The Seller: Weeres Industries and Palm Beach Marinecraft make up the pontoon division of Clearwater Marine. Weeres Industries was formed in 1952 by Ambrose Weeres, known as “Mr. Pontoon” for his invention of the modern day pontoon boat. Palm Beach Marinecraft was established in 1957 and has grown to be a leading pontoon boat brand name.
The Buyer: Premier Marine is America’s only family owned premium pontoon brand. Premier designs, builds, and markets luxury pontoons. Its acquisition of Clearwater Marine’s pontoon division will allow a broader selection of boat offerings and further increase its share in the pontoon market.
The Resolution: Quazar identified numerous Strategic and Financial Buyers. After meetings with Buyers and reviewing multiple offers, Premier Marine emerged as the best fit.
Weeres and Palm Beach continue to run as independent businesses. With Premier’s financial and marketing strength, the Weeres and Palm Beach brands are well-positioned for growth.