Xtreme Companies Acquires Challenger Offshore
March 2, 2006
Xtreme Companies, Inc. announced the acquisition of 100% of the
outstanding shares of semi-custom boat manufacturer Marine Holdings, Inc. In exchange for $4.3 million in cash, Xtreme received the Challenger business and assets including its gross
order backlog of $1.6 million, boat inventory, boat molds and real estate
which includes Challenger's 65,000 square ft. boat manufacturing facility
located on 12 acres in Washington, MO. The transaction was financed with
conventional loans provided by a Missouri-based regional bank.
Xtreme Companies, Inc. is engaged in manufacturing and marketing of
mission-specific Fire-Rescue and Patrol boats used in emergency, surveillance
and defense deployments.
Marine Holdings, Inc.(MHI) d/b/a Challenger Offshore manufactures
semi-custom fiberglass boats of 19 to 97 ft., which include leisure,
performance, fishing and motor yachts.
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