Boat Bunkers International acquired
BRADENTON, Fla. – Private equity firm Red Rose Equity Partners, LLC has acquired Boat Bunkers International, Cape Coral, Fla., the company reported in a statement today.
Boat Bunkers produces an in-water mooring station designed to keep boat hulls clean and eliminate the need for antifouling paints, according to the company.
“We visualize a revolution in the marine industry relative to the control of biofouling,” said Mark Kempster, a principal in Red Rose Equity Partners. “Biofouling has been and remains a huge problem worldwide and the current solutions to control it are environmentally damaging. In particular, the use of toxic antifouling paints has come under close environmental scrutiny and many such coatings have already been banned in many parts of the world.”
“Boat Bunkers offers a simple but highly effective solution to control biofouling without the use of any toxic components. We see this as a very important step forward in addressing a very significant issue confronting the marine industry,” said Jim Vitale, another principal in Red Rose.
Boat Bunkers offers mooring stations for boats from 12 to 50 feet that create an isolation chamber that the boats float in. The isolation prevents oxygen flow and food sources, which in turn prevents growth of barnacles and other marine life, according to the company. The patented, inflatable design of Boat Bunkers In-Water Mooring Stations allows them to be mass produced, transported and installed in virtually any location, it added.
The company will continue to operate as Boat Bunkers International with the same personnel.
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