T-H Marine Supplies, Inc., announced the acquisition of the assets of HydroWave, LLC, marking another significant addition to its portfolio of boating and fishing accessories and products. HydroWave designs, manufactures, and sells a patented line of marine sound technology devices that attract fish for anglers.
Financial terms of the deal were not disclosed.
“We are very pleased to announce the acquisition of the HydroWave assets," T-H Marine president Jeff Huntley said in a release announcing the move. "We are also proud that we will retain several key HydroWave employees and have entered into a multi-year consulting agreement with HydroWave founder Gene Eisenmann.
"Gene and his team have built a strong company with an excellent reputation for providing cutting edge technology to help make fishing more rewarding for anglers of any skill level. These products really work and we are excited about adding this great brand to the T-H Marine product line.”
HydroWave marks T-H Marine's third acquisition in the past five weeks. The company acquired the rights to the Z-LAUNCH boat launch strap in October and the Gear Grabbar magnetic storage system last month.
“Growing HydroWave over the last four years has been an exciting adventure," said Eisenmann. "I can’t imagine the dynamic growth it will achieve tied in with an industry leader such as T-H Marine. I’m also looking forward to a continued role in new product development.”
Kevin VanDam is one of the co-owners of HydroWave and has previously endorsed products sold under the T-H Marine label.
“I have been with HydroWave as an owner from the beginning," VanDam said. "I believe in and use the product. I am excited that a super company like T-H Marine has bought HydroWave. T-H is a true leader in innovation of new products for serious fisherman. I have used and believed in T-H products for many, many years and they are literally on my boat from trolling motor to transom. We have already made plans for me to stay very involved with the brand and to work with T-H Marine to help more anglers catch fish with our sound technology.”
Huntley said that the HydroWave assets and people are relocating to T-H Marine headquarters in Huntsville, Ala., where all future assembly and shipping of the product will occur. There will be no disruption to HydroWave customers or suppliers. Within one week of the deal closing, HydroWave will be fully functioning as a brand under the T-H Marine umbrella.
“T-H Marine continues to seek quality brands and products to add to our portfolio," Huntley stated. "This is our third company acquisition in the past three years along with many product license acquisitions. We have awesome momentum in bringing exciting and innovative products to market for the boating and fishing consumer. We are not letting that slow down. The acquisition of the HydroWave assets puts us into a new sound technology space that we looking forward to growing.”
