BRP acquiring majority stake in Australia’s largest aluminum boat maker
By CP STAFF
Industry Manufacturing Aluminum Australia BRPTelwater will become part of BRP's Marine Group as an independent line.
BRP’s Sea-Doo recreational watercraft.
Photo: BRP
The Quebec-based maker of Sea-Doos, Ski-Doos and marine watercraft will acquire 80% of the shares of Telwater Pty Ltd. for an undisclosed price.
Telwater’s current owner and managing director, Paul Phelan, will hold the remaining stake and continue to play an important role in operations.
BRP chief executive Jose Boisjoli says the company was attractive because of the opportunity to reinforce its presence in Australia and help the Quebec company become the leading global marine company.
Telwater will become part of the BRP Marine Group as an independent line, along with Evinrude, Alumacraft and Manitou brands.
It employs more than 270 people and has a network of around 180 dealers across Australia and Asia South Pacific.
The acquisition is subject to customary closing conditions, including regulatory approval, and is expected to be completed in the second quarter of BRP’s 2020 fiscal year.
