S2 Yachts Inc. Enters into a Definitive Agreement with Malibu Boats Inc. for Sale of its Pursuit Boats Brand

Holland, Mich. – Malibu Boats Inc. (“Malibu”), a leading global manufacturer of recreational fiberglass boats, announced today that it has entered into a definitive agreement with S2 Yachts Inc. (“S2”) to acquire all assets of its Pursuit Boats (“Pursuit”) brand for a total consideration of $100 million.

Pursuit, located in Fort Pierce, Florida, is a leader in the saltwater outboard fishing boat market through its offering 15 models of offshore, dual console and center console boats. The saltwater outboard fishing market is one of the largest and fastest growing segments in the marine industry. Pursuit’s premium market position has been established over its 41-year history through a reputation for superior quality, performance and customer service.

“As a leader in the saltwater outboard fishing segment, Pursuit is an incredible addition to the Malibu family. The Pursuit brand maintains a strong reputation for luxurious appointments, innovation, and premium quality, and this highly complementary business creates strong strategic opportunities to enhance product development across our portfolio of brands. Together, we have an opportunity to broaden our outboard offering, while leveraging the manufacturing and design expertise of the respective teams to continue to deliver the premium products customers expect,” commented Jack Springer, Chief Executive Officer of Malibu Boats.

“Over the past 41 years, Pursuit Boats has established an unmatched premium brand through our incredible dealer network and longstanding commitment to our customers. As a trailblazer in its own right, Malibu is the perfect partner, as we maintain similar cultures with a shared passion for product and people, which has driven our collective long-term success. This transaction is as much about the right partner to steward Pursuit’s future as it is about the sale price. Malibu is

that right partner. The Slikkers family will continue to own and operate Tiara Yachts and Tiara Sport brands under the S2 Yachts umbrella and we are excited about that,” said Tom Slikkers, Chief Executive Officer of S2 Yachts.

The transaction is expected to close in the fourth calendar quarter of 2018, subject to customary closing conditions.

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