PMCF Advises Manitou Pontoon Boats in Sale to BRP Inc.
Chicago, IL and Southfield, MI – September 2018 – P&M Corporate Finance, LLC (“PMCF”) is pleased to announce that it served as the exclusive financial advisor to Triton Industries, Inc. in its sale to BRP.
An established and growing brand based in Lansing, Michigan, Triton Industries is the manufacturer of Manitou pontoon boats, best known for innovative patent-protected technology across its entire lineup, with a brand that is associated with premium luxury and performance. Manitou is considered a pioneer in the evolution of the pontoon thanks to its patented V-TOON® technology, an industry game-changer for planing, performance, and efficiency. Manitou has a network of around 150 dealers across Canada and the US.
BRP is a global leader in the world of powersports vehicles and propulsion systems built on over 75 years of ingenuity and customer service. Its portfolio of products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on and off-road vehicles, Alumacraft boats, Evinrude and Rotax marine propulsion systems, as well as Rotax engines for karts, motorcycles and recreational aircraft.
Scott VanWagenen, a shareholder and President of Manitou, remarked, “We are enthusiastic that our family business found a new home with BRP. It was evident from our very first interaction with their team they share the commitment to innovation, quality, and customer service for which Manitou is known. Manitou makes a great addition to BRP’s recently created Marine Group.”
PMCF advised the shareholders of Manitou through the entire transaction process. Mr. VanWagenen noted, “PMCF was instrumental in securing this outcome for us – they understood our objectives and worked to make sure they were achieved. Further, their industry expertise, sale process management, and ability to properly communicate our story to the market was impressive. We couldn’t be happier with this outcome.”
The transaction closed in August 2018. PMCF served as Manitou’s exclusive investment banker. Bodman PLC served as the legal advisor to Manitou.