OAKBROOK TERRACE, IL – October 8, 2024 – Prairie Capital Advisors, Inc. (“Prairie”), a leading middle-market investment bank, acted as financial advisor to Marine Technology, Inc. (“Marine Technology”, “MTI”, or “Company”) in the transition of the company into an employee stock ownership plan (“ESOP”). Prairie acted as exclusive financial advisor in this transaction to Marine Technology and its shareholders and was led by Rocky Fiore, Tom DeSimone, and Joseph Labetti of Prairie. Terms of the transaction were not disclosed.
Since 1998, Marine Technology, Inc. (“MTI”) has been a leading manufacturer of high-performance catamarans and center console boats, all custom-built to reflect the unique preferences of each client. Based out of Wentzville, MO, MTI employs over 200 people across its two facilities in both Missouri and Florida. With a focus on exceptional craftsmanship and the latest technological advancements, MTI boats are the top choice for quality and performance: whether for offshore racing, fishing, poker runs, or family outings around the globe.
Prairie worked closely with the leadership team and sellers, providing ESOP advisory expertise, and managing the preparatory, due diligence and negotiation phases of the ESOP transaction, as well as structuring the financing for the transaction.
“We had a great experience working with Prairie. The whole team was professional from start to finish. They worked tirelessly with us throughout the whole process to ensure all of our needs were met,” said Randy Scism, Founder and President of Marine Technology, Inc.
“It was an absolute honor to advise MTI on its transition to an ESOP. Randy and his team have built a wonderful business that puts the customer at the center of everything they do. As an ESOP, MTI’s employees will now have a meaningful opportunity to participate in the future success of the company,” said Rocky Fiore, Managing Director and COO at Prairie.
Tom DeSimone, Managing Director at Prairie, also added, “We are thrilled to have played a pivotal role in the MTI ESOP transaction, a significant milestone that not only empowers employees but also honors the incredible legacy of innovation and excellence that MTI has cultivated over the years.”
About Prairie Capital Advisors
Prairie is a leading financial advisory firm specializing in creating and executing ownership transition strategies for middle-market companies nationwide. In 2023, Prairie was named ESOP Investment Bank of the Year by M&A Atlas. For more information, visit www.prairiecap.com.
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Media Contact
Wendy Gugora, Director of Marketing
Prairie Capital Advisors, Inc.
630.413.5574
wgugora@prairiecap.com
