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23LSVOwner

Malibu bought Pursuit

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malibudog

Interesting.  Thanks for posting. 

Springer says this offers Malibu a chance to "broaden" its outboard offerings.  Maybe we could hear from some of you who have Malibu outboards now about how you like the surf wake?

Oh, and by the way, I do, on rare occasions, fish from my Malibu.  So I can already say that Malibu makes fine fishing boats.  

 

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jaciche

Another diversification step, business must be good.

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JeffC

I dont know anything about Pursuit, but this smells a little like the Cobalt acquisition putting another "premium" boat line in the stable, but unlike the Cobalt deal, I dont see how this lets them leverage their investments in engine marinization, or routes to market (I am still thinking we will see a common dealer channel for Malibu/Cobalt). 

I bought a little MBUU when I bought the boat last spring, and it has done well.   Cobalt helped I think... not as sure about this one.

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jtryon
12 minutes ago, malibudog said:

Springer says this offers Malibu a chance to "broaden" its outboard offerings.  Maybe we could hear from some of you who have Malibu outboards now about how you like the surf wake?

i would hope no one is surfing on an outboard boat ;)

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boardjnky4

Pursuit boats are big money off-shore boats. They're going to do well on this acquisition.

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23LSVOwner
17 minutes ago, malibudog said:

Interesting.  Thanks for posting. 

Springer says this offers Malibu a chance to "broaden" its outboard offerings.  Maybe we could hear from some of you who have Malibu outboards now about how you like the surf wake?

Oh, and by the way, I do, on rare occasions, fish from my Malibu.  So I can already say that Malibu makes fine fishing boats.  

 

IIRC, Cobalt offers some outboard models?

 

I'd say he was speaking as MBUU, the entity which consists of all the companies, not just Malibu.

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23LSVOwner
Just now, boardjnky4 said:

Pursuit boats are big money off-shore boats. They're going to do well on this acquisition.

Yep. Highly regarded in the offshore world.

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jaciche

Well, the price of MBUU is jumping nicely so it's a good day to be a shareholder. I still think Malibu will go after acquiring a premium pontoon brand in the future.

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footndale
54 minutes ago, malibudog said:

Maybe we could hear from some of you who have Malibu outboards now about how you like the surf wake?

Anyone with an Malibu Outboard is barefooting, not surfing. :)

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hunter77ah

Outboard forward drive!!!!

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Cap305

Pursuit makes some SWEET offshore boats.  The large center console and offshore market (with outboards) is on fire right now.  New prices are thru the roof and used prices are basically like Malibu's now.......very solid.  Now in 10 years or so I'd LOVE to find a used one of these to tool around in when I move to the coast.  http://www.pursuitboats.com/OS385.php

 

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ahopkinsVTX
1 hour ago, Cap305 said:

Pursuit makes some SWEET offshore boats.  The large center console and offshore market (with outboards) is on fire right now.  New prices are thru the roof and used prices are basically like Malibu's now.......very solid.  Now in 10 years or so I'd LOVE to find a used one of these to tool around in when I move to the coast.  http://www.pursuitboats.com/OS385.php

 

If by 2-3 times more then a Malibu is what you mean, then yes. :lol: 

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Cap305
6 minutes ago, ahopkinsVTX said:

If by 2-3 times more then a Malibu is what you mean, then yes. :lol: 

More like 4-5 times the price but I get your drift.  Figure in 10 years I'll be drastically downsizing houses and upsizing boats........

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NWBU
2 hours ago, jaciche said:

Well, the price of MBUU is jumping nicely so it's a good day to be a shareholder. I still think Malibu will go after acquiring a premium pontoon brand in the future.

I wouldn't be surprised either since they mentioned on the call this morning that the pontoon market is one of the other fastest growing market segments, along with the towboat and offshore fishing segments.

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mikeo

In the world I work in (software/hi-tech) sometimes acquisitions are made because it is easier/cheaper than licensing a desired patent or to bring additional highly skilled workers on-board. It could be that MBUU is looking to expand, and that is good, but I'll bet there is something else in the package that makes this is a really smart move. I wouldn't be surprised to hear that there is something like the licensing fees that are paid for boat with towers, "delayed convergence" devices (surfgate), and so on that is part of this.

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Falko

Great diversification move. Now they need to hedge the gasoline prices and start making kayaks.

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NWBU

The site in Florida came with 30 acres so they're planning to expand buildings in the next 12-18 months to increase production volume since the offshore fishing market is growing so quickly. Something like up ~18% YOY in registrations, which is a lot higher than the tow-boat market growth.

I'm always on the fence about acquisitions since so many companies fail to properly integrate and see the expected benefits, but the rising tide effect going on right now could make this a decent deal. Especially since its in a business they can learn quickly and they don't seem to be paying a stupid price after tax benefits.

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Ronnie
4 minutes ago, NWBU said:

The site in Florida came with 30 acres so they're planning to expand buildings in the next 12-18 months to increase production volume since the offshore fishing market is growing so quickly. Something like up ~18% YOY in registrations, which is a lot higher than the tow-boat market growth.

I'm always on the fence about acquisitions since so many companies fail to properly integrate and see the expected benefits, but the rising tide effect going on right now could make this a decent deal. Especially since its in a business they can learn quickly and they don't seem to be paying a stupid price after tax benefits.

A tid bit just published.

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NWBU
18 minutes ago, Ronnie said:

Good find. I went back to the transcript and it looks like it was just the Pursuit brand registrations that were up 18% YOY, so not that whole market segment as I was thinking.

MBUU Pursuit Boats call transcript 

Edited by NWBU

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Hemmy
4 hours ago, jaciche said:

Well, the price of MBUU is jumping nicely so it's a good day to be a shareholder. I still think Malibu will go after acquiring a premium pontoon brand in the future.

Polaris bought a large chunk of premium pontoon manufacturers a couple of months ago.  Polaris bought Boat Holdings which owned Bennington, Godfrey, Aqua Patio, Sanpan and Sweetwater.  There are still plenty more out there to buy.

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The Hulk
11 hours ago, jaciche said:

Well, the price of MBUU is jumping nicely so it's a good day to be a shareholder. I still think Malibu will go after acquiring a premium pontoon brand in the future.

Yeah they have their eyes on Harris with that Killer tower they just released.. bolt it on a bu!

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oldjeep
7 hours ago, Falko said:

Great diversification move. Now they need to hedge the gasoline prices and start making kayaks.

Do you figure that people buying 100k to $300k boats care about the price of gas? 

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robbennett
7 minutes ago, oldjeep said:

Do you figure that people buying 100k to $300k boats care about the price of gas? 

Actually yes when it's as bad as some of these boats get. I went 40 miles offshore in a 40ft pursuit last weekend and we burned 78 GPH. Those triple Yamaha V8 350's were very thirsty. Can't do that every weekend. 

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Falko
On 8/22/2018 at 9:03 PM, oldjeep said:

Do you figure that people buying 100k to $300k boats care about the price of gas? 

As much as those people would be paddling a kayak as an alternative...

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