Canadian powersports vehicle and propulsion manufacturer Bombardier Recreational Products Inc. (BRP) announced last week the acquisition of 80 percent of the outstanding stock in Australian aluminium boat and trailer manufacturer Telwater Pty, Ltd.
Though no financial details were provided, BRP said that Telwater’s current owner and managing director Paul Phelan will continue as a part of the firm and retain ownership of 20 percent of the company’s share.
“We are excited to start this new chapter of our journey by joining forces with a global leader like BRP. This acquisition means we can continue our growth here and abroad, and leverage BRP’s know-how and capacity to constantly innovate,” Phelan opined. “Our local knowledge and expertise will be put to good use by BRP’s Marine Group and we are looking forward to being part of the BRP family.”
BRP says the deal still faces regulatory approval and must pass other closing conditions, with completion of the deal expected in about a year. Upon completion, BRP says Telwater will join Evinrude, Alumacraft, and Manitou in its Marine Group as independent product lines.
“Telwater was especially attractive to us because of our strong existing relationship with them and the passionate people in Coomera, representing a great opportunity to reinforce our presence in Australia,” explained BRP’s President and Chief Executive Officer José Boisjoli.
“This is one more piece of the puzzle in our strategy to transform the marine industry and a chance for us to further our goal of becoming a leading global marine company by investing in the current leader in this region.”
Based in Quebec, BRP was created as a spin-off for Bombardier’s Recreational Products division in 2003. It boasts an annual sales total of C$5.2 billion and a labor force of 12,500. BRP markets brands including Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Alumacraft, and Manitou in over 120 countries.