Liberty Pulls Out on Fountain, Donzi & ProLine
10-07-2011 | 03:02 PM
#1
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www.LEGENDMARINEGROUP.com
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Liberty Pulls Out on Fountain, Donzi & ProLine
PRESS RELEASE
Liberty Ceases Providing Management Services to
American Marine Holdings
Boca Raton, FL and Washington, NC – October 7, 2011: Liberty makes the following announcement regarding its participation in American Marine Holdings (AMH), which includes the boat brands Donzi, Fountain and Pro-Line.
Effective today, Liberty has ceased providing management services to AMH and Liberty’s affiliate has transferred its nominee ownership interest in AMH to FCC, LCC d/b/a First Capital, a portfolio company of HIG Capital. Liberty has enjoyed its part in steering the company through the very difficult times that the boat manufacturing industry has experienced recently, and wishes FCC continued success with AMH in the future.
Starting in 1964, Donzi, Pro-Line and Fountain have established themselves national and international recognized brand leaders in offshore powerboat racing, performance and recreational fishing tournaments, the performance Cruiser marketplace, while building a loyal, worldwide customer base. The three brands are manufactured in a modern 250,000 square-foot facility on the Pamlico River in Eastern North Carolina.
Liberty Ceases Providing Management Services to
American Marine Holdings
Boca Raton, FL and Washington, NC – October 7, 2011: Liberty makes the following announcement regarding its participation in American Marine Holdings (AMH), which includes the boat brands Donzi, Fountain and Pro-Line.
Effective today, Liberty has ceased providing management services to AMH and Liberty’s affiliate has transferred its nominee ownership interest in AMH to FCC, LCC d/b/a First Capital, a portfolio company of HIG Capital. Liberty has enjoyed its part in steering the company through the very difficult times that the boat manufacturing industry has experienced recently, and wishes FCC continued success with AMH in the future.
Starting in 1964, Donzi, Pro-Line and Fountain have established themselves national and international recognized brand leaders in offshore powerboat racing, performance and recreational fishing tournaments, the performance Cruiser marketplace, while building a loyal, worldwide customer base. The three brands are manufactured in a modern 250,000 square-foot facility on the Pamlico River in Eastern North Carolina.
) and a clarification. thanx!
10-13-2011 | 01:04 PM
#7
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Joined: Feb 2006
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From: Tallahassee, FL
Donzi, Proline, and Fountain are out. Not sure what the financial gain/etc. is.
So somehow Baja gets the last haha.
10-13-2011 | 01:59 PM
#8
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From: Indianapolis, Lake Cumberland
Liberty owns the Baja brand (not sure if they are producing any) and the factory (formerly Fountain) in Washington, NC and employs the personal to actually manufacture boats and do service work on them.
AMH is the holding company that bought the Donzi, Fountain and Pro-Line brands (and molds) but does not actually produce the boats. I guess they figured they would buy these brands on the cheap and make a return on their investment as the economy improves. Sometime ago AMH reached an agreement where-by Liberty would mange the Donzi, Fountain and Pro-Line brands (market and produce them) at Liberty's facility in Wash, NC, for a fee no doubt.
It appears that Liberty has now pulled out of that arrangement . One can only wonder why. As for Baja, I have no idea what Liberty plans for it.
I hope the two sides work it out.
10-13-2011 | 02:24 PM
#9
Joined: Jan 2010
Posts: 651
Likes: 0
From: Gurnee IL
PRESS RELEASE
Liberty Ceases Providing Management Services to
American Marine Holdings
Boca Raton, FL and Washington, NC – October 7, 2011: Liberty makes the following announcement regarding its participation in American Marine Holdings (AMH), which includes the boat brands Donzi, Fountain and Pro-Line.
Effective today, Liberty has ceased providing management services to AMH and Liberty’s affiliate has transferred its nominee ownership interest in AMH to FCC, LCC d/b/a First Capital, a portfolio company of HIG Capital. Liberty has enjoyed its part in steering the company through the very difficult times that the boat manufacturing industry has experienced recently, and wishes FCC continued success with AMH in the future.
Starting in 1964, Donzi, Pro-Line and Fountain have established themselves national and international recognized brand leaders in offshore powerboat racing, performance and recreational fishing tournaments, the performance Cruiser marketplace, while building a loyal, worldwide customer base. The three brands are manufactured in a modern 250,000 square-foot facility on the Pamlico River in Eastern North Carolina.
Liberty Ceases Providing Management Services to
American Marine Holdings
Boca Raton, FL and Washington, NC – October 7, 2011: Liberty makes the following announcement regarding its participation in American Marine Holdings (AMH), which includes the boat brands Donzi, Fountain and Pro-Line.
Effective today, Liberty has ceased providing management services to AMH and Liberty’s affiliate has transferred its nominee ownership interest in AMH to FCC, LCC d/b/a First Capital, a portfolio company of HIG Capital. Liberty has enjoyed its part in steering the company through the very difficult times that the boat manufacturing industry has experienced recently, and wishes FCC continued success with AMH in the future.
Starting in 1964, Donzi, Pro-Line and Fountain have established themselves national and international recognized brand leaders in offshore powerboat racing, performance and recreational fishing tournaments, the performance Cruiser marketplace, while building a loyal, worldwide customer base. The three brands are manufactured in a modern 250,000 square-foot facility on the Pamlico River in Eastern North Carolina.
10-13-2011 | 02:54 PM
#10
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Joined: Feb 2006
Posts: 1,826
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From: Tallahassee, FL
AMH is the company that owned proline and Donzi for years. Liberty came post AMH but it sounds like the AMH name is still in tact through and post Liberty.
The last thing that I read about Baja is that the new rollout will continue as planned.
My guess is the higher end stuff isn't moving. I follow Donzi and can tell you the number of boats that they have had listed on their site has been minimal so an educated guess is they can't support a brand that is only making a handful of boats per year...
The last thing that I read about Baja is that the new rollout will continue as planned.
My guess is the higher end stuff isn't moving. I follow Donzi and can tell you the number of boats that they have had listed on their site has been minimal so an educated guess is they can't support a brand that is only making a handful of boats per year...
