Armada Acquisition Group has acquired Wing Inflatables, a supplier of tubes and sponsons used in the inflatable boat market.
Wing Inflatables is a supplier of tubes, sponsons, and foam collars to the inflatable boat and rigid inflatable boat market. Sponsons are projections from the sides of a watercraft that provide protection and stability, or are used to mount equipment such as armaments or lifeboats. Wing has recently designed and is launching a family of entirely new inflatable boats and accessories geared to the military Special Forces market. The company is based in Arcata, CA (www.wing.com).
“Wing is an exciting investment because the company remains the undisputed leader in its core market of providing tubes and sponsons, yet it also has a very promising growth opportunity with the new combat raiding crafts,” said Andrew Branaugh, president of Armada Acquisition Group.
“Our new combat raiding crafts, the P4.7 and P5.8, brings Wing into new markets and into a new level of growth,” said Elizabeth Wing, vice president of Wing Inflatables. “The time was right to bring in new resources that can help manage the growth, not only domestically but worldwide. Armada’s level of energy and enthusiasm combined with their success in growing companies in the past has convinced us that Armada is the best partner for us at this time.”
Armada Acquisition Group is based in San Francisco (no website found).
Woodbridge International (www.woodbridgegrp.com), an investment bank based in New Haven, CT, served as financial advisor to Wing Inflatables on the transaction.
© 2013 PEPD • Private Equity’s Leading News Magazine • 7-15-13