastron out of bankruptcy for $70 million. *Platinum Equity bought the Ranger and Stratos lines of business in February 2010. *The Carver Yachts and Marquis Yachts assets were purchased for $6.05 million by J&D Acquisitions LLC, a company created by former Genmar owner Irwin Jacobs, along with investor

John Paul DeJoria John Paul Jones DeJoria (born April 13, 1944) is an American entrepreneur, self-made billionaire and philanthropist best known as a co-founder of the Paul Mitchell line of hair products and The Patrón Spirits Company. Due to his personal car ...

References

{{reflist American boat builders Defunct companies based in Minnesota Holding companies of the United States Holding companies established in 1978