Magicfloat
Charter Member
Today,Soundings Trade Only ran the Hustler press release,but Saturday there were a couple of posts that a Canadian group,Oxford Financial,bought Fountain Friday.But nothing else has been posted. Anybody know what's true?
Headlines
What's up with Fountain sale?
- Thread starter Magicfloat
- Start date
WARPARTY36
E Dock
Hustler posted that their deal fell short.
Fountain
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Our acquisition of secured bank notes of Fountain Powerboats fell a few hours short to Oxford Investment as we were in meetings with Reggie Fountain at his facility on Thursday. It is our understanding that they will be able to run the bid up at the auction to 20 Million dollars. This number does not work to make this a viable investment from us as additional money will be needed to get employees back on the line, re-stock materials and keep the business up and running over the next two years while the country comes back from its current recession. We feel it is a sad day in the boating industry as our expertise and high standards would have helped enhanced the Fountain and Baja lines.
Our passion for building high quality boats is alive and well and we will continue to build Hustler’s full line of boats to the highest standards. We will be coming out with our new 29’ in our Rockit Series at the Miami Boat show to fill that current void in the market place and would like to thank everyone who wished us well over the last few weeks.
We will be looking at new ventures in our industry in the coming months.
Fountain
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Our acquisition of secured bank notes of Fountain Powerboats fell a few hours short to Oxford Investment as we were in meetings with Reggie Fountain at his facility on Thursday. It is our understanding that they will be able to run the bid up at the auction to 20 Million dollars. This number does not work to make this a viable investment from us as additional money will be needed to get employees back on the line, re-stock materials and keep the business up and running over the next two years while the country comes back from its current recession. We feel it is a sad day in the boating industry as our expertise and high standards would have helped enhanced the Fountain and Baja lines.
Our passion for building high quality boats is alive and well and we will continue to build Hustler’s full line of boats to the highest standards. We will be coming out with our new 29’ in our Rockit Series at the Miami Boat show to fill that current void in the market place and would like to thank everyone who wished us well over the last few weeks.
We will be looking at new ventures in our industry in the coming months.
Sounds lke oxford is in and hustler out. Maybe darr is the main investor in oxford. Sounds like a company with more money than brains. They must be looking at past financials for this business and thinking it is a good idea. It is said that they could bid as much as 20mil wether that is a scare tactic or they would actually bid that much is stupid.
There is the info. I posted to slow.
There is the info. I posted to slow.
Last edited:
catastrophe
Registered
Oxford services is Canadian
But the wealth management firm Oxford Group is a US firm
But the wealth management firm Oxford Group is a US firm
Wobble
Charter Member
I thought it was foolish of them to make their intentions so clear prior to then auction. It takes time to put a 20 million bid together and Hustler put their rivals on plenty of notice.
US1Fountain
Charter Member
I agree. Not quite the brightest idea to do some pregloating. Guess it came back to bite them on their azz. Plenty were pulling for them though.
customryder
New member
maybe Hustler and focus on their own brand dealer network now... it is far from the best itself. (from what i seen)
just my o2 ct.
just my o2 ct.
Ratickle
Founding Member / Super Moderator
As I said before in another spot, if I were OuterLimits I would be making all kinds of noise about how I was gonna buy it just for a couple of the Fountain models but most of the Baja models to enhance our line.
(Even if I wasn't even considering it):sifone:
Maybe that's what was going on here?
(Even if I wasn't even considering it):sifone:
Maybe that's what was going on here?
dykstra
New member
Hilarious:willy_nilly:
Dranks 'N Skanks
New member
Its all posturing.
If Hustler truly intended on purchasing Fountain....to count their eggs before they hatched is a bad PR idea......but from the other perspective, putting out releases stating that you are going to resurect the name for the good of powerboating....deal falls through but Hustler is still going to fill the 29' void......it created a buzz about Hustler for a while, didnt it?
Maybe they arent going to purchase Fountain, but instead use some of Reggies "smoke and mirrors" marketing tactics.
If Hustler truly intended on purchasing Fountain....to count their eggs before they hatched is a bad PR idea......but from the other perspective, putting out releases stating that you are going to resurect the name for the good of powerboating....deal falls through but Hustler is still going to fill the 29' void......it created a buzz about Hustler for a while, didnt it?
Maybe they arent going to purchase Fountain, but instead use some of Reggies "smoke and mirrors" marketing tactics.
THEJOKER
New member
www.JokerPerformanceBoats.com has officially bought Fountain. We'll also be introducing our new twin step 28 in Miami!
Wobble
Charter Member
If that is the case then I am impressed:sifone:
Sean Stinson
Founding Member/Contributor
Oxford is a San Diego area based firm!!!!!
Frequency
New member
Lot's of scenarios here. Suppose you heard Fountain was going to be purchased in whole and build boats to compete with yours. You announce first, drive up the price, and then let them have it. Let the debt break their backs.
Slandrew
New member
DollaBill
New member
nice LOL:26:
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