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WakeWorld Discussion Board » >> Boats, Accessories & Tow Vehicles Archive » Archive through January 14, 2005 » MasterCraft Buyout?? « Previous Next »
By Matt Cour (mcsammamish) on Saturday, December 04, 2004 - 11:39 am:    Edit Post Delete Post
OK, I don't want to beat a dead horse, but I know the MasterCraft dealer meeting just happended and was wondering if some MasterCraft people could give us the scoop on whats happening. Did Brunswick buy masterCraft or has any money changed hands? Any info would be appreciated.
By bsflower (tcluv85) on Saturday, December 04, 2004 - 12:18 pm:    Edit Post Delete Post
I just called my Mastercraft sources and they tell me this is still a false rumor. They are still owned and operated by the mgmt team.

I wonder why does this keep coming up?

By Matt Cour (mcsammamish) on Saturday, December 04, 2004 - 3:07 pm:    Edit Post Delete Post
Thanks Laci, I know that there was something happening. Sources and well informed people who would know more than your average person were talking about it and mentioned that money may have changed hands but I never got any for sure info. I asked a friend who is associated with MC and he knew nothing. I thought after the dealer meeting they had this week someone might be able to give us all a straight detailed answer. I'm sure something started this whole thing but why who knows.

If you're wondering, I'm not trying to stir up anything, just was hoping that there me more answers out there after this week. I think everyone is pretty interested in MC in one or another.

I notice on your bio, that you're without a boat??? What up? Hope the outcome was satisfactory for you. Talk to you later.

By matt (supraman) on Saturday, December 04, 2004 - 9:10 pm:    Edit Post Delete Post
I'm awfully sure that Brunswick has NOT purchased Mastercraft.
By midwesty (midwesty) on Sunday, December 05, 2004 - 11:56 am:    Edit Post Delete Post
isnt Brunswick a bowling manufacturer??all down hill from here
By Psyclone (cyclonecj) on Sunday, December 05, 2004 - 2:12 pm:    Edit Post Delete Post
They used to be owned by Coleman. Yeah, sleeping bags, etc.
By Pat Borowski (bambamski) on Sunday, December 05, 2004 - 2:25 pm:    Edit Post Delete Post
Those of you that aren't that bright (mid west and Psyclone lol) Brunswick is the largest boat manufacturer in the world.

Headquartered in Knoxville, Tennessee, the Brunswick Boat Group is the largest maker of pleasure boats in the world. 2003 net sales were $1.6 billion. The Boat Group makes Sea Ray, Bayliner, Maxum, Hatteras, Meridian and Sealine pleasure boats from 16 to 100 feet; Baja high-performance boats from 20 to 44 feet; Boston Whaler and Trophy offshore fishing boats from 13 to 32 feet; and Crestliner, Lowe, Lund and Princecraft fishing, deck and pontoon boats from 10 to 26 feet. Land ‘N’ Sea, marine parts and accessories distribution and Attwood marine parts manufacturer, are also part of the Brunswick Boat Group.

By Darren Yearsley (ralph) on Sunday, December 05, 2004 - 2:29 pm:    Edit Post Delete Post
Also Mercruiser?
That would be great, Brunswick buys MC & ditchs Indmar in favor of Mercruiser. I can hear the cringing now.

(Message edited by ralph on December 05, 2004)

By matt (supraman) on Sunday, December 05, 2004 - 4:05 pm:    Edit Post Delete Post
Like I said......
By Brit Rider (brit_rider) on Sunday, December 05, 2004 - 5:05 pm:    Edit Post Delete Post
ok, the deal is basically brunswick and MC have nothing between them at all. this is fact.

this rumour all came from the fact that MC uses the same financial agency as Brunswick, when they need extra cash on their books they turn to the same place. thats it so far as i hear.

By Psyclone (cyclonecj) on Sunday, December 05, 2004 - 7:36 pm:    Edit Post Delete Post
Going from a little, privately held company to a conglomerate is never a good thing, I sincerely hope that is not happening to MC.
By Monster Tower (monstertower) on Sunday, December 05, 2004 - 8:15 pm:    Edit Post Delete Post
Brunswick has balls
By Zedz Dead (ktm250) on Monday, December 06, 2004 - 7:13 am:    Edit Post Delete Post
MasterCraft was not sold to was sold to another Wall Street investment group just like the last one. The management group was able to secure more ownership in this latest purchase.
By JK (justridin) on Monday, December 06, 2004 - 9:35 am:    Edit Post Delete Post
Does anyone know the history of ownership and management changes at MasterCraft over the last decade? The most recent management group seems to be the most successful.
By SoCalrider (magellan) on Monday, December 06, 2004 - 2:56 pm:    Edit Post Delete Post
Who cares?
By Big Ed (big_ed_x2) on Monday, December 06, 2004 - 4:06 pm:    Edit Post Delete Post
MC owners care!!
By jeff 2 (waterdog2) on Monday, December 06, 2004 - 6:47 pm:    Edit Post Delete Post
If brunswick buys MC, can I put MC logo's on my bayliner?
By Zedz Dead (ktm250) on Tuesday, December 07, 2004 - 6:22 am:    Edit Post Delete Post
The managment group has not changed only the finacial partner has. John, Scott and the rest are still owners (with a larger share this time) and have full control of the day-to-day operation.
By Fredrik Broen (fbroen) on Tuesday, December 07, 2004 - 6:34 am:    Edit Post Delete Post
So those are the ones we should plead and beg to do away with the pickle forks? ;-) Wait, don't tell me, there are more of those coming...
By Zedz Dead (ktm250) on Tuesday, December 07, 2004 - 12:05 pm:    Edit Post Delete Post
Fredrik, fear not...the new 230/X30 has a standard bow configuation. As you are no doubt aware the 245/X45 is a pickle fork bow.
By Fredrik Broen (fbroen) on Tuesday, December 07, 2004 - 12:12 pm:    Edit Post Delete Post
Cool, thanks for X30 info, that is good news IMHO. But to be honest, I am the most fearful of a pickle X2...
By Fredrik Broen (fbroen) on Tuesday, December 07, 2004 - 12:16 pm:    Edit Post Delete Post
And reading into it a bit too much I am sure, I wasn't put at easy by a factory rep's answer/expression when asked that question...
By Matt Cour (mcsammamish) on Tuesday, December 07, 2004 - 12:59 pm:    Edit Post Delete Post
Thanks Zedz, I thought there had to someone with an answer.

Fredrick, what if the 245 and the X45 replace the 230 and X-30? Is that's what's going to happen?

By Pat Borowski (bambamski) on Tuesday, December 07, 2004 - 1:04 pm:    Edit Post Delete Post
Fredrik did hear something about the X-2 changing? I'd be pissed if it did as I just bought a 05.

I like the pickle fork, have you ever ridden in one? tons of room up front. Best bow in the boating world imo.

By Fredrik Broen (fbroen) on Tuesday, December 07, 2004 - 2:05 pm:    Edit Post Delete Post
Like I said, I am probably reading to much into the facial expression and lack of push back of a factory rep when pressed on the issue.

Yes, have been in (and behind) the X-Star. This boat is not targeted at me. I don't care much about a large bow, not a big fan of the look of the fangs and am not interested in the ladder. But hey, if it sells, who cares what I think.

By Zedz Dead (ktm250) on Tuesday, December 07, 2004 - 3:06 pm:    Edit Post Delete Post
The NEW 2006 model 230/X30 replaces the current model. The 245/X45 is a seperate boat and only adds to the line.

Nothing to hide about the 205V/X2 it is due for a "makeover", and I would not be surprised to see very strong ties to the big brother X-Star in styling and execution.

By Ryan Rantz (airrantz) on Tuesday, December 07, 2004 - 3:15 pm:    Edit Post Delete Post
Pat don't fear about the X-2 changing. You have one of the best boats on the market right now, and resale won't be hurt. The new X-star didn't seem to hurt the old X-star and X-2 pricing at all. Correct me if I'm wrong but the picklefork design was for space and looks. The hull is traditional below the deck which provides the wake shape.
By bsflower (tcluv85) on Thursday, December 09, 2004 - 4:42 pm:    Edit Post Delete Post
Ryan is correct the new xstar was priced for a different market (60-80K) than the old x-star and x-2 (40-50K), so they did not effect pricing. He is also correct that the picklefork design was for space, they wanted three adults to comfortable sit in the bow and watch the boarder. It was also for anchor room and ladder. Looks were not really apart of the reason, but if you like it, hey that is your bit, I am not a fan of the look, but I love the space. The picklefork is above the water line, so it doesn't effect the wake behind the boat.

Now I am not sure what Ryan means by traditional hull. Mastercraft claims to be the first company that built a 'wakeboard' boat, before the hulls were ski or family hulls with a ballast and/or tower in them. Mastercraft spent over 3 million dollars on building a 'wakeboard' boat. The prototype had the engine pulled over 100 times while they did R&D on it to make the hull generate the wake. All in all, they did a very nice job.

As far as history goes. I am working on getting a history typed up, but haven't had the time yet. It is true at one time, Coleman did have some share in Mastercraft, I don't remember the years, but I will get that information. It will take awhile though.

(Message edited by tcluv85 on December 09, 2004)

By Big Ed (big_ed_x2) on Friday, December 17, 2004 - 11:57 am:    Edit Post Delete Post
Well,just talked to my MC dealer and he said that THERE IS NO BUYOUT OF MC and the x-2 IS GOING TO BE CHANGING into a picklefork in 2 to 3 years.IMO when that happens is when I'm gettin a new x-2 prob.year 2008
By norm langham III (bigworm) on Friday, December 17, 2004 - 3:41 pm:    Edit Post Delete Post
the picklefork shape also makes for a smoother double up which is incredibly sweet i might add, i rode in one that had supplemental ballast almost exactly like in parks' boat and i thought it could have use a little more in the back for my taste i like the wake to be a little more peaky like the x2, also mc is not being bought out i know this for a fact just to comment.
By matt (supraman) on Saturday, December 18, 2004 - 11:06 pm:    Edit Post Delete Post

Mastercraft did just change ownership. Not a big deal, but true. Pretty much everyone involved seems to think it will be a good thing. I don't know anything about the picklefork thing -- you've probably got a lot better info on that than me.

By bsflower (tcluv85) on Sunday, December 19, 2004 - 7:12 am:    Edit Post Delete Post
Matt if this is true, then please post a link to a story. Because someone who has been with Mastercraft for 14 years said it isn't true. Like I said above, the ownership is still with the management team.
By matt (supraman) on Sunday, December 19, 2004 - 10:19 am:    Edit Post Delete Post

I can't point to a published story. Mastercraft was owned by an investment group for a long time. That investment group recently put Mastercraft on the market.

Many people speculated that Brunswick would buy it (to date we have not). My source on the buyout is the publisher of Wakeboarding Magazine who came to our offices immediately after visiting Mastercraft. I've also got a bunch of buddies at Travis Marine (Mastercraft's home town dealership here in Knoxville) and a number of prospective buyers came by to interview them about the company from a dealer's perspective (I know for a fact this took place).

My understanding was that another investment group has purchased Mastercraft, and owns it now, just as the previous one "owned" it before. The current management team will continue running things, much as they did before, perhaps with even more autonomy this time.

As I wrote earlier, it seems like all involved believe it to be a good thing. While I'm confident in my sources, I also respect the wisdom of the person you spoke with -- I guess we'll have to wait and see.

By bsflower (tcluv85) on Sunday, December 19, 2004 - 1:51 pm:    Edit Post Delete Post
I believe you know my source, he drove the boat for you this summer for the photo shoot.

I forwarded your post to him. Have a great holiday Matt. Next time you are up in Seattle, give a call to me and we can ride.

By Rich (rson) on Sunday, December 19, 2004 - 3:08 pm:    Edit Post Delete Post
with every purchase of a MC you get a free bowling ball and for a limited time a foosball set with life-like players

By matt (supraman) on Sunday, December 19, 2004 - 9:22 pm:    Edit Post Delete Post

You're not going to believe this, buy I JUST got back the pics from the photo shoot this summer. The whole thing went horribly wrong at the end of the day with the chase boat blowing an engine, screaming captain, irate photographer, was a mess. Apparently the friction spilled over to the magazine/photographer relationship as he was holding the pictures hostage for more money.

Anyway, I'll try and get them sent to you here in the next week or so.

I'll call Ken on the Mastercraft deal. Between the two of us we should be able to get our stories straight.

ps -- great pic of Dave in your profile. If you see him, tell him I said hi

By Zedz Dead (ktm250) on Monday, December 20, 2004 - 8:01 am:    Edit Post Delete Post
I am a dealer, what I wrote above is what was announced at the dealer meeting...Wasserstein(sp?) is the new equity partner.
By Rich (rson) on Monday, December 20, 2004 - 8:04 am:    Edit Post Delete Post
So I dont get a free bowling ball with the purchase of a MC??....thats BS, I am getting a 'Bu
By Fredrik Broen (fbroen) on Monday, December 20, 2004 - 8:09 am:    Edit Post Delete Post
You got the spelling right:

U.S. Equity Partners and Management Acquire Mastercraft

Vonore, TN, November 4, 2004 – U.S. Equity Partners, the buyout arm of the Wasserstein & Co. private equity investment firm, today announced that it has successfully completed a recapitalization of MasterCraft Boat Company. Founded in 1968, MasterCraft is the perennial market share leader in the watersports boat segment and has developed into the fourth most recognized brand in the overall U.S. boating industry.

“We are delighted to be investing with management in this exciting company,” said George Majoros, President of Wasserstein & Co. “MasterCraft’s powerful brands and reputation for quality should provide a solid basis for significant growth.” Robert Fogelson, a Managing Director of Wasserstein said: “We are impressed with MasterCraft’s record of new product development and look forward to working with John Dorton and his team to continue to position the company as a world-class manufacturer of both water sport and general recreational boats.”

John Dorton, President and CEO of MasterCraft, commented: “We have enjoyed our association with Pouschine Cook over the years. They invested significantly in the business and management to make us a much stronger company. We look forward to working with Wasserstein & Co. to continue the aggressive business plan we began implementing four years ago. Wasserstein & Co. has tremendous resources and will help MasterCraft become a truly world class company.”

John Pouschine, the former Chairman of Mastercraft, noted: “We have invested millions of dollars to upgrade the business over the last four years, and the Company is now poised to leverage those investments with its new products and a growing economy.”

MasterCraft Boat Company was advised by Banc of America Securities in this transaction. Skadden, Arps, Slate, Meagher & Flom LLP represented U.S. Equity Partners and Schulte, Roth & Zabel LLP represented Pouschine Cook Capital Management.

By matt (supraman) on Tuesday, December 21, 2004 - 7:14 am:    Edit Post Delete Post
I guess that settles it. Nice to have a definitive answer. Thanks Zed and Fredrik.

Laci - Now I'll have to call Ken and rub it in.

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