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02-18-2022, 05:23 PM
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#1
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TF Site Team
City: Jacksonville
Join Date: Nov 2008
Posts: 11,032
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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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02-18-2022, 05:51 PM
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#2
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Guru
City: AR
Join Date: Jul 2009
Posts: 2,423
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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."
--Peggie
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02-18-2022, 05:54 PM
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#3
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 18,558
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Defender has become my go to source lately. Hope it doesn’t change too much.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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02-18-2022, 06:01 PM
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#4
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Guru
City: Stratford, CT
Vessel Name: Blue Moon
Vessel Model: Mainship Pilot 355
Join Date: Jan 2019
Posts: 3,732
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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.
__________________
“In my walks, every man I meet is my superior in some way, and in that I learn from him.” ― Ralph Waldo Emerson
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02-18-2022, 06:08 PM
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#5
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Guru
City: Owings, Md
Vessel Name: Graceland
Vessel Model: Mainship 34 MK1
Join Date: Jan 2016
Posts: 1,171
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Quote:
Originally Posted by Comodave
Defender has become my go to source lately. Hope it doesn’t change too much.
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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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02-18-2022, 06:23 PM
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#6
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Guru
City: Sioux Falls, South Dakota
Vessel Name: Xanadu
Vessel Model: Mainship 37 Motor Yacht
Join Date: Oct 2013
Posts: 2,201
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Quote:
Originally Posted by Larry M
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....]
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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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02-18-2022, 06:52 PM
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#7
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Guru
City: Saint Petersburg
Vessel Name: Weebles
Vessel Model: 1970 Willard 36 Trawler
Join Date: Mar 2019
Posts: 5,560
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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)
Peter
__________________
M/V Weebles
1970 Willard 36 Sedan Trawler
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02-18-2022, 06:56 PM
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#8
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TF Site Team
City: Seneca Lake NY
Vessel Name: Bacchus
Vessel Model: MS 34 HT Trawler
Join Date: Nov 2014
Posts: 7,087
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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...
__________________
Don
2008 MS 34 HT Trawler
"Bacchus"
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02-18-2022, 07:07 PM
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#9
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Guru
City: Saint Petersburg
Vessel Name: Weebles
Vessel Model: 1970 Willard 36 Trawler
Join Date: Mar 2019
Posts: 5,560
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Quote:
Originally Posted by Bacchus
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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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.
Peter
__________________
M/V Weebles
1970 Willard 36 Sedan Trawler
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02-18-2022, 07:16 PM
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#10
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Guru
City: Rochester, NY
Vessel Name: Hour Glass
Vessel Model: Chris Craft 381 Catalina
Join Date: Aug 2019
Posts: 6,425
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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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02-18-2022, 07:25 PM
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#11
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Moderator Emeritus
City: Au Gres, MI
Vessel Name: Black Dog
Vessel Model: Formula 41PC
Join Date: Jul 2015
Posts: 18,558
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I like that they sell hose by the foot.
__________________
Boat Nut:
If you are one there is no explanation necessary.
If you aren’t one, there is no explanation possible.
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02-18-2022, 08:21 PM
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#12
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Guru
City: Aventura FL
Vessel Name: Kinja
Vessel Model: American Tug 34 #116 2008
Join Date: Oct 2017
Posts: 9,971
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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.
__________________
The meek will inherit the earth but, the brave will inherit the seas.
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02-18-2022, 08:27 PM
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#13
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Guru
City: Rochester, NY
Vessel Name: Hour Glass
Vessel Model: Chris Craft 381 Catalina
Join Date: Aug 2019
Posts: 6,425
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Quote:
Originally Posted by OldDan1943
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.
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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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02-18-2022, 08:44 PM
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#14
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Guru
City: Gig Harbor, WA
Vessel Name: MoonShadow
Vessel Model: Wendon Skylounge 72'
Join Date: Oct 2012
Posts: 659
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Quote:
Originally Posted by Comodave
I like that they sell hose by the foot.
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Reminds me of this classic:
~A
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02-18-2022, 08:47 PM
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#15
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Guru
City: Southern Maine
Vessel Model: Prairie 36 Coastal Cruiser
Join Date: Dec 2012
Posts: 2,526
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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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02-19-2022, 07:09 AM
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#16
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Guru
City: Annapolis
Vessel Model: 58' Sedan Bridge
Join Date: Aug 2013
Posts: 6,593
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Quote:
Originally Posted by AlanT
Reminds me of this classic:
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I may well have seen that when it was first aired on UK TV back in '76. Reminds me of Basil Brush skits, too. 
-Chris
__________________
Chesapeake Bay, USA
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02-19-2022, 07:40 AM
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#17
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Senior Member
City: Rock Hall Md
Join Date: Nov 2019
Posts: 167
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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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02-19-2022, 07:53 AM
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#18
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Guru
City: Fort Myers, FL... Summers in the Great Lakes
Vessel Name: Slow Hand
Vessel Model: Cherubini Independence 45
Join Date: Dec 2010
Posts: 11,796
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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.
Ted
__________________
Blog: mvslowhand.com
I'm tired of fast moves, I've got a slow groove, on my mind.....
I want to spend some time, Not come and go in a heated rush.....
"Slow Hand" by The Pointer Sisters
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02-19-2022, 08:49 AM
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#19
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Guru
City: Centreville MD
Vessel Name: Resilient
Vessel Model: Helmsman Trawlers 38E
Join Date: Dec 2020
Posts: 1,222
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Does anyone have any updates on West Marine since their sale?
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02-19-2022, 08:54 AM
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#20
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Guru
City: Walkabout Creek
Join Date: Jan 2013
Posts: 8,818
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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.....
__________________
MVTanglewood.com
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