A private equity firm has gained a majority ownership in the high-performance saltwater fishing company Invincible Boat Co. and appointed former MasterCraft Boat Co. CEO John Dorton as the new CEO.
EagleTree Capital, a private equity and investment firm located in New York, finalized the acquisition on July 15. The details of the agreement were not made public.
The founder of Invincible Boat Co., Alex Lipworth, will remain involved in product development and will serve on the company’s board of directors. Lipworth continues to hold a stake in the company based in Opa-Locka, Florida.
“We are thrilled to collaborate with John Dorton and EagleTree. Their expertise in the boating sector and the resources they offer will enable Invincible to reach new levels,” Lipworth stated in a press release. “We anticipate boosting our new product development, investing in the Invincible brand, expanding our manufacturing capabilities, and improving our customer experience and dealer support services.”
Lipworth launched the company in 2006 to fulfill a niche for semi-custom saltwater fishing boats. Since its inception, the company has grown to over 260 employees and offers eight models ranging from 33 to 42 feet.
Dorton, who recently managed Bryant Boats, informed Trade Only Today that Invincible will concentrate significantly on catamaran models. The current lineup includes four catamaran models, with three additional models prepared for production.
The equity firm is expected to provide new capital and resources to aid in Invincible’s growth. With the transition in ownership, Invincible Boats is also enhancing its executive team. Dorton’s son, Ben, will assume the role of vice president, while Scott Woods, who previously led product development at MasterCraft, is joining the new team.
EagleTree Capital is known to adopt a “hands-off” strategy regarding the companies it acquires. The equity firm holds stakes in technology, travel, and media enterprises. It had a previous investment in the marine sector with MasterCraft Boat Co. 15 years ago but exited the tow boat business three years later.
“I’m excited to join a company that produces such exceptional boats,” Dorton remarked in a press release. “I’m honored to partner with Alex, the talented management team at Invincible, and the most dedicated craftsmen in the saltwater market. I strongly believe that the premium saltwater fishing segment is one of the most consistent in the industry, attracting passionate customers who value quality and performance.”