Vision Marine consolidates dealership locations

Vision Marine has announced the sale of the property of its Nautical Ventures location in North Palm Beach, Florida. The company stated that it intends to consolidate operations from the dealership into the neighboring Nautical Ventures showroom to enhance operational efficiency.

Following repayment of the mortgage associated with the property, Vision Marine received approximately $2 million in net proceeds, which were applied to reduce the company’s outstanding floor-plan financing.

“We continue to streamline operations at Nautical Ventures,” said Alexandre Mongeon, co-founder and CEO of Vision Marine. “By combining our neighboring locations in North Palm Beach, we expect to realize annual savings of up to $0.8 million without materially impacting sales. Since acquiring Nautical Ventures, we have made significant operational improvements — reducing our floor-plan balances, tightening inventory, lowering overhead, and expanding our product portfolio through new collaborations and distribution agreements, including Nimbus Boats, Hydrofin’s hydrofoil technology, Taiga’s electric personal watercraft, and Otter paddle products. On the technology side, we’ve also expanded our E-Motion integrations, most recently with dual E-Motion-equipped powerboats developed in collaboration with Sterk Boats.”