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What do Tracker, Mako and Hatteras have in common.....

Discussion in 'Hatteras Yacht' started by olderboater, May 21, 2021.

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  1. olderboater, May 21, 2021
    #1
    olderboater

    olderboater Senior Member

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    Ownership.

    Yes, finally announced, Johnny Morris has acquired Hatteras Yachts. White River Marine Group was already the largest boat builder in the country. So, now it's official.
  2. Capt J, May 21, 2021
    #2
    Capt J

    Capt J Senior Member

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    I heard this yesterday while ironically looking at a Mako at Bass Pro Shops from the Manager there.
  3. olderboater, May 21, 2021
    #3
    olderboater

    olderboater Senior Member

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    And in my opinion it's good. You have deep pockets and you have a real boater. You have an offshore fisherman worth about $4 billion. You have a man with a proven history of success in taking brands like Mako to new heights.
  4. Capt J, May 21, 2021
    #4
    Capt J

    Capt J Senior Member

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  5. olderboater, May 21, 2021
    #5
    olderboater

    olderboater Senior Member

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    Only the Saltwater portion of Ranger. However, large expansion.

    Some other key points.

    1-Lauren Good to be in charge of the operation so new management.
    2-No mention of Cabo in any of the releases. Thinking Mako and Ranger Saltwater may preclude it.
    3-Large expansion in terms of facility and people.
    4-Emphasis on Salt water fishing. De-emphasis on Motor Yachts.

    Should someone step in and see if Cabo is for sale to be split out? Or should they see about buying the Hatteras name to build motor yachts only? Check on any business segments, Morris isn't interested in.
  6. Capt J, May 21, 2021
    #6
    Capt J

    Capt J Senior Member

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    I highly doubt Hatteras will stop producing motor yachts. They build a LOT of motor yachts.. Cabo, that I don't know. Cabo has been the red headed step child since they were moved to New Bern. It does say that they're putting $35 million into the facility, so that is good. Tracker brands are known for plant efficiency, so that is good as well. The problem I see, is can they get enough skilled workforce to support all brands in a small city like New Bern.
    Capt Ralph likes this.
  7. olderboater, May 21, 2021
    #7
    olderboater

    olderboater Senior Member

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    If they pay enough, they can get the workers. They indicate they'll still build a few MY's but make it clear that will not be their emphasis.
  8. ychtcptn, May 22, 2021
    #8
    ychtcptn

    ychtcptn Senior Member

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    I have high hopes for this, hopefully they will have someone that has a keen interest in the product and bring them back to what they once were. I spent a lot of time there in the mid 90's building several boats and have a lot of fond memories of New Bern and my time at the factory. This is good all around for the local work force.

    Now if JM would build the Seacrafts again or let someone else do it!
  9. YachtForums, May 22, 2021
    #9
    YachtForums

    YachtForums Administrator

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    Ditto Randy! IMO, the 25 Seacraft was one of the best CCs in that range. Hard to find a good one these days. Some of the late model Seacrafts, circa 2002-2005 were built by Tracker (I think!). Wiring was a rat's nest on these boats, but hard to beat the ergonomics or the ride of Potter's original inverted strake design.

    Sorry to derail. Back to Hatteras now...
    Capt Ralph likes this.
  10. Capt J, May 22, 2021
    #10
    Capt J

    Capt J Senior Member

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    I keep kicking myself in the rear. In 2010 I came across a crystal clean, garage kept 2006 20' Seacraft cc with 175hp optimax (135 hours) and double axle aluminum trailer, REPO for $16,500 and I didn't buy it. I keep kicking myself in the rear ever since and the boat is worth $30k right now.
  11. YachtForums, May 22, 2021
    #11
    YachtForums

    YachtForums Administrator

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    I feel your PITA. Been kicking mine ever since I passed on a 2005 25' w/200 optis around 400 hours. It was hi/dry indoor stored on the west coast, owned by a captain of a Westport. The boat was priced at $36k and I couldn't justify it because it didn't have a trailer. Good examples are asking $50k plus for these boats and I know many have changed hands in the 40s.
  12. gr8trn, May 23, 2021
    #12
    gr8trn

    gr8trn Senior Member

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    Any of your staff up for a new venture?
    I find it cool that most knee jerk reactions about how to make millions in the boating industry is to start with tens of millions.
    It appears that smart money can find opportunities and I am hopeful this all works out for the owner’s and employees and industry.
  13. olderboater, May 23, 2021
    #13
    olderboater

    olderboater Senior Member

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    You absolutely must start with many millions. Lots of working capital needed. If you have to leverage your business with high debt, you are in for problems.
    gr8trn likes this.
  14. Capt Ralph, May 23, 2021
    #14
    Capt Ralph

    Capt Ralph Senior Member

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    I can help. Size 14 boot large enough?
  15. Rickfisher, May 24, 2021
    #15
    Rickfisher

    Rickfisher New Member

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    The company will be leveraged but also have a solid backer. I'm betting they will stick to the premium high margin market.
  16. olderboater, May 24, 2021
    #16
    olderboater

    olderboater Senior Member

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    Premium high margin market? Tracker?
  17. MBY, May 24, 2021
    #17
    MBY

    MBY Senior Member

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    We've tried to buy Cabo back many times now. Last time we tried they wouldn't sell without Hatteras. Maybe this time will be different who knows. We definitely would be interested in getting it back though.
    wiredup likes this.
  18. olderboater, May 24, 2021
    #18
    olderboater

    olderboater Senior Member

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    I think perhaps Morris will be more flexible and open to the discussion at least. May not wanting it out there competing with Mako though. However, with the thought of you moving it back to the West Coast and Mako far more on the East Coast, he may take that into consideration. Of course valuing an asset that isn't really being used becomes interesting.

    Versa, much like Brunswick, always wanted to sell them together but wanted more than they were worth. Had other deals to fall through and I suspect came close to losing this one more than once. But WRMG needed the manufacturing capability and did all the work to find every possible incentive the area and the state would provide. As a strict purchase of Hatteras, they never make this deal. It was all based on what they plan to do with the facility, Mako and Ranger Saltwater, the incentives and everything else involved. They put together a deal that made sense for them but wouldn't have for anyone else. They were also a bit of a last hope for a sale at this time. It was a bit of "they're paying for the potential as they plan things, not based on the current value of the operations and you better make a deal with them." It's like so many sales, if you intended just to take it over and run it the same way it has been run, makes zero sense to purchase anywhere close to the asking price.
  19. Rickfisher, May 24, 2021
    #19
    Rickfisher

    Rickfisher New Member

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    I'm sorry I was thinking of Hatteras
  20. Capt J, May 24, 2021
    #20
    Capt J

    Capt J Senior Member

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    I don't think Cabo is a competitor to Mako at all, not even in the same segment. Also don't see where it would fall into the current Hatteras/Mako/ranger situation. Keep in mind Hatteras already has the 45' EX, but hasn't made any effort in the past 10 years to build a bigger or smaller express inboard.
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