Mid-market US private equity firm Invision Capital has backed boat lift and dock manufacturing business ShoreMaster.
Financial details of the deal were not revealed, but Invision says it looks to invest between $2m and $15m in companies with EBITDA within that same range.
ShoreMaster was founded in 1972 by Dennis Tuel, who brought the first all-aluminum boat lift to market.
He sold the business to Otter Tail Corporation in 2002, which in turn sold it on to High Street Capital in 2013.
Invision managing director Robert Castillosaid, “ShoreMaster holds all our key investment attributes and is an ideal Company for us. We look forward to supporting management in their vision for the next chapter of ShoreMaster.”
Copyright © 2017 AltAssets