Altair Investments Inc. (Altair) announced that it has acquired Marathon Boat Group, LLC (MBG), a vertically integrated manufacturer of high-quality boats in the United States.
MBG is an innovator, designer, manufacturer, and marketer of canoes, jon boats, fishing boats and pontoons under the Grumman and DuraNautic brand names.
MBG is privately owned and operated out of a 50,000 square-foot manufacturing facility located in Marathon, N.Y. With more than 70 years of boat manufacturing experience, MBG has cultivated its brand image and a reputation for innovation and quality, with a growing network of dealers and customers.
MBG currently sells its boats in the United States, Canada, Europe, Asia and Australia through an established network of approximately 50 dealer locations.
“In seeking innovation and quality paired with brand equity and outstanding heritage,” said Andrew Brickman, Managing Partner of Altair Investments Inc, “We could not have found a better acquisition than MBG and its highly skilled team and dealer network. We have exciting plans to invest in and grow MBG with expanded product lines as well as develop new product platforms to address current consumer boating needs.”
Kamal K Tiwari, MBG’s President, said “We are very excited to welcome MBG to the Altair Family. MBG is an iconic brand known for quality, performance and innovation. We are excited to join the MBG team and leverage our experience and operational know-how to further grow MBG. This is a great opportunity for all of our employees, as well as customers, dealer partners and suppliers.”