New Canadian owners take control at Telwater
BRP completes its 80 per cent acquisition of Gold Coast-based Telwater, Australia’s largest producer of aluminium boatsCanadian powersports group BRP has completed its takeover of 80 per cent of Telwater, the company announced last week.
It means Australia’s largest volume aluminium, and fibreglass boat-builder and trailer maker is now foreign-owned – but will continue to be run as a standalone brand within BRP's growing boating empire.
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“As BRP’s third boat acquisition, Telwater’s addition to the marine group is another step in helping create a strong offering and foundation to expand into new markets, with the objective of transforming the marine industry as it did for powersports,” BRP said in a statement announcing the takeover’s completion.
Telwater – which makes boats for brands including Quintrex, Savage, Stacer and Yellowfin Plate – will join the other boat brands in BRP’s stable, alloy trailerable fishing boat brand Alumacraft and pontoon boat maker Manitou.
"We are extremely pleased to welcome Telwater employees in the BRP family,” BRP chief executive José Boisjoli said.
“This first acquisition for the marine group outside the United States is another milestone in our plan to become a global leader in this industry.”
State of the art
BRP said Telwater’s commitment to excellence and its reputation for reliability perfectly complemented its “state-of-the-art manufacturing expertise and innovation”.
“This acquisition brings the BRP marine group one step closer in its quest to becoming a leader in the boating industry, building and integrating boats and engines to give consumers an unparalleled experience on the water.”
The value of the deal has not been disclosed.
BRP announced in May it planned to take a controlling stake in Telwater, with Telwater’s co-owner and managing director, Paul Phelan, to retain a 20 per cent stake in the company.
“Once the intended acquisition is completed, Telwater will join the BRP marine group as an independent product line, along with the Evinrude, Alumacraft and Manitou brands,” BRP said at the time.
“This will allow BRP to increase and strengthen its position in the aluminum boat industry in regions with excellent growth potential.
“Having this manufacturing footprint in Australia will give BRP additional options for supporting other product lines in the future.”
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