Cleveland, OH and Boston, MA – MPE Partners (“MPE” or “Morgenthaler Private Equity”) announced today the recapitalization of Waterfront Brands (“Waterfront” or “the Company”), the industry-leading designer and manufacturer of premium watercraft lifts, docks, and related accessories. MPE’s investment positions Waterfront for accelerated growth while ensuring the Company remains the industry leader, an employer of choice, and a loyal partner to all customers.
MPE partnered in the transaction with several members of the management team, led by CEO Don Hurley. Joe Machado, Partner at MPE, said, “With a rich history tracing back over 50 years, Waterfront today is comprised of three market-leading brands, ShoreMaster, HydroHoist, and Neptune, all of which are known for exceptional product quality and best-in-class customer service.” Constantine Elefter, Principal at MPE, noted, “We are looking forward to partnering with Don and the rest of the management team to pursue an aggressive organic growth strategy as well as execute and integrate complementary add-on acquisitions.”
Don Hurley added, “MPE’s culture, resources, experience, and strategic vision for Waterfront make them an ideal partner going forward. We are excited to begin the next phase of our growth and look forward to collaborating with the entire MPE team to support our customers.”
Tree Line Capital Partners, Manulife Investment Management, Northwestern Mutual Capital, and LBC Credit Partners provided financing to support the transaction. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel for MPE Partners. Livingstone acted as the exclusive financial advisor to Waterfront on the transaction.
About Waterfront Brands
Headquartered in Fergus Falls, MN, with additional manufacturing facilities in Claremore, OK, and Fort Lauderdale, FL, Waterfront is the industry-leading designer and manufacturer of premium watercraft lifts, docks, and related accessories. Under its three flagship brands, ShoreMaster, HydroHoist, and Neptune, Waterfront offers a complete product line-up to its more than 700 independent dealers and distributors across North America as well as sells direct-to-consumer through both retail locations and its eCommerce websites. For more information, please visit https://www.waterfrontbrands.com/
About MPE Partners
MPE Partners (“MPE” or “Morgenthaler Private Equity”) seeks to be the preferred partner for entrepreneur- and family-owned companies. Based in Cleveland, OH, and Boston, MA, MPE invests in profitable, lower middle market companies with transaction values up to $250 million. MPE has two primary target investment areas: high-value manufacturing and commercial & industrial services. For more information, please visit www.mpepartners.com.