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Gordo

Has Malibu Boats Sold?

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Gordo

I saw a thread today that implied Malibu Boats had changed ownership (sold to a venture capital group) or that they had sold a substantial amount of equity. I searched the Forum and also Malibu Boat website and could not find a press release or any other information. Does anyone have any info on this?

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electricjohn

If they keep it hush-hush, it can't be good.

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edwin

just a swag on timing, but that took place 12-18 months ago.

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ddeluca
I saw a thread today that implied Malibu Boats had changed ownership (sold to a venture capital group) or that they had sold a substantial amount of equity. I searched the Forum and also Malibu Boat website and could not find a press release or any other information. Does anyone have any info on this?

It looks like they just needed additional capital to invest in the company Citi bank helped them.

http://www.allbusiness.com/services/busine.../4544440-1.html

http://goliath.ecnext.com/coms2/product-co...82742-page.html

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Malibudude

Took place back in '06.

Just to set the record straight, Malibu has partnered up with a private equity/holding group. While Ken Novotny points out some recap options, he did leave out a holding strategy. Partnering with someone whose strategy is to sell in 2 or 3 years had no appeal to us. The management team has also reinvested in the newly formed LLC, and we own the same class of shares as our new partners. I wouldn’t bet the farm just yet Ken….

There are many reasons it was the right time to do this. One reason relates to estate planning, and another is to create some liquidity and divesture for the Malibu Ownership Team. This process took nearly a year to complete, and was a very thoughtful process for us here at Malibu. In the end, we have investors who are like minded and also understand and value the culture of our company.

There have been no changes to the staffing at either of our factories, and things are as they have always been. The company creed of building the best boats and enjoying our work place will remain our central focus. We have spent too many years building relationships with our dealers and customers to make a change that could jeopardize our reputation and the results of our hard work.

Regards,

Bob Alkema

President, Malibu Boats LLC

To further clear the air, the folks who have partnered with us are Phil Estes and Jim Shorin of Horizon Holdings. Their web site is www.horizonholdings.com if you would like to know more about them.

Regards,

Bob Alkema

President, Malibu Boats LLC

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Gordo
Took place back in '06.

Just to set the record straight, Malibu has partnered up with a private equity/holding group. While Ken Novotny points out some recap options, he did leave out a holding strategy. Partnering with someone whose strategy is to sell in 2 or 3 years had no appeal to us. The management team has also reinvested in the newly formed LLC, and we own the same class of shares as our new partners. I wouldn’t bet the farm just yet Ken….

There are many reasons it was the right time to do this. One reason relates to estate planning, and another is to create some liquidity and divesture for the Malibu Ownership Team. This process took nearly a year to complete, and was a very thoughtful process for us here at Malibu. In the end, we have investors who are like minded and also understand and value the culture of our company.

There have been no changes to the staffing at either of our factories, and things are as they have always been. The company creed of building the best boats and enjoying our work place will remain our central focus. We have spent too many years building relationships with our dealers and customers to make a change that could jeopardize our reputation and the results of our hard work.

Regards,

Bob Alkema

President, Malibu Boats LLC

To further clear the air, the folks who have partnered with us are Phil Estes and Jim Shorin of Horizon Holdings. Their web site is www.horizonholdings.com if you would like to know more about them.

Regards,

Bob Alkema

President, Malibu Boats LLC

Thanks for the information! Cannot get better info than that. Glad to know you (and your team) are still around.....many equity groups make (too many) changes, too quickly. If you keep going the way you are, Malibu will have an IPO before long!! And if you guys need a good accounting firm to assist in that regard, I happen to know one !!

Gordon Sorrells

Director

Deloitte & Touche LLP

(Houston)

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funkcity

It appears that Malibu and it's employee-owners sold at the right time.

I never seem to be able to do that!

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