NJgr8ful

Saw this posted in another thread, thought it could use its own press.

Congrats to Mike and Compx. They now own CMI and Livorsi Looks like a formidable team growing there.

Manufacturing & Fabrication
Livorsi Marine acquired by Compx Marine

Boating Industry
Tuesday April 25, 2006


GRAYSLAKE, Ill. - Livorsi Marine, Inc., a manufacturer of marine instrumentation, throttles and controls, specialty hardware and custom components since 1988, has been acquired by CompX Marine, Inc., headquartered in Mauldin, S.C., CompX reported in a statement today.

The acquisition includes Livorsi's 20,000-plus-foot manufacturing facility and marine product line, which is standard equipment for boat manufacturers such as Formula, Baja, Fountain, Cigarette, Donzi, Nor-Tech, Outer Limits, and Eliminator.

Mike Livorsi will continue as the president of the company along with Ed Mannion, vice president of operations. Manufacturing will remain at its current location in Grayslake, Illinois.

The Livorsi purchase is the second marine industry acquisition for CompX in the past twelve months. In August 2005, CompX acquired Custom Marine, Inc. of Neenah Wisconsin, a supplier of custom fabricated stainless steel marine exhaust systems to Mercury Racing and other high performance boat builders nationwide.

"We're pleased to have Livorsi join our new marine division," commented Scott James, president of CompX Marine, Inc. "Both CMI and Livorsi are leaders and innovators in their respective markets. We're anxious to generate a manufacturing, operations and sales synergy that will benefit each company in the years to come. Our goal is to concentrate on manufacturing high-end marine components that will enhance the value, longevity and enjoyment for all our customers in the recreational boating industry."

Downtown42

Wow, Mike gets married and then sells the biz. I don't blame him.

stecz20

is this a good or bad thing for us????

fountain1fan

stez20 i think the same thing i hope it doin't turn out to be bad .

Brad Zastrow

I helped Mike in the sale of the company. My company Premier Business Group www.teampremier.com is in mergers and acquisitions. We help with a lot of transactions and this one is a terrific fit for both parties. This is all postive for Livosri Marine and the industry. They have plans to grow the company and CompX has the money to do it. First class people at CompX! Plus Mike Livorsi is still at the throttles.

ratman

brad what other types of companies does compx own?

32 thunder

Good luck to Livorsi Hopefully it helps us boaters out to!!

NJgr8ful

CMI

NJgr8ful

I would say good Stecz. Because, just maybe this BIGGER, mother, takeover, company, CompX, can bring us their newest products through a faster, more efficient, and of course a more COST EFFECTIVE process, thus passing the savings onto the loyal OSO bruthas, who've been there through thick and thin

Downtown42

Just purchased CMI also.