BRP Inc. entered an agreement to acquire Triton Industries Inc. — a manufacturer of pontoons — which will be added to BRP’s newly formed Marine Group, the company announced in a press release.
Triton Industries is primarily known for its brand of pontoon boats called Manitou. Based in Lansing, MI, the family-owned business utilizes a patent-protected technology called V-TOON, which increases the planning, performance, and efficiency of its pontoons. Manitou employs approximately 160 people and has a network of around 150 dealers across Canada and the U.S.
“Manitou’s strong brand, high-quality pontoons, and recognized technology made it a natural fit for BRP’s newly formed Marine Group,” said Tracy Crocker, president of the Marine Group. “With the acquisition of Manitou, we are strengthening our marine portfolio by entering the fastest growing segment in the boat industry.”
The transaction remains subject to certain closing conditions and is expected to be completed in the third quarter of 2019.
This is the second acquisition for BRP after the company announced plans to enter the aquatic sector with the formation of its marine group. It previously added Alumacraft Boat, an aluminum fishing boat manufacturer, to its ranks in June. The company’s goal is to increase its presence in the marine sector and drive opportunities for dealers.