AUSTIN, Texas--(BUSINESS WIRE)--The Marine Accessories Corporation (“MAC”) management team and Blue Sage Capital (“Blue Sage”) are pleased to announce that Blue Sage recently completed a purchase of MAC. Located in Maryville, TN, MAC is the leading designer and manufacturer of wakeboard towers and accessories and a leading producer of custom-patterned cockpit covers, bimini tops, and boat covers. Through its industry-leading brands and products, MAC serves a broad base of leading boat builders, dealers, retailers, e-commerce sites, distributors, and consumers directly.
Jim McBride, Co-Founder and Managing Member of Blue Sage, said, “MAC is poised to take advantage of both the recovery in the boating market and the proliferation in towers across all boat types. MAC is the clear leader in this space, and we are excited to provide capital to help the business accelerate its growth trajectory. We are honored and privileged to partner with such a proven and motivated team.”
Rick Reyenger, CEO of MAC, said, “Blue Sage’s investment is well timed with the rebound in the boating industry. We have a number of opportunities in front of us, and we are excited to partner with Blue Sage to help us move forward.”
Blue Sage was represented in the transaction by Graves Dougherty Hearon and Moody (legal), the Lockton Companies (insurance), and BKD (accounting).
About Blue Sage
Blue Sage Capital recently closed its second fund, Blue Sage Capital II, L.P. Blue Sage invests in profitable, growing, lower middle-market industrial, manufacturing, service and distribution companies with revenue of $20 to $100 million and EBITDA of $5 to $10 million. Of particular interest are opportunities to partner with founders as the first round of institutional capital in a recapitalization transaction and companies that enjoy leadership positions in niche industries.