Correct Craft buys a cable park???

[TxJole]

ORLANDO, FLA (August 17, 2012) — Today Correct Craft announced its purchase of the Orlando Watersports Complex (OWC), the world’s premier cable wake park, effective August 20.

OWC, the world’s most visited wake park (located in Orlando, Florida) is a must-visit destination for wakeboarders and skiers from all over the world. OWC’s three cable systems combined with a boat lake (where riders and skiers can train behind Nautique boats) provide an unparalleled opportunity for watersports enthusiasts to enjoy their sport in the world’s number one tourist destination.

Rene Hofmann, Founder and General Manager of OWC, stated “I greatly admire Correct Craft and its team as well as the company’s prestigious Nautique boat brand. I am thrilled that the watersports industry’s best and strongest company is acquiring OWC and that I have the opportunity to be a part of their team.” “I look forward to working with the Correct Craft team on not only ensuring OWC remains the world’s premier cable park but also exploring other opportunities for us to expand in this growing segment of our industry,” Hofmann added.

Correct Craft’s President/CEO Bill Yeargin stated “I have visited cable parks all over the world and OWC is the best in the world. We view OWC as complementary to our Nautique boat business and will work with Rene to continue bringing people into our industry.” “We are also excited to have Rene join our team and work with us to further enhance OWC while also pursuing other cable opportunities around the globe,” added Yeargin.

To read President/CEO Bill Yeargin’s Nautique Insider blog about Correct Craft’s acquisition of OWC click here.

The Orlando Watersports Complex (OWC) is a unique watersports park designed for wakeboarding, wakeskating, kneeboarding and water skiing. Established in 2001, OWC has become the premier locale for riders and skiers of all levels. From beginning riders just wanting to try the sport for recreation, to professional wakeboarders and skiers from all over the world, OWC caters to all. To learn more, visit www.orlandowatersports.com.



http://www.nautique.com/press/

[slob02]

Great decision!!!!

[AllianceBJJ]

Supporting a cable park......another reason to increase prices of the boats.....Great!!!

[TxJole]

From Yeargins blog it not going to be just one park, they formed a division.

Since I joined Correct Craft over five years ago I have had the opportunity to travel all over the world representing our company and our Nautique boat brand. I have met with many people in all aspects of our industry in every corner of the world and it seems like almost every trip I take includes a visit to a cable park.

The past few years the cable park industry has easily become the fastest growing segment of the watersports world. While some people in the boat business have, frankly, found this growth threatening, our team at Correct Craft has wholeheartedly embraced it. We have viewed cable parks as a great way to bring people into our industry.

While there are many great cable parks around the world none have impressed me more than our hometown park, Orlando Watersports Center (OWC). Our Nautique brand has had a strategic alliance with OWC since the park first opened and I have had the opportunity to visit OWC many times. Over the past five years, I have come to immensely respect OWC’s founder and General Manager Rene Hofmann and I am proud to call Rene a good friend.

So, when our team began exploring opportunities to expand in this fast growing segment of our market it made sense to first look at OWC. OWC is in our hometown, has a stellar reputation and brand, is located in the world’s most visited destination and Rene and I have spoken many times about how we could work together more closely. With that said, I am happy to announce that Correct Craft has acquired OWC.

Many people have already begun to wonder how this deal impacts Correct Craft, OWC, Nautique and Rene. I will try to address each of those subjects as follows:

•Correct Craft – Correct Craft is the parent company and will own our Nautique boat building company, OWC through Correct Craft’s subsidiary Aktion Parks, and a few other related entities. We are proud of our Correct Craft heritage and even with its incredible past and heritage we believe Correct Craft’s best days are still ahead. We plan to continue investing in and growing both Correct Craft’s boat and cable businesses.
•OWC – We plan to apply Nautique’s culture of continuous improvement to OWC. We already have a list of investment opportunities at OWC that will enhance the park as a destination for watersports enthusiasts from all over the world. OWC’s best days are still ahead!
•Nautique – We are going to keep on building the world’s best watersports boats. We have some really exciting things happening at Nautique and the future is very bright!
•Rene – Rene has agreed to continue as a minority partner in OWC and I am thrilled to be working more closely with him. Rene will work as part of our team not only helping with the integration of OWC but also pursuing other opportunities for us in the cable park industry. Rene is an amazing guy who is highly respected and I am excited about what we will do together.
•Aktion Parks – This is a new Correct Craft subsidiary we have formed to manage our cable park related investments. We believe cable will continue to grow and be an important part of our industry and will be looking forward to invest in ways that provide fun opportunities for our customers and benefit our Nautique dealers. You will be seeing more of the Aktion brand!
Finally, I recently took some time to wakeskate at OWC and it was a blast. If you have not had a chance to visit OWC yet we encourage you to stop by on your next visit to Central Florida!

Exciting days are ahead!

To learn more check out the OWC website at

[TxJole]

http://www.nautique.com/blog/index/o...ts-complex-owc

[1sicknautique]

they are in the process of building the largest cable park is the US here on my lake. "Lake Allatoona" super stoked!!!!!

[TxJole]

Just wonder how long it takes before they figure out how to put a wake to it. Oh and they will!

[jrcarte78]

Interesting strategic play. Wonder what their thought process was? Will cable parks bring more people into water sports and thus Nautiques?

[acs220]

Interesting strategic play. Wonder what their thought process was? Will cable parks bring more people into water sports and thus Nautiques?

Bingo!!

[TxJole]

Or they know thier boats won't meet everyones price point so why not market a product to a lower price point with out devaluing the Nautique market share. I truly think its more to invite a crowd to the sport with the Nautique name plastered all over it for maybe a future sale. But both ways of thinking is smart on thier part.