Fountain Powerboats seeks partner with additional capital

WASHINGTON, N.C. — Fountain Powerboat Industries Inc. has retained investment banker Jacobs Capital to seek a partner that can provide additional capital to support operations during the economic downturn and help finance future growth, according to a release today from Fountain.

"The present market for boating is not immune to the same forces impacting the auto industry and the overall economy," Fountain Chairman Reggie Fountain said in the release. "Fountain Powerboats is one of the premier brands in the powerboat industry, and we plan to be a survivor of the current industry shakeout. We have unparalleled customer loyalty, which has allowed us to see less falloff than most of our competitors. From experience, we know the companies that come through this recession will be poised to capture even greater market share."

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