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Old 02-18-2022, 05:23 PM   #1
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Defender Industries has been aquired

A big move in the marine industry. Canadian powersports company FortNine, which sells equipment through an e-commerce platform, yesterday announced that it acquired Defender Industries in partnership with private equity firm Novacap.

https://www.tradeonlytoday.com/indus...ource=hs_email
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Old 02-18-2022, 05:51 PM   #2
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I just saw that...and it makes me a bit nervous 'cuz private equity focus is almost always entirely on profit, whereas Defender's focus has always been on giving buyers the "best bang for their buck."


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Old 02-18-2022, 05:54 PM   #3
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Defender has become my go to source lately. Hope it doesn’t change too much.
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Old 02-18-2022, 06:01 PM   #4
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I share Peggie's concerns. Although most businesses want to make a profit, I know from experience that private equity firms take that to a whole different level. I can't imagine this being a positive thing for Defender's customers, but we'll soon see.
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Old 02-18-2022, 06:08 PM   #5
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Defender has become my go to source lately. Hope it doesn’t change too much.
Same with me. I receive items next day when ordering ground shipping. I expected a Christmas card from them considering all I spent with them last season but excellent service is equally appreciated.
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Old 02-18-2022, 06:23 PM   #6
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A big move in the marine industry. Canadian powersports company FortNine, which sells equipment through an e-commerce platform, yesterday announced that it acquired Defender Industries in partnership with private equity firm Novacap....]
Oh that's never good. Rats, I've been making that trek to Waterford since I was a teenager with my Blue Jay. They're doomed.
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Old 02-18-2022, 06:52 PM   #7
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They will be okay for a year or so. After that, the VC fees and interest will start weighing them down (assuming VC playbook). I have purchased some stuff from Hodges and been happy.

Great run while it lasted. I feel for the employees. On the end, they feel the biggest changes (again, assuming VC playbook)

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Old 02-18-2022, 06:56 PM   #8
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There is a big difference IMO of those outfits looking to be profitable long term and those looking to make short V term profits.
Only time will tell...
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Old 02-18-2022, 07:07 PM   #9
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There is a big difference IMO of those outfits looking to be profitable long term and those looking to make short V term profits.
Only time will tell...
Playbook is to load with debt, pay fees to VC guys, strip benefits from employees, raise fees to customers.

Victims of this are many including West Marine, Hinkley Yachts, Gibson Guitars, etc.

Hope I'm wrong.

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Old 02-18-2022, 07:16 PM   #10
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Aww crap. They're pretty much my go to for a lot of stuff. And for certain things like chain, nobody can touch their pricing. If this ruins them like I fear it will, I'm going to be pretty pissed. There are only a handful of good marine supply places around.
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Old 02-18-2022, 07:25 PM   #11
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I like that they sell hose by the foot.
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Old 02-18-2022, 08:21 PM   #12
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Defender wants to make a profit? Is that a bad thing???
West marine is having trouble finding basic things such as 1" reenforced black rubber hose.
I have had an order in for a length of hose for over 2 weeks. I have bought a 1"x12 ft length from a their competitor.
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Old 02-18-2022, 08:27 PM   #13
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Defender wants to make a profit? Is that a bad thing???
West marine is having trouble finding basic things such as 1" reenforced black rubber hose.
I have had an order in for a length of hose for over 2 weeks.I have bought a 12 ft length from a their competitor.
Wanting to make a profit is fine. It's when they get short sighted and sacrifice everything to maximize short term profit that things get ruined.
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Old 02-18-2022, 08:44 PM   #14
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I like that they sell hose by the foot.
Reminds me of this classic:



~A
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Old 02-18-2022, 08:47 PM   #15
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I haven't shopped there in a while, but they used to be first on my list. For a while there (OK, maybe 8-9 years ago now) things seemed to take a bit of a nosedive. Around the same time they had labor troubles. I think they got over a lot of it, but they never seemed to recover that #1 spot in price and service.


I can't imagine this will bring them anything but further down.


The venture capitalists will do what they always do. Stop selling all that low-margin boat gear and load up on fashion items. Cut inventory. Cut pay and benefits. Increase fees. We've seen it all before.
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Old 02-19-2022, 07:09 AM   #16
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Reminds me of this classic:

I may well have seen that when it was first aired on UK TV back in '76. Reminds me of Basil Brush skits, too.

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Old 02-19-2022, 07:40 AM   #17
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First thing to go will be the catalog.

RIP Defender!

Can Hamilton Marine or Hodges take up the gautlet?
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Old 02-19-2022, 07:53 AM   #18
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Well that is sad. They always seemed to have a selection of the hard to find stuff with great manufacturer documentation. If you needed a 1/2" anchor shackle that's load rated, they always carried a great selection with the manufacturer's dimensional information on the website, so you know it would fit your application.

I like Hodges also, but the search engine on their website can be a PIA.

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Old 02-19-2022, 08:49 AM   #19
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Does anyone have any updates on West Marine since their sale?
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Old 02-19-2022, 08:54 AM   #20
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I hold out a little more hope only because FortNine is a real and operational company running a business similar to Defender but in the Powersports market. So it's not just a company buying monopoly pieces. That said, I can't even open FortNine's web site, so maybe they aren't as operational as one might hope.....
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