BRP completes acquisition of Telwater, Australian leader in aluminum boats
by Elaine Arsenault 1 Aug 2019 11:52 UTC
BRP completes acquisition of Telwater, Australian leader in aluminum boats © BRP
BRP (TSX:DOO; NASDAQ:DOOO), announced today the completion of the previously announced acquisition of 80% of the outstanding shares of Telwater Pty, Ltd ("Telwater"), Australia's leading manufacturer of aluminum boats and trailers.
As BRP's third boat acquisition, Telwater's addition to the Marine Group is another step in helping BRP to create a strong offering and foundation to expand into new markets with the objective of transforming the marine industry as it did for powersports.
"We are extremely pleased to welcome Telwater employees in the BRP family. This is our first acquisition for the Marine Group outside the United States and Australia couldn't have been a better choice. We are already well-established in Australia as we have been doing business there since 1960 and have had a long relationship with Telwater already. Bringing Telwater onboard is a chance for us to deepen our roots and strengthen our presence locally," mentioned José Boisjoli, President and CEO of BRP.
The Telwater commitment to excellence and its reputation for reliability complement perfectly BRP's state-of-the-art manufacturing expertise and innovation. This acquisition brings the BRP Marine Group one step closer in its quest to becoming a leader in the boating industry, building and integrating boats and engines to give consumers an unparalleled experience on the water.
For additional information on Telwater, visit telwater.com.