MCBC Holdings, Inc. has completed the previously announced acquisition of Crest Marine LLC, a vertically integrated manufacturer of high-quality pontoon boats in the United States, for approximately $80 million
After netting the impact of $10 million in net present value of future tax benefits, the acquisition price was revised to approximately $70 million.
King & Spalding LLP and Egerton, McAfee, Armistead & Davis, P.C. acted as legal advisors to MasterCraft. Baird acted as Crest's financial advisor.
Crest was a privately held limited liability company located on 55 acres in Owosso, Mich. With nearly 150,000 square feet of manufacturing floor space, Crest produces pontoon boats ranging from 20 feet to 29 feet.