Ranger announces new partnership

Wood Manufacturing, Inc., the home of Ranger Boats, announced in a press release today that it has embraced new ownership as the previously announced acquisition by Platinum Equity was finalized. The transaction, which was approved Jan. 13 by the U.S. Bankruptcy Court in St. Paul, Minn., also gives Platinum Equity ownership of several other leading boat brands previously under the Genmar umbrella.

Wood Manufacturing will be operated independently from the other divisions and will continue under the leadership of the existing local management. Both initiatives are designed to maintain the company’s focus on quality products and longstanding commitment to the sport of fishing. In addition, the same management team will also oversee the Stratos and Champion brands

“Ranger has always been the leader in its marketplace, with an established brand, broad product line and extremely loyal customers," said Platinum Equity's Louis Samson. "It’s an extraordinary company and we’re excited and privileged to partner with this outstanding management team. We are totally committed to helping our new partners continue to thrive and ensure their leadership position well into the future.

“Their focus on bringing quality products and services to their dealers and family of owners will only intensify through our partnership.”

Said Ranger president Randy Hopper: “We couldn’t be more pleased. Our capital structure going forward will allow us to keep our focus where it should be – building the most sought-after fishing boats in the world.”

Added company founder Forrest L. Wood: “It’s great to see this partnership promoting so many unique opportunities. The Ranger family is full of wonderful, talented folks and Nina and I are so proud to be a part of it all. We look forward to continuing the programs that have served Ranger well for more than 40 years.

"Building the best product and encouraging increased participation in a sport for all ages have always been our goals, and we all look forward to a thriving relationship with our new partner.”

According to Hopper, Ranger Boats enters 2010 with the strongest model lineup in its 40-plus-year history. The new Z521 Comanche recently received Trailer Boats magazine's 2010 Excellence in Design award for freshwater fishing boats.