Vision Marine Technologies Inc. has acquired Nautical Ventures Group, a Florida-based recreational boat dealership and marina operator. The transaction marks an expansion of Vision Marine’s presence in the electric marine propulsion sector.
Nautical Ventures operates nine locations across Florida, including two flagship waterfront showrooms and manages a full-service marina and service yard on the Dania Cutoff Canal. The site spans 10-acres and features 108 wet slips for vessels up to 15-metre (50-foot), a 90-tonne Travel Lift, a forklift and mobile servicing.
Alexandre Mongeon, CEO of Vision Marine, stated, “This acquisition marks a pivotal step in Vision Marine’s strategy to scale and compete at the highest level of the global boating industry. By joining forces with Nautical Ventures, we gain immediate access to a proven retail and service network, allowing us to accelerate the rollout of next-generation marine technology.”
Roger Moore, CEO of Nautical Ventures, said: “Our partnership with Vision Marine allows us to stay true to that mission while expanding what’s possible. Electric propulsion is no longer a future concept – it’s here, and it’s ready.”
The deal was funded through a combination of cash, a seller’s note and up to 255,102 shares of Vision Marine’s common stock. ThinkEquity served as advisor to Vision Marine in connection with the transaction.
Nautical Ventures’ operations are currently being aligned with Vision Marine’s business structure.
