EagleTree Capital said July 15 that it acquired a majority of Invincible Boat Co. Financial terms weren’t announced. Invincible Boat, of Opa Locka, Florida, makes and sells high-performance semi-custom saltwater fishing boats.
EagleTree Capital Acquires Leading High-Performance Saltwater Fishing Boat Brand, Invincible Boat Company
Opa Locka, FL and New York, NY – July 15, 2019 – Invincible Boat Company, a premium high-performance saltwater fishing boat brand, and EagleTree Capital, on behalf of its private equity fund EagleTree Partners IV, today announced that EagleTree has recently acquired a majority stake in Invincible. The Company’s founder, Alex Lipworth, will continue to guide product development, serve on the Company’s board of directors, and retain a significant stake in the Company. Invincible and EagleTree also announced that John Dorton, former CEO of EagleTree portfolio company MasterCraft Boat Company, has joined Invincible as Chief Executive Officer. Terms of the transaction were not disclosed.
Headquartered in Opa Locka, Florida, Invincible manufactures and sells high-performance semi-custom saltwater fishing boats. Invincible was founded in 2006 by Alex Lipworth, an entrepreneur and competitive fisherman with a desire to set a new industry standard in the saltwater fishing category. Since its inception, Invincible has quickly gained recognition as the highest performing and best built brand in the market. Mr. Dorton is a 25-year industry veteran, having ledMasterCraft, Hydra-Sports and HeyDay. He has also served on the boards of the National Marine Manufacturers Association and the Water Sports Industry Association.
“We are excited to partner with John Dorton and EagleTree. Their experience in the boating industry and the resources they provide will help Invincible achieve new heights,” said Mr. Lipworth. “We look forward to accelerating our new product development, investing in the Invincible brand, growing our manufacturing capacity, and enhancing our customer experience and dealer support systems.”
“I’m delighted to have the opportunity to join a company that builds such incredible boats” said Mr. Dorton. “It’s an honor to partner with Alex, the rest of Invincible’s talented management team, and the most dedicated craftsmen in the saltwater space. I’m a big believer in the premium saltwater fishing category as one of the most stable in the industry, with passionate customers that recognize quality and performance.”
“We are thrilled to partner again with John Dorton, and with Alex Lipworth and the entire Invincible team,” said George Majoros, Jr., Co-Managing Partner at EagleTree. “Invincible has built a tremendous reputation based on its outstanding boats and we’re delighted to have the opportunity to build on the strong foundation that Alex created.”
Stuart Martin, Partner at EagleTree, said, “With this infusion of new capital and resources, we are confident that Invincible will be able to accelerate its growth for the benefit of its customers, distributors, and employees.”
VRA Partners served as financial advisor and Holland and Knight LLP served as legal advisor to Invincible. Jones Day served as legal advisor to EagleTree.
About Invincible Boat Company
Invincible Boat Company is a premium high-performance saltwater fishing boat brand. It is headquartered in Opa Locka, FL with over 260 employees. Invincible’s current product portfolio includes eight semi-custom models ranging from 33’ to 42’ in both monohull and catamaran designs.
About EagleTree Capital
EagleTree Capital, formerly Wasserstein Partners, is a New York based private equity and investment firm. It manages capital on behalf of global institutional and individual investors. EagleTree’s private equity funds invest primarily in the media and business services, consumer, and water and specialty industrial sectors. For more information, visitwww.eagletree.com.