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SEATTLE, WA – Alexander Hutton is pleased to announce the strategic partnership between its client Marine Floats and Branford Castle Partners.
Based in Tacoma, Washington, Marine Floats designs, secures permits for, and manufactures custom marinas, dock systems, covered moorage, and other waterfront structures in compliance with a rigorous regulatory environment. With this partnership, Marine Floats has become a platform for further growth in the marine infrastructure market.
Marine Floats was founded in 1976 and serves residential and commercial customers including marinas, yacht clubs, ports and industrial facilities in both salt and fresh water. President Logan Brown began working in the business in 2011. Under his leadership, Marine Floats has grown significantly and strengthened its brand and reputation through industry leadership and commitment to customer satisfaction. In the Company’s new partnership with Branford Castle, Logan will continue to lead the day-to-day operation and strategic direction of Marine Floats.
Commenting on the transaction, Brown said, “The Alexander Hutton team was instrumental in executing this transaction and advising us every step of the way. I am enthusiastic about the growth opportunities that Marine Floats can pursue with this new partnership.”
Regarding the transaction, Alexander Hutton Managing Director Tony Richardson said, “Marine Floats has experienced tremendous growth with its innovative approach in a highly regulated sector. They have built a differentiated position in their industry and we are excited about the Company’s next phase of growth offered through this investment by Branford Castle.”
Legal counsel for Marine Floats was K&L Gates, and Branford Castle was represented by Akerman LLP. Terms of the transaction were not disclosed.
MORE ABOUT MARINE FLOATS
Marine Floats is a specialty marine contractor providing environmental and regulatory advisory services, marina and floating dock design, construction and installation services, for commercial and residential customers in the Pacific Northwest.
MORE ABOUT BRANFORD CASTLE
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses. The firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics.
MORE ABOUT ALEXANDER HUTTON
Led by a team of former business operators and executives who have built and sold companies, Alexander Hutton is a boutique, middle market M&A advisory firm that has completed 224 successful transactions. We offer a unique understanding of what it takes to run a business and an accessible team dedicated to client service. By running a high-touch, competitive transaction process for each of our clients, we are able to help them achieve their ideal outcome.