Correct Craft Acquires Indmar Marine Engines
ACQUISITION SIGNIFICANTLY EXPANDS COMPANY’S PROPULSION PORTFOLIO
MILLINGTON, Tenn., Nov. 7, 2022 – Today, Correct Craft announced the acquisition of Indmar Marine Engines, a pioneer and leader in the inboard marine engine segment with a hard-earned reputation for delivering world-class quality and reliability. Indmar will be operated by Correct Craft subsidiary Liberty Technologies which also manages PCM Engines, Crusader Engines, Levitator Engines, and Velvet Drive Transmissions.
While an important new member of Correct Craft’s portfolio of brands, Indmar will continue to operate independently, retaining its own brand and team members. Indmar will remain operating from its world headquarters in Millington, TN, while continuing to supply its boat-building manufacturers and network of dealers.
For over half a century, Indmar has been focused on the future, introducing new innovations and technologies that have enabled the sport and the industry to progress and grow. From the early adoption of fuel-injected engines to the introduction of green technologies that reduce exhaust emissions, Indmar has embraced opportunities to make its products better, improving the environment and the lives of boating enthusiasts and families across the world.
Chuck Rowe, former President of Indmar Marine Engines, commented, “I am proud of the company and brand that our family has built. The acquisition by Correct Craft provides significant opportunities for long-term growth while continuing to build and honor my family’s legacy; However, most importantly, the acquisition with Correct Craft provides additional security and opportunity for our employees, boat building partners, and network of dealers.” Rowe added, “There could not be a better company to sell our business to than Correct Craft. The values and culture of Correct Craft are one-of-a-kind, and I know Indmar is in good hands.”
Liberty Technologies President Mark McKinney stated, “We are excited to welcome the Indmar team into our Liberty Technologies family.” McKinney added, “The Rowe family has done an extraordinary job of leading Team Indmar and making outstanding advancements in the inboard marine industry. Though Chuck Rowe’s shoes will be hard to fill, I am excited about the opportunity to continue the legacy of Indmar and to work with the team to support and provide additional features, products, and opportunities that will elevate Indmar and their OEMs to new heights.”
CEO of Correct Craft, Bill Yeargin, stated, “I am tremendously happy to have Indmar join us as a part of the Correct Craft family. Chuck and his father have built a phenomenal company that resulted in both men’s induction into the Marine Industry Hall of Fame. I appreciate the trust they have placed in our team, and we will do our best to meet and exceed their expectations.”
Yeargin added, “Indmar has a strong team whom we respect greatly. We are excited to continue providing Indmar’s customers with products well beyond what we can imagine. We are looking forward to an exciting future!”
About Indmar Marine Engines
Indmar is the world’s largest privately held manufacturer of gasoline-powered inboard marine engines. Indmar has a pedigree going back nearly 51 years in the inboard marine industry and a proud tradition of pointing the way forward. Indmar was the first inboard manufacturer to deliver fuel injection, and custom-calibrated engines and the first to produce an inboard engine with a catalyzed exhaust, which is now the industry standard. Today, this legendary brand delivers an inimitable mix of unrivaled performance, meticulous craftsmanship, and ground-breaking innovations – charting a course for others to follow. Indmar operates advanced manufacturing facilities in the U.S. with distribution centers in Millington, TN, Merced, CA and Clarkston, WA. For more information, please visit www.indmar.com
About Correct Craft
Celebrating 97 years of excellence in the marine industry, Correct Craft is a Florida-based company with global operations. Focused on “Making Life Better,” the Correct Craft family includes Nautique, Centurion, Supreme, Bass Cat, Yar-Craft, SeaArk, Parker, and Ingenity boat companies, Pleasurecraft Engine Group, Indmar Marine Engines, Velvet Drive Transmissions, Watershed Innovation and Aktion Parks. For more information, please visit www.correctcraft.com