Warbird Marine Holdings Announces the Acquisition of Yellowfin Yachts
Warbird becomes the industry leader of premium saltwater center console boats with combination of Yellowfin Yachts and Invincible Boat Company
WEDNESDAY, JUNE 2, 2021 (SARASOTA, FL): Warbird Marine Holdings, formed by EagleTree Capital to invest in category-leading boat builders and managed by industry veteran John Dorton, announced it has completed the acquisition of Yellowfin Yachts. Yellowfin will be a separately managed sister company to Invincible Boat Company, which Warbird acquired in 2019. With this acquisition, Warbird becomes the largest and best capitalized designer and builder of custom offshore fishing boats.
Founded by Wylie Nagler in 1998, Yellowfin pioneered the premium center console category. In the 23 years since, Yellowfin has established itself as the most recognized brand in its segment and synonymous with the saltwater lifestyle.
“We are delighted to add Yellowfin to our Warbird platform. Yellowfin is at the pinnacle of their segment both in product line up and brand prestige,” said John Dorton, CEO of Warbird. “The Yellowfin team will remain in place at their Sarasota headquarters with Wylie Nagler as President. Wylie will continue to focus on the products and relationships that have made Yellowfin a legendary brand.”
“At Yellowfin, we have always strived to build the best boat by using the best materials — the best hardware, the best systems,” said Wylie Nagler, Founder and President of Yellowfin Yachts. “Joining forces with Warbird and John Dorton gives us the scale and resources of the Warbird platform, without changing Yellowfin’s DNA or our relentless focus on quality.”
Warbird will invest in Yellowfin’s facilities, people, and new product development – the same playbook that has made Invincible one of the fastest growing brands in the industry. Yellowfin and Invincible will continue to be managed independently.
“Both the Yellowfin and Invincible brands have their own personalities and design philosophies, and we intend to keep it that way,” Dorton said.
Mr. Dorton stated, “the center console category is split between volume builders that can’t deliver the customization, quality and performance the premium buyer demands, and small prestige brands that build quality boats but lack the scale and investment to become truly state-of-the-art.”
“By combining the resources of these two great businesses, Warbird will be able to accelerate innovation, invest in quality and customer service, expand capacity and ensure timely deliveries to our valued customers and distributors,” Dorton said. “Our goal is to set a new bar for the premium center console segment – world-beating boats with a complete customer experience to match.”
Jones Day provided legal counsel to Warbird Marine Holdings. Barrett Evans of Montecito Capital served as financial advisor to Yellowfin Yachts and Katz Barron provided legal counsel.
About Warbird Marine Holdings: Parent company to Yellowfin Yachts and Invincible Boat Company, Warbird Marine Holdings brings together the discipline and business rigor of a larger company with the entrepreneurial brands of premium sportfishing boats. In doing so, Warbird strives to create a higher level of craftsmanship, build quality, durability and customer experience for brands in its group. For more information, please visit www.warbirdmarineholdings.com.
About EagleTree Capital: EagleTree Capital is a leading New York-based middle-market private equity firm that has invested approximately $2.7 billion of equity capital since inception. The Firm has completed over 35 private equity investments and over 70 add-on transactions over the past 20+ years. EagleTree primarily invests in the following sectors: media and business services, consumer, and water and specialty industrial. For more information, please visit www.eagletree.com.
1. Purpose.
This ESG Policy (the “Policy”), dated December 2023, reflects our current approach to considering and addressing Environmental, Social and Governance (“ESG”) factors, which has been further developed and refined since we became a PRI signatory in 2019 and adopted our initial ESG Policy in 2017. This Policy retains the same fundamental principles and our commitment to integrate ESG considerations into our investment management business and portfolio company ownership practices. In developing this Policy, we have considered a range of guidance, including the Principles for Responsible Investment, the American Investment Counsel Guidelines for Responsible Investment and the Sustainable Development Goals.
2. Commitment.
EagleTree has always strived to maintain a strong culture of good governance to ensure that it operates in a socially responsible manner. In furtherance of this ethos and in accordance with our responsibilities to our clients and other stakeholders, EagleTree is committed to identifying and considering ESG issues, risks and opportunities associated with potential portfolio company investments and engaging with portfolio companies on these matters as necessary during our ownership.
In addition, we remain committed to compliance with national, state and local labor laws in jurisdictions in which we invest and to provide a safe and healthy workplace consistent with national and local laws. EagleTree continues to maintain policies and procedures that prohibit bribery and other illegal payments to public officials consistent with U.S. federal and state laws. We have implemented a robust cyber-security framework in order to protect our systems, networks, programs, devices and Firm and investor data from cyber-attacks.
This Policy is intended to provide a broad framework for EagleTree’s overall approach to ESG. EagleTree recognizes that its approach to different ESG factors may vary among portfolio companies of different sizes, that fall within different industry sectors and that operate in different geographies. Therefore, EagleTree may incorporate and alter different elements of this Policy for different portfolio companies across the stages of the investment management process, including during pre-acquisition, throughout ownership, and when positioning a portfolio company for an exit.
4. Roles and Responsibilities.
EagleTree’s ESG initiatives are overseen by its ESG Committee, which includes EagleTree’s two Co-Managing Partners and other members of senior management. The ESG Committee meets at least quarterly. An ESG Sub-Committee has also been formed to function as an ESG working group that carries out the day-to-day aspects of EagleTree’s ESG efforts and initiatives and is available as a resource for investment team members. The ESG Sub-Committee generally meets on a weekly basis and its responsibilities include: (i) engaging with EagleTree’s deal teams on pre-acquisition ESG due diligence matters; (ii) engaging with EagleTree’s third-party ESG specialists to conduct annual portfolio company-level ESG reviews; (iii) responding to investor and other stakeholder ESG requests; (iv) conducting annual employee training; and (v) reviewing and updating this Policy and EagleTree’s ESG program, as necessary, from time to time. The ESG Committee also aims to ensure that all EagleTree employees are aware of EagleTree’s culture of social responsibility and any amendments to this Policy.
As applicable, EagleTree’s Investment Committees in partnership with the ESG Sub-Committee oversees and considers ESG issues, if any, that are material to a potential portfolio company investment. With assistance from the ESG Sub-Committee and outside ESG specialists, as appropriate, EagleTree’s deal teams manage and monitor material ESG issues that have been identified during portfolio company ownership.
5. ESG Investment Process Integration
- Pre-Acquisition Process: During pre-acquisition, EagleTree will aim to:
- Incorporate detailed ESG considerations into our pre-investment decision-making process in order to better assess ESG risks and opportunities and to provide us with an initial overview of a potential portfolio company’s ESG profile.
- Tailor specific ESG inquiries and approaches based on various investment factors including the core industry sector of a particular investment.
- Engage with outside advisors, as necessary, to analyze and address ESG issues, risks and opportunities that arise.
- Consider whether a potential portfolio company’s business aligns with EagleTree’s core values.
- Identify any business line that would cause us to refuse to invest, including: (i) the manufacture or sale of handguns, assault weapons and/or ammunition; (ii) the distribution or sale of pornography; (iii) the direct and primary production or packaging of tobacco or alcoholic beverages; (iii) the production, sale, trade or distribution of illegal drugs; or (iv) a business that would pose a high reputational risk to EagleTree, its clients and/or other stakeholders. This list is not exhaustive and is qualified by our legal documentation and any applicable side letters governing our investments.
- Ownership Process: During ownership, EagleTree will aim to:
- Work with portfolio companies to advance EagleTree’s ESG principles with the goal of improving long-term performance and minimizing adverse impacts in these areas.
- Track ESG-related metrics across our portfolio companies and engage and collaborate with portfolio companies to consider recommendations from these findings.
- Work with portfolio companies to integrate sustainability considerations into their business plans, as applicable.
- Work with portfolio companies to address ever-changing cyber-security considerations.
- Respect the human rights of those affected by our investment activities and seek to confirm that our portfolio company investments do not support companies that utilize child or forced labor or maintain discriminatory policies.
- Exit Process: In positioning a portfolio company for an exit, EagleTree will aim to do the following, as applicable:
- Highlight the portfolio company’s progress on ESG matters.
- Summarize the positive impact that our integration of ESG initiatives had on the portfolio company’s business and/or culture.
6. Diversity and Inclusion.
EagleTree continues to promote diverse perspectives. In this regard, EagleTree has adopted a Diversity & Inclusion Statement and, in 2021, became a signatory to ILPA’s Diversity in Action Initiative. EagleTree seeks to improve diversity and inclusion within the Firm, across its portfolio company investments and in the private equity industry, where possible.
7. Social Impact
EagleTree has a history of charitable giving and an active Philanthropic Committee that strives to support a number of charities from both a financial and volunteer perspective and carries out the Firm’s initiatives in this regard. Our Philanthropic Committee, identifies several nonprofit charities each year with whom employees volunteer and EagleTree supports. EagleTree continues to encourage all of its employees to actively engage in nonprofit volunteer activities and giving in our communities.
8. Transparency.
EagleTree aims to provide timely information to its clients and other stakeholders on the matters addressed herein and to work with them to foster transparency with regard to its ESG initiative. EagleTree intends to engage with clients and stakeholders, from time to time, in dialogue regarding how we can manage ESG issues in a way that is consistent with their initiatives.
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Yellowfin Yachts Sold To Warbird Marine Holdings
- Updated: June 2, 2021
Warbird Marine Holdings, formed by EagleTree Capital to invest in category-leading boat builders and managed by industry veteran John Dorton, announced it has completed the acquisition of Yellowfin Yachts. Yellowfin will be a separately managed sister company to Invincible Boat Company, which Warbird acquired in 2019. With this acquisition, Warbird becomes the largest and best capitalized designer and builder of custom offshore fishing boats.
Founded by Wylie Nagler in 1998, Yellowfin pioneered the premium center console category. In the 23 years since, Yellowfin has established itself as the most recognized brand in its segment and synonymous with the saltwater lifestyle.
“We are delighted to add Yellowfin to our Warbird platform. Yellowfin is at the pinnacle of their segment both in product line up and brand prestige,” said John Dorton, CEO of Warbird. “The Yellowfin team will remain in place at their Sarasota headquarters with Wylie Nagler as President. Wylie will continue to focus on the products and relationships that have made Yellowfin a legendary brand.”
“At Yellowfin, we have always strived to build the best boat by using the best materials — the best hardware, the best systems,” said Wylie Nagler, Founder and President of Yellowfin Yachts. “Joining forces with Warbird and John Dorton gives us the scale and resources of the Warbird platform, without changing Yellowfin’s DNA or our relentless focus on quality.”
Warbird will invest in Yellowfin’s facilities, people, and new product development – the same playbook that has made Invincible one of the fastest growing brands in the industry. Yellowfin and Invincible will continue to be managed independently.
“Both the Yellowfin and Invincible brands have their own personalities and design philosophies, and we intend to keep it that way,” Dorton said.
Mr. Dorton stated, “the center console category is split between volume builders that can’t deliver the customization, quality and performance the premium buyer demands, and small prestige brands that build quality boats but lack the scale and investment to become truly state-of-the-art.”
“By combining the resources of these two great businesses, Warbird will be able to accelerate innovation, invest in quality and customer service, expand capacity and ensure timely deliveries to our valued customers and distributors,” Dorton said. “Our goal is to set a new bar for the premium center console segment – world-beating boats with a complete customer experience to match.”
Jones Day provided legal counsel to Warbird Marine Holdings. Barrett Evans of Montecito Capital served as financial advisor to Yellowfin Yachts and Katz Barron provided legal counsel.
About Warbird Marine Holdings
Parent company to Yellowfin Yachts and Invincible Boat Company, Warbird Marine Holdings brings together the discipline and business rigor of a larger company with the entrepreneurial brands of premium sportfishing boats. In doing so, Warbird strives to create a higher level of craftsmanship, build quality, durability and customer experience for brands in its group. For more information, please visit warbirdmarineholdings.com .
About EagleTree Capital
EagleTree Capital is a leading New York-based middle-market private equity firm that has invested approximately $2.7 billion of equity capital since inception. The Firm has completed over 35 private equity investments and over 70 add-on transactions over the past 20+ years. EagleTree primarily invests in the following sectors: media and business services, consumer, and water and specialty industrial. For more information, please visit eagletree.com .
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Warbird Marine Holdings acquires Yellowfin Yachts
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About Warbird Marine Holdings: Parent company to Yellowfin Yachts and Invincible Boat Company, Warbird Marine Holdings brings together the discipline and business rigor of a larger company with the entrepreneurial brands of premium sportfishing boats. In doing so, Warbird strives to create a higher level of craftsmanship, build quality ...
Warbird now owns Yellowfin Yachts and Invincible Boat Company. By Staff ... Parent company to Yellowfin Yachts and Invincible Boat Company, Warbird Marine Holdings brings together the discipline and business rigor of a larger company with the entrepreneurial brands of premium sportfishing boats. In doing so, Warbird strives to create a higher ...
With this acquisition, Warbird becomes the largest and best capitalized designer and builder of custom offshore fishing boats. Founded by Wylie Nagler in 1998, Yellowfin pioneered the premium center console category. In the 23 years since, Yellowfin has established itself as the most recognized brand in its segment and synonymous with the ...
With this acquisition, Warbird becomes the largest and best capitalized designer and builder of custom offshore fishing boats. Founded by Wylie Nagler in 1998, Yellowfin pioneered the premium center console category. In the 23 years since, Yellowfin has established itself as the most recognized brand in its segment and synonymous with the ...
Warbird Marine Holdings, formed by EagleTree Capital to invest in category-leading boatbuilders and managed by industry veteran John Dorton, announced it acquired Yellowfin Yachts. Financial terms were not disclosed. Yellowfin will be a separately managed sister company to Invincible Boat Co., which Warbird acquired in 2019.
Yellowfin Acquired By Warbird Marine Holdings Most of you have likely heard that Warbird Marine Holding completed its purchase of Yellowfin recently, leading our favorite boat brand into new and uncharted waters. Warbird had previously purchased Invincible Boats in 2019, and the addition of Yellowfin undoubtedly makes the new company a major player in the … Continue reading "Yellowfin ...
The new Yellowfin 54 is the flagship of the company's sportfishing fleet. Warbird Marine Holdings, which was formed by EagleTree Capital and is managed by industry veteran John Dorton, has acquired Yellowfin Yachts. Financial terms were not disclosed and Yellowfin will be a separately managed sister company to Invincible Boat Co. that Warbird ...
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Warbird Marine Holdings, formed by EagleTree Capital to invest in category-leading boat builders and managed by industry veteran John Dorton, announced it has completed the acquisition of Yellowfin Yachts. Yellowfin will be a separately managed sister company to Invincible Boat Company, which Warbird acquired in 2019. With this acquisition, Warbird becomes the largest and best […]
Warbird Marine Holdings, parent company to Invincible Boat Co. in the US, has acquired Yellowfin Yachts. Florida-based Yellowfin will be a separately managed sister company to Invincible, which Warbird acquired in 2019. This latest acquisition, for an undisclosed sum, means that Warbird Marine Holdings, formed by EagleTree Capital to invest in ...