Headquartered in Elkhart, Indiana, Nautic Global Group was one of the world’s largest producers of cruisers, hurricane boats, pontoon boats, specialty fishing boats and bowriders.
Opportunities and Challenges:
Rollup of four recreational brands (Godfrey, Rinker, Polar Kraft and Hurricane) owned by hedge fund
Integration synergy opportunities were thought to exist; synergies and strategies were disjointed and the rollup failed to deliver anticipated opportunities.
Solutions and Results:
QORVAL engaged in the CEO role
Critical integration teams were formed to drive synergy savings, best practices and culture change
Served on the management team directing and participating in strategy definition
Modified and improved critically deficient business practices including bill of materials, product concept to production, pricing strategies, facility rationalization, and global sourcing strategies
QORVAL led efforts to transform the company and prepare it for exit through a sale process in part or whole.
Significant operational overhead savings
Redirected company from “adrift at sea” to “clear direction and course”
Improved dealer relations and sales and marketing strategy
Focused on products and initiatives that produced profit
Modeled company to optimize profits post-sale (helped buyers see the opportunity)
Led sale of company
Identified buyer
Closed sale
Jobs and lines saved
The company survived, but changed form, ultimately integrated and sold with Bennington Marine to Polaris Industries for $850MM