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?
Thread: What's up with Fountain sale?
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09-21-2009 03:04 PM
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09-21-2009 03:05 PM
I am sticking with the story that Darr bought it and it is going to be Super V Cove.
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09-21-2009 03:25 PM
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.
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09-21-2009 03:27 PMSounds 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.Last edited by db71; 09-21-2009 at 03:28 PM. Reason: posted to slow
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09-21-2009 03:51 PMOxford services is Canadian
But the wealth management firm Oxford Group is a US firm
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09-21-2009 04:21 PMMark
Everybody should believe in something; I believe I'll have another drink.
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09-21-2009 05:28 PMmaybe 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.
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09-21-2009 05:36 PMAs 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)
Maybe that's what was going on here?Getting bad advice is unfortunate, taking bad advice is a Serious matter!!
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09-21-2009 05:57 PM
will we soon see beak molds on ebay???
P-4077 "The Swamp" S.B.Y.C. and Michigan medboat mothership
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09-22-2009 08:23 AM
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.
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09-22-2009 08:28 AM
www.JokerPerformanceBoats.com has officially bought Fountain. We'll also be introducing our new twin step 28 in Miami!
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09-22-2009 12:48 PMI know you guys can read because you've all given me grief about previous articles, ha-ha. The Trade Only story didn't say Oxford Group. It said Oxford Financial, which according to the company's website, is based in Indiana. Guess we'll find out in a week or two.
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