Invision Capital has made an investment in Fergus Falls, Minnesota-based ShoreMaster, a maker of premium docks, boat lifts, and accessories in North America. No financial terms were disclosed.
FERGUS FALLS, MN (PRWEB) JUNE 09, 2017
ShoreMaster, LLC, the leading manufacturing of premium docks, boat lifts, and accessories in North America, announces that Invision Capital has become a new equity partner.
Invision Capital is a lower middle market private equity firm with over 80 years of investing and operating experience that focuses on partnering with companies with market leading positions, world-class management teams, long-term stability and potential for growth. Robert Castillo, managing director, states, “ShoreMaster holds all our key investment attributes and is an ideal Company for us. We look forward to supporting management in their vision for the next chapter of ShoreMaster.”
Don Hurley, President and CEO of ShoreMaster states, “Invision is an excellent fit for us. I am delighted with this new partnership and believe that it will enhance our relationships with our dealers, employees, and customers. Invision’s approach to strategic investing and its deep knowledge of business lifecycles will drive ShoreMaster’s growth in the North American market for waterfront recreational products.”
ShoreMaster was originally founded in 1972 by Dennis Tuel, Sr. Mr. Tuel was a storied entrepreneur who founded ShoreMaster to bring the first all-aluminum boat lift to market. Mr. Tuel sold ShoreMaster to Otter Tail Corporation in 2002. Otter Tail Corporation, in turn, sold its interest in ShoreMaster to High Street Capital in 2013. The recent sales of High Street’s interest in ShoreMaster to Invision Capital is a clear testament to ShoreMaster’s sustainability and incredible growth potential.
ShoreMaster is a customer-focused, market driven company that manufactures quality products safely and efficiently with great people. ShoreMaster has five brands to meet the needs of any waterfront owner throughout North America. The ShoreMaster brands are ShoreMaster, PolyDock Products, Rhino Marine Systems, Shoreline Industries, and OEM Industries. Don Hurley sees an extremely bright future for ShoreMaster: “We strive to provide our dealers, distributors, and customer with the best solutions to meet their waterfront needs. From Florida to Alaska, and California to Maine, we have a solution. That’s what makes us the best company to do business with. With our new partnership with Invision Capital, we look forward to bringing more to the market as we execute our vision as the premium provider of waterfront equipment in North America.”