NauticStar Boats has a new owner just weeks after it was facing uncertainty regarding its future in the offshore center console, hybrid, and bay boat market.
Iconic Marine Group (IMG) has acquired NauticStar Boats from MasterCraft Boat Holdings, a publicly traded entity on NASDAQ responsible for brands like MasterCraft, Crest, and Aviara. In early August, MasterCraft revealed that it was “considering strategic alternatives” for NauticStar, prompting Fred Ross and Iconic Marine Group to act quickly.
“We acted promptly to secure NauticStar,” IMG Managing Partner Fred Ross stated. “Once we learned of a potential deal with the former owner MasterCraft, it took us under 45 days to finalize everything.”
NauticStar will now be part of Iconic Marine’s boat division, which includes Fountain Powerboats and Donzi Marine, known for their center console and offshore vessels. Located in Amory, Mississippi, NauticStar achieved sales of $70 million in 2021, offering 19 models in 2023, ranging from deck boats to center consoles.
NauticStar focuses on buyers interested in the 18- to 28-foot segment, while Fountain and Donzi cater to the 32- to 43-foot market, according to Ross. NauticStar’s extensive dealer network, with over 100 dealers, including One Water and Marine Max, is particularly attractive to IMG.
MasterCraft Boat Holdings acquired NauticStar in late 2017 for $79.8 million, but the financial details of this recent acquisition remain undisclosed.
Fred Brightbill, CEO and Chairman of MasterCraft Boat Holdings, mentioned that the sale positions MasterCraft for better profitable growth.
“NauticStar will thrive under a new strategic owner committed to the brand’s future success,” Brightbill stated.
Ross, who acquired Fountain and Donzi in 2016, has gained recognition as a specialist in executing turnaround acquisitions in the marine sector.
“Stay tuned. We’re just getting started,” Ross remarked.