Branford Rides the Tide! Fund II Invests in Leading Marina Services Business
NEW YORK, Oct. 12, 2023 /PRNewswire/ -- Branford Castle Partners, the New York City and Boca Raton, FL-based private equity firm, today announced that its affiliate Branford Castle Partners II, L.P. has made a strategic investment in Marine Floats, a specialty marine contractor providing environmental and regulatory advisory services, marina and floating dock design, construction and installation services, for commercial and residential customers in the Pacific Northwest. Marine Floats is the fifth portfolio company for Branford's second fund, which had its final close in 2021.
Based in Tacoma, Washington, Marine Floats designs, secures necessary permits for, and manufactures custom marinas, dock systems, covered moorage, and other waterfront structures in compliance with a rigorous regulatory environment. The Company's comprehensive model provides start-to-finish services for recreational marine-oriented construction projects, including biological evaluations, consulting, engineering, management of federal, state and local permitting processes, project design and management, fabrication and installation. The Company was founded in 1976 and serves residential and commercial customers including marinas, yacht clubs, ports and industrial facilities in both salt and fresh water.
Branford has teamed up with existing Owner and President Logan Brown to help the Company grow. Mr. Brown noted, "In partnership with Branford Castle, we are excited to expand our offerings and our reach, to provide even more high-quality services to our customers."
"The Branford team looks forward to partnering with Logan to continue to expand the breadth and reach of Marine Floats' services. We believe the Company's unique, integrated engineering and environmental consulting expertise delivers exceptional value to its customers," said Marilyn Yang, Principal.
"Branford and its affiliates have been successful investors in specialty marine businesses for decades, and we're eager to support Marine Floats on its voyage," said David Castle, Managing Partner.
Branford Castle was advised by its legal counsel Akerman LLP. Logan Brown was advised by Alexander Hutton, and by legal counsel K&L Gates. Terms of the transaction were not disclosed.
About Branford Castle Partners (http://www.branfordcastle.com/)
Branford Castle is a private market investor focusing on lower-middle-market investments, with a more than 30+ year history of helping to grow businesses. The firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it develops with its portfolio company managers. Branford has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics.
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SOURCE Branford Castle Partners
