MPE Partners, along with portfolio company Waterfront Brands of Fergus Falls, MN, announced the acquisition of Tide Tamer of Snow Hill, NC. Tide Tamer is a leading manufacturer and distributor of a full line of aluminum watercraft lifts, docks, and related waterfront accessories, primarily serving residential and commercial saltwater markets in the Southeastern United States.
MPE and Waterfront partnered in the transaction with Tide Tamer's owners, Buzz Shackelford and Brad Griffin. Corey Duke, CEO of Waterfront, said, "Tide Tamer has become a true leader in the Southeast market by maintaining a strong brand name through its laser focus on customer service and product quality. We look forward to working together to support Tide Tamer's customers and continued growth."
Joe Machado, Partner at MPE, added, "This combination helps bolster Waterfront's footprint in the Southeast, enhances Waterfront's existing product offering, and gives Waterfront a new channel to sell through with the addition of Tide Tamer's Boat Lift Warehouse platform. We are thrilled to bring Tide Tamer under the Waterfront umbrella to accelerate the growth of the combined businesses."
Buzz Shackelford and Brad Griffin said, "We're incredibly proud to have built Tide Tamer into the company it is today, and we could not be more excited for Tide Tamer's next chapter of growth as part of the Waterfront Brands family. Waterfront has an outstanding reputation in the industry and is an excellent fit for Tide Tamer to continue serving our customers and employees."
Tree Line Capital Partners, Manulife Investment Management, Northwestern Mutual Capital, and LBC Credit Partners provided financing to support the transaction. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal counsel for MPE Partners. Alcon Partners acted as the investment advisor to Waterfront. Terms of the transaction were not disclosed.
