IG Completes Transaction of Marine Tools Supply Company Following a Notable Post-pandemic Comeback

August 2023 - The Independence Group (IG) has completed the sale of a Marine Tools and Equipment Supplier to an entrepreneurial buyer. 

The Company specializes in products for the cruise industry, providing essential tools – technical consumables – for ship building and maintenance requirements. Most of its revenue is from cruise lines, which were nearly wiped out by the COVID-19 pandemic. By year-end 2022, the Company had climbed its way back to pre-COVID level revenue and it remains financially strong. 

Customer types also include commercial tankers, container lines and shipping companies.

After the transfer of ownership, the two sellers will retire. The Company’s highly competent management team is in place to support the new owner.

As a leader of operations for various companies, the buyer has helped to rebuild small businesses in their recovery from economic hardship. “This buyer had incredible timing, coming on board to lead the Company after its recovery, into the future,” said Don van der Zwaag, IG’s M&A Advisor who guided the seller through the sale process. “A great deal of credit also goes to the sellers, who stood by IG for four years of economic turmoil and were finally rewarded with a successful sale.”   

IG represents clients from across the U.S. with offices in California, the Eastern U.S, the Midwest, Texas, Utah and Idaho. The firm works in tandem with its buy-side services division, Acquisition Partners (AP), to provide a full range of M&A services. For more information about AP visit www.acq.partners.