Robin McClendon, who owned SeaArk of Monticello and is a member of its founding family, poses with Correct Craft CEO and President Bill Yeargin after selling SeaArk to the larger private company.
Correct Craft of Orlando, Florida, announced on Tuesday its acquisition of SeaArk of Monticello and plans to name a new SeaArk president on Thursday.
Bill Yeargin, president and CEO of Correct Craft, said SeaArk has about 100 employees.
Yeargin said the new parent company wouldn’t make any personnel changes, but that the number of SeaArk employees will probably increase because Correct Craft wants to speed production and expand.
SeaArk won’t relocate as part of the deal.
The acquisition also marks the larger private company’s entry into the aluminum fishing boat market, Yeargin said. SeaArk is best known for its aluminum catfishing boats, although it also builds bass- and crappie-fishing boats, jon boats, duck boats and bay boats, according to a news release.
“We want to continue to grow the business,” Yeargin said. “Right now, we’ve got a great brand and a great business. We’ve got a several-months backlog for orders, which is good, but we want to make some investment to improve, speed up production, so we can build more boats, which means we can employ more people in Monticello, which we’re excited about.”
He said Correct Craft had already taken its first step in investing by spending $600,000 on new press brakes.
Yeargin also said Correct Craft brings to the table its 91 years in the industry and would help SeaArk with distribution. The parent company also offers more purchasing power and better benefits for SeaArk employees, he said.
Correct Craft has about 1,000 employees, 25 companies, 12 brands and a great culture that includes philanthropic outreach projects employees will be encouraged to participate in, Yeargin said.
Correct Craft marketing coordinator Camille Tyler said the company has a family-focused culture and the family-owned SeaArk was a good fit, just like the family-owned BassCat of Mountain Home, which Correct Craft purchased last year.
She said Correct Craft had worked to diversify its portfolio over the last few years and this acquisition helps accomplish that goal.
“The way we approach being a parent company is from more of a resource standpoint. We’re here to help you grow, to help SeaArk become more profitable and give it more exposure. We’re not, in day-to-day operations, very hands-on,” Tyler said.
SeaArk’s prior owner and a member of its founding family, Robin McClendon, called the decision to sell “bittersweet.”
“SeaArk Boats is successful today because of the many dedicated and talented team members who have worked hard to help our company thrive,” McClendon said in a news release. “I am very grateful to have worked alongside these people and I know that our team members, as well as our legacy, are in good hands with the Correct Craft team.”
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