Parks Manufacturing, Inc., manufacturer of Blue Wave Boats since 1992 and Silver Wave Pontoons since 2010, announced that they have successfully partnered with Horizon Holdings, LLC as new investors in the company. Founders Pam and Roger Parks are retiring from the business, and sons Richard and Steven Parks will continue to run Parks Manufacturing in Seminole, Okla. Longtime regional sales manager Tim Long has joined Horizon Holdings and Richard and Steven Parks on the ownership team. Three Twenty-One Capital Partners acted as the exclusive advisor to Parks Manufacturing, Inc. during the transaction.
“We are very excited to see our parents rewarded for all their hard work and success over the years. We couldn’t have hoped for better partners than Phil Estes and Jim Shorin [of Horizon Holdings] to continue forward with the legacy of high quality and great designs for which we have always been known. We have huge plans and a great team and now it’s time to get to work and make things happen,” said Steven Parks.
“We are thrilled to have the opportunity to partner with Richard and Steven Parks to steward the successful family business they built with their parents and co-founders, Pam and Roger. Both Blue Wave and Silver Wave boat brands have loyal and passionate consumer followings, and we look forward to Parks Manufacturing continuing to be a customer focused, dealer-friendly and innovative company,” said Phil Estes, managing member of Horizon. “Given our long history in the boat business as investors and supporters of Malibu Boats, Inc. for the past 11 years, our focus on working with outstanding leaders and our special connection to the state of Oklahoma it is a real honor to have this chance to work with this family.”
“Pairing wonderful companies and families with outstanding new partners, such as Horizon Holdings, is the best part of our profession,” said Founder and Managing Partner of Three Twenty-One Capital Partners Erv Terwilliger. “We wish Pam and Roger a happy and healthy retirement and cannot wait to see where Richard, Steven, Tim and the Horizon team take this amazing American success story in the future.”