Fishing Holdings LLC, an affiliate of Platinum Equity and parent company of Ranger, Triton and Stratos, announced today the acquisition of a manufacturing facility in Flippin, Ark. with the intent to launch an aluminum boat product line. Terms of the transaction were not disclosed.
The facility includes existing manufacturing space as well as office and administrative room. The company will invest $2.5 million to transition and expand the facility and plans to create more than 50 new jobs over the next several months. Production is scheduled to start up by the fourth quarter of 2012.
“The new manufacturing facility is a great addition to our portfolio and we feel this market represents an opportunity for growth moving forward,” said Fishing Holdings president Randy Hopper. “The acquisition would not have been possible without the support of Gov. (Mike) Beebe and the state’s Economic Development Commission. It’s a partnership we’re very proud of and look forward to being able to serve our community and the Natural State in an even greater capacity.”
