LOS ANGELES, CA - Platinum Equity announced today that it has completed the acquisition of several boat brands and related assets from Genmar Holdings, Inc., through a transaction conducted under Section 363 of the U.S. Bankruptcy Code. The U.S. Bankruptcy Court for the District of Minnesota approved the transaction on January 13, 2009.

The acquisition includes the Ranger, Stratos, Champion, Wellcraft, Four Winns and Glastron boat brands; manufacturing facilities and related operations in Flippin, Ark., Cadillac, Mich., and Murfreesboro, Tenn.; and certain transportation equipment and other real estate assets.

"Each of the brands we acquired has a rich heritage, a strong and loyal customer base, and significant opportunities to grow following very challenging times throughout the boating industry," said Louis Samson, the principal at Platinum leading the investment. "Platinum has a strong track record of supporting companies through difficult transitions and we look forward to putting each of these brands on a path toward long-term growth and profitability."  The newly acquired boat brands will now have the backing of Platinum Equity, with its extensive operational resources and a multi-billion dollar capital base.