Like Tree0Likes

Purchasing Fountain Powerboats

Old 09-19-2009, 04:12 PM
99fever27's Avatar
Join Date: Dec 2005
Location: Washington
My Boats: TBD
Posts: 1,537

I hope Hustler does pick it up in the end, but why post it on all the boating sites like its a done deal. If it doesn't go as you plan you may look foolish.
99fever27 is offline  
Reply With Quote
Old 09-21-2009, 03:12 PM
Thread Starter
Join Date: Jul 2006
Location: East Quogue, NY
My Boats: Hustler 39 Rockit
Posts: 186
Default Fountain

Our acquisition of secured bank notes of Fountain Powerboats fell a few hours short to Oxford Investment as we were in meetings with Reggie Fountain at his facility on Thursday. It is our understanding that they will be able to run the bid up at the auction to 20 Million dollars. This number does not work to make this a viable investment from us as additional money will be needed to get employees back on the line, re-stock materials and keep the business up and running over the next two years while the country comes back from its current recession. We feel it is a sad day in the boating industry as our expertise and high standards would have helped enhanced the Fountain and Baja lines.

Our passion for building high quality boats is alive and well and we will continue to build Hustlerís full line of boats to the highest standards. We will be coming out with our new 29í in our Rockit Series at the Miami Boat show to fill that current void in the market place and would like to thank everyone who wished us well over the last few weeks.

We will be looking at new ventures in our industry in the coming months.
raceday500 is offline  
Reply With Quote
Old 09-21-2009, 04:39 PM
Join Date: Feb 2005
Location: Arlington Tx
Posts: 9,373

Originally Posted by JUKED YOU View Post
I heard today through a very reliable source that a company out of Canada named Oxford Financial Group purchased Fountain and its assets as of yesterday.
There are two Oxfords I could find. One is in Indiana and the other one is in California.
Catmando is offline  
Reply With Quote
Old 09-21-2009, 04:56 PM
Platinum Member
Trade Score: (3)
tomtbone1993's Avatar
Join Date: Sep 2003
Posts: 15,486

I heard ACORN has submitted a bid as well. any truth to this?
tomtbone1993 is offline  
Reply With Quote
Old 09-21-2009, 05:02 PM
Warped & Twisted Member
Platinum Member
Jamie B.'s Avatar
Join Date: Jan 2002
Location: 4 Miles Offshore, IL
My Boats: Cigarette Top Gun w/ V6's and Maxum 3000 SCR
Posts: 2,117

Originally Posted by tomtbone1993 View Post
I heard ACORN has submitted a bid as well. any truth to this?
Apparently, it doesnt matter any longer ( see 2 posts above yours ).
Jamie B. is offline  
Reply With Quote
Old 09-21-2009, 06:27 PM
LapseofReason's Avatar
Join Date: Jan 2003
Location: Stafford Va.
My Boats: 98 NORTECH 5000V
Posts: 2,806

So whats Oxfords MO to keep and improve the company, to cut cost and ride out the Fountain name till nobody buys their boats or to break it down and sell it off ?
LapseofReason is offline  
Reply With Quote
Old 09-21-2009, 06:34 PM
Join Date: Aug 2004
Location: Paducah KY KY Lake
My Boats: 39 Lip-Ship Cigarette 700 Zuls
Posts: 3,811

All A bunch of B.S. fountain will keep the co.
Just my guess.
customryder is offline  
Reply With Quote
Old 09-21-2009, 06:42 PM
Charter Member #415
Charter Member
Join Date: Nov 2000
Location: Jasper,Alabama
My Boats: 1968 Switzer Shooting Star,1967 Switzer Shooting Star,1963 Glasspar G-3
Posts: 3,357

I think your guess is right. Smoke and mirrors.
Magicfloat is offline  
Reply With Quote
Old 09-21-2009, 06:57 PM
Join Date: Jan 2004
Location: Northern NY
My Boats: '06 35 Lightning Merc HP 525's aka The Black Biotch
Posts: 4,970

Originally Posted by Wildman_grafix View Post
Until I see something official it is all just rumors,,,,,,,,,,,,,,

After 79 posts this is the only one that even comes close to making sense.

Well make that 78 posts, # 79 is close as well.
RaggedEdge is offline  
Reply With Quote
Old 09-21-2009, 07:48 PM
Wahoo ATV's Avatar
Join Date: Jan 2006
Location: Columbus,MI
My Boats: 38 Fountain Canopy, V24 Bat Boat
Posts: 2,573

Reggie must be laughing at home. Companies posting that they have bought the company only to be hit with no deal in hand. Oxford is a Private Equity Fund that takes partners to buy companies. It looks like Reggie had a plan all along.
Wahoo ATV is offline  
Reply With Quote

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT -5. The time now is 12:52 AM.

Copyright 2011 OffShoreOnly. All rights reserved.