Platinum Equity has bought a majority of Genmar Holding's assets for $70 million, Trade Only Today reports. Platinum purchased a total of 11 brands, including Ranger, Stratos, Champion, Wellcraft, Four Winns, Larson, Glastron and others.

"We are pleased with the results of the auction process and look forward to bringing closure to this transaction so that the businesses can refocus their energies and resources on sales and service without the inherent distractions of being in bankruptcy," said chief restructuring officer Mark Sheffert.