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Purchasing Fountain Powerboats

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Old 09-19-2009, 04:12 PM
  #71
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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.
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Old 09-21-2009, 03:12 PM
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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.
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Old 09-21-2009, 04:39 PM
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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.
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Old 09-21-2009, 04:56 PM
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I heard ACORN has submitted a bid as well. any truth to this?
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Old 09-21-2009, 05:02 PM
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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 ).
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Old 09-21-2009, 06:27 PM
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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 ?
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Old 09-21-2009, 06:34 PM
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All A bunch of B.S. fountain will keep the co.
Just my guess.
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Old 09-21-2009, 06:42 PM
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I think your guess is right. Smoke and mirrors.
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Old 09-21-2009, 06:57 PM
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Quote:
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.
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Old 09-21-2009, 07:48 PM
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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.
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