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Hennessy & Simmons LLC (CHS) has made a majority equity
investment in Rinker Boat Company, LLC through CHS Fund IV.
Rinker Boat Company is one of the world’s
largest independent boat builders. Founded in 1945 by the
Rinker family, the Company is celebrating its 60th year of
building boats. Under the leadership of John Rinker for the
last 50 years, the Rinker name is established as a premier
brand in recreational boating. Headquartered in Syracuse,
Indiana, the manufacturing facility and corporate office are
located on the edge of Lake Wawasee. Rinker features 16 models
including cruisers, cuddys and runabouts, ranging in size
from 19 to 43 feet.
CHS partnered with Rinker President Kim Slocum
in making the investment. With over 30 years of service, Slocum
has been instrumental in the Company’s success. "Rinker
Boats is a dominant force in the pleasure boat market and
currently ranks second in the 25 foot and up category,”
said Slocum. “Our new partnership with CHS provides
us with the tools to expand our facilities and introduce new
cruiser, runabout and cuddy models. Together, we will focus
on continuing the aggressive growth the company has experienced
over the last decade.”
The capital and operating experience of CHS,
coupled with Rinker’s boat building expertise, will
enable the Company to increase capacity and broaden Rinker’s
geographic presence through selectively building the Company’s
dealer base. “Rinker’s strong market position,
impressive product portfolio and multiple growth opportunities
make it an exciting investment for our firm," said Steve
Brown, Partner at CHS. “We look forward to working with
Kim and the Rinker management team to accelerate the company’s
growth and strengthen its position as a premier boat builder.” |