Crownline Boats (“Crownline”) is a leading manufacturer of 18 to 34 foot sterndrive boats. Founded in 1991, the company is located in West Frankfort, IL.
Pouschine Cook, because of its experience and success with MasterCraft, was identified by management to help acquire the Company from its founders. Because of its success growing the business for Crownline’s founders, management was afforded the opportunity to partner with a private equity firm, acquire the business and engage in the next stage of Crownline’s growth. Pouschine Cook was attracted to Crownline because of its significant growth opportunities and innovative styling.
Pouschine Cook provided management an opportunity for significant ownership and upside. During the transaction process, Crownline’s founders developed an appreciation for the opportunities created by a partnership between Crownline and Pouschine Cook, and requested an opportunity to reinvest a significant amount of their proceeds alongside Pouschine Cook.
Pouschine Cook has rolled up its sleeves together with management to define strategic opportunities, operational improvements and brand building initiatives.