MasterCraft Boat Holdings has signed a definitive agreement to acquire Marine Products Corporation, manufacturer of recreation and sport fishing powerboats.
The combined company is expected to generate net sales of approximately $560 million and adjusted EBITDA of approximately $64 million for the 12 months ending June 30 2026.
The transaction is worth around $232.2 million, approximately 7.2 x Marine Products’ expected EBITDA for the 12 months ending June 30 2026, after adjusting for the elimination of approximately $6 million of public company costs and corporate overhead.
The announcement comes as Marine Products reports its net sales increased 35% year-over-year to $64.6 million in the fourth quarter of 2025.
Today marks an exciting and transformational step for MasterCraft and Marine Products as we continue shaping the future of the marine industry together.
Brad Nelson
The combined company will benefit from a more diversified portfolio of brands – MasterCraft, Crest, Balise, Chaparral, and Robalo – supported by advanced product development and manufacturing platforms as well as an expanded dealer network.
The companies anticipate the combined company will have the scale, reach, and product offerings to meet the evolving needs of boating enthusiasts across multiple categories.
The transaction has been unanimously approved by the boards of directors of both companies and the special committee of the board of directors of Marine Products.
“Today marks an exciting and transformational step for MasterCraft and Marine Products as we continue shaping the future of the marine industry together,” said Brad Nelson, chief executive officer of MasterCraft.
Exceptional dealers and suppliers
“We have long admired Marine Products and the success its team has achieved in creating a leading brand for recreational boaters with Chaparral and a leader in sport fishing boats with Robalo.
“Supported by both companies’ proven category leadership, the combined company will serve an expanded customer base with diversified offerings, drive differentiated innovation, and deliver greater value for dealers and consumers.”
Ben Palmer, chief executive officer of Marine Products, added: “We believe that MasterCraft will be a great steward of the combined business and an enthusiastic partner to our exceptional dealers and suppliers.”
Upon completion of the transaction, Nelson, will serve as chief executive officer of the combined company, and Scott Kent, chief financial officer of MasterCraft, will serve as CFO of the combined company.
Separate operating unit
Following closing, MasterCraft’s board of directors will expand from seven to ten directors and include three new directors.
MasterCraft expects to maintain the Chaparral and Robalo leadership teams, brands and employees as a separate operating unit.
Roch Lambert will serve as chair of the board of the combined company.
The combined company will be headquartered in Vonore, Tennessee and will maintain the Chaparral and Robalo operating facilities in Nashville, Georgia.
The transaction is expected to close in the second calendar quarter of 2026, subject to customary closing conditions.
Marine Products fourth quarter results
The increase of 35% in Marine Products net sales was primarily due to a price/mix increase of 12%, and a 22% increase in the number of boats sold during the quarter.
Net income was $2.4 million, down 45% year-over-year from $4.3 million, with adjusted net income, $3.4 million, a margin of 3.7%.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) was $4.5 million, up 3% year-over-year from $4.4 million; EBITDA margin decreased to 7%.
Gross profit was $12.7 million, up 39% and gross margin was 19.6%.
For the full year 2025 Marine Products Corporation net sales increased 3% year-over-year to $244.4 million.
Net income was $11.4 million, down 36% year-over-year and adjusted net income was $12.4 million.
EBITDA was $17.2 million, down 18% year-over-year; EBITDA margin decreased to 7%.
