Correct Craft acquires Indmar Marine Engines
Correct Craft announced the acquisition of Indmar Marine Engines. Indmar will be operated by Correct Craft subsidiary Liberty Technologies which also manages PCM Engines, Crusader Engines, Levitator Engines, and Velvet Drive Transmissions.
While an important new member of Correct Craft’s portfolio of brands, Indmar will continue to operate independently, retaining its own brand and team members. Indmar will remain operating from its world headquarters in Millington, Tenn., while continuing to supply its boat-building manufacturers and network of dealers.
“I am proud of the company and brand that our family has built. The acquisition by Correct Craft provides significant opportunities for long-term growth while continuing to build and honor my family’s legacy; However, most importantly, the acquisition with Correct Craft provides additional security and opportunity for our employees, boat building partners, and network of dealers,” said Chuck Rowe, former President of Indmar Marine Engines. “There could not be a better company to sell our business to than Correct Craft. The values and culture of Correct Craft are one-of-a-kind, and I know Indmar is in good hands.”
Liberty Technologies President Mark McKinney stated, “We are excited to welcome the Indmar team into our Liberty Technologies family.” McKinney added, “The Rowe family has done an extraordinary job of leading Team Indmar and making outstanding advancements in the inboard marine industry. Though Chuck Rowe’s shoes will be hard to fill, I am excited about the opportunity to continue the legacy of Indmar and to work with the team to support and provide additional features, products, and opportunities that will elevate Indmar and their OEMs to new heights.”
“I am tremendously happy to have Indmar join us as a part of the Correct Craft family. Chuck and his father have built a phenomenal company that resulted in both men’s induction into the Marine Industry Hall of Fame. I appreciate the trust they have placed in our team, and we will do our best to meet and exceed their expectations,” CEO of Correct Craft, Bill Yeargin said.
Yeargin added, “Indmar has a strong team whom we respect greatly. We are excited to continue providing Indmar’s customers with products well beyond what we can imagine. We are looking forward to an exciting future!”