BRP Inc.’s acquisition of Telwater Pty Ltd
BRP Inc. (TSX:DOO; NASDAQ:DOOO) is a global leader in the powersports vehicles, propulsion systems and boats markets. BRP’s distinctive portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on-and-off-road vehicles, Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion systems and Rotax engines for karts, motorcycles and recreational aircraft.
Telwater is Australia’s premier aluminium boat manufacturer, selling market-leading brands including Quintrex, Stacer, Savage and Yellowfin Plate. Telwater has manufacturing facilities in Coomera, Australia and manufactures over 8,000 boats and 5,500 trailers per annum.
On 1 August 2019, BRP announced the completion of the acquisition of an 80% interest in Telwater Pty Ltd. Paul Phelan, Telwater’s current owner and Managing Director, will continue to play an important role in the business and will hold 20% of the company’s shares. The acquisition will strengthen BRP’s global marine portfolio and presence within Australia’s boating market.
BRP engaged BDO Corporate Finance Sydney, led by Daniel Coote, to advise on the transaction regarding financial due diligence.