Canadian conglomerate BRP has completed the purchase of 80 per cent of the outstanding shares in leading Australian aluminium leisure craft and trailer builder, Telwater Pty Ltd.
The successful conclusion of the takeover was announced yesterday at the Sydney International Boat Show.
BRP Marine owns the Evinrude, Alumacraft and Manitou brands, but Telwater is considered a milestone for the company as it is its first investment outside North America.
Coomera-based Telwater makes more than 8,000 boats and 5,000 trailers annually under the Quintrex, Stacer, Savage and Yellowfin Plate brands.
The future for the business, which employs 270 people, looks bright.
BRP CEO José Boisjoli said Telwater’s commitment to excellence and its reputation for reliability complemented perfectly BRP’s state-of-the-art manufacturing expertise and innovation.
“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.”
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