Limestone Boat Company Acquires Ebbtide Holdings, LLC
March 29, 2021
The Limestone Boat Company Limited (TSXV: BOAT) entered into a letter of intent to acquire 100% of Ebbtide Holdings, LLC of White Bluff, Tennessee for USD $5,280,000 in cash plus assumption of approximately USD $4,043,800 of debt, with the transaction and working capital to be financed through an offering of up to CAD $17.0 million of convertible debentures. The acquisition brings Limestone full control of manufacturing at Ebbtide's recently upgraded 145,000 sq ft facility, expands the combined brand portfolio (Limestone, Aquasport, Boca Bay, Ebbtide), and significantly increases production capacity and dealer distribution across the U.S. East, Southeast and Gulf Coasts.
- Buyers
- The Limestone Boat Company Limited
- Targets
- Ebbtide Holdings, LLC
- Industry
- Manufacturing
- Location
- Tennessee, United States
- Transaction Type
- Buyout
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