# MARINE PRODUCTS CORP (MPX) — merger [completed] Source: SEC API (secapi.ai) · situation sit_e4f6c2c078b9962e2d1c · retrieved 2026-08-11T16:10:43.877Z ## Overview MasterCraft Boat Holdings, Inc. designs, manufactures and sells recreational and performance boats under the Mastercraft, Crest, and Balise brands, with a portfolio spanning ski-tow-wake, pontoon and luxury pontoon segments. MasterCraft Boat Holdings, Inc. entered into a definitive agreement to combine with Marine Products Corporation (owner of Chaparral and Robalo brands). Marine Products shareholders will receive 0.232 shares of MasterCraft common stock and $2.43 in cash per Marine Products share, for a total cash consideration of $86 million and an implied per-share value of $7.79 based on MasterCraft's February 4, 2026 closing price of $23.12. The transaction is valued at $232.2 million, representing 7.2x Marine Products' expected EBITDA for the 12 months ending June 30, 2026 (after adjusting for ~$6 million in eliminated public company costs). Upon close, current MasterCraft shareholders will own 66.5% and current Marine Products shareholders will own 33.5% of the combined company. The transaction is expected to close in calendar Q2 2026, subject to customary closing conditions including regulatory approvals and shareholder approval from both companies. ## Terms - Counterparty: Marine Products Corporation · Deal value: $232.2M · Consideration: mixed · Stake: 33.5% · Price/share: $7.79 ## Key dates - Announced 2026-02-05 · Expected close 2026-06-30 · Completed 2026-05-15 ## Timeline - 2026-02-05 · 425 (0001104659-26-010961): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs and manufactures recreational powerboats under the Chaparral and Robalo brands.* Marine Products Corporation has entered into a definitive agreement to merge with MasterCraft Boat Holdings, Inc., a leading designer and manufacturer of premium performance and leisure powerboats. The combined company will operate a diversified portfolio of leading brands including Chaparral, Robalo, MasterCraft, Crest, and Balise. Chaparral and Robalo will continue as a separate operating unit within MasterCraft, with existing dealer agreements, ordering processes, and day-to-day contacts remaining in place. The transaction is expected to be completed in the second calendar quarter of 2026. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010961.txt - 2026-02-05 · 425 (0001104659-26-010957): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation is a boat builder and repairer with market leadership in recreational powerboats (Chaparral brand) and sport fishing powerboats (Robalo brand).* MasterCraft Boat Holdings, Inc. is acquiring Marine Products Corporation in an all-stock and cash transaction. The combined company is expected to generate pro forma revenues of approximately $560 million and adjusted EBITDA of approximately $64 million for the twelve months ending June 30, 2026. The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both MasterCraft and Marine Products shareholders and satisfaction of customary closing conditions. Marine Products shareholders will receive both share consideration and cash at closing. The combination is expected to be accretive to adjusted EPS in Fiscal 2027 and will eliminate approximately $6 million in annual net cost savings from Marine Products' public company and corporate overhead costs. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010957.txt - 2026-02-05 · 425 (0001104659-26-010953): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs and manufactures premium recreational powerboats under the Chaparral and Robalo brands.* Marine Products Corporation has entered into a definitive agreement to merge with MasterCraft Boat Holdings, Inc., a leading designer and manufacturer of premium performance and leisure powerboats. The combined company will operate with a diversified portfolio of leading brands including MasterCraft, Crest, Balise, Chaparral, and Robalo, supported by advanced product development and manufacturing platforms and an expanded dealer network. MasterCraft will maintain the Chaparral and Robalo leadership team, brands, and employees as a separate operating unit. The transaction is expected to be completed in the second calendar quarter of 2026. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010953.txt - 2026-02-05 · 425 (0001104659-26-010660): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation is a leading manufacturer of high-quality fiberglass boats under the brand names Chaparral and Robalo, with sterndrive and outboard recreation boats, and outboard sport fishing models.* Marine Products Corporation and MasterCraft Boat Holdings, Inc. announced execution of a definitive merger agreement on February 5, 2026. Under the terms, Marine Products shareholders will receive $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each Marine Products share owned. Based on MasterCraft's closing share price of $23.12 on February 4, 2026, this consideration implies a value of $7.79 per Marine Products share. The transaction is valued at approximately $232.2 million, net of acquired cash, representing approximately 7.2x Marine Products' expected EBITDA for the twelve months ending June 30, 2026, after adjusting for elimination of approximately $6 million of public company costs and corporate overhead. Upon closing, MasterCraft shareholders will own 66.5% and Marine Products shareholders will own 33.5% of the combined company. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second calendar quarter of 2026, subject to customary closing conditions including regulatory approvals and shareholder approval. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010660.txt - 2026-02-05 · 425 (0001193125-26-039694): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs, manufactures, and sells recreational boats.* MasterCraft Boat Holdings, Inc. is acquiring Marine Products Corporation in an all-stock transaction. MasterCraft intends to file a registration statement on Form S-4 with the SEC, which will include a prospectus for MasterCraft common stock to be issued in the transaction and a joint proxy statement/prospectus for stockholders of both companies. The transaction is subject to customary closing conditions and regulatory approvals. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039694.txt - 2026-02-05 · 425 (0001193125-26-039684): 425 - MARINE PRODUCTS CORP — *MasterCraft Boat Holdings, Inc. is a manufacturer of recreational powerboats and leisure boats, operating brands including MasterCraft, Crest, and Balise.* MasterCraft Boat Holdings, Inc. has entered into an agreement to combine with Marine Products Corporation in a cash and stock transaction. The combined company will operate under the MasterCraft brand with a diversified portfolio including MasterCraft, Crest, Balise, Chaparral, and Robalo brands across multiple boat categories. The transaction is expected to close in the second calendar quarter of 2026, pending approval from both MasterCraft and Marine Products shareholders and completion of customary closing requirements. The combined company will be headquartered in Vonore, Tennessee, and will maintain Marine Products' operating facilities in Nashville, Georgia. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039684.txt - 2026-02-05 · 425 (0001193125-26-039685): 425 - MARINE PRODUCTS CORP — *MasterCraft Boat Holdings, Inc. is a boat manufacturer and builder in the ship and boat building and repairing industry.* MasterCraft Boat Holdings, Inc. is pursuing a merger with Marine Products Corporation. MasterCraft intends to file a registration statement on Form S-4 with the SEC, which will include a prospectus regarding shares of MasterCraft common stock to be issued in the transaction and a joint proxy statement/prospectus for stockholders of both companies. The filing indicates this is a proposed transaction requiring stockholder approval from both MasterCraft and Marine Products shareholders. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039685.txt - 2026-02-05 · 425 (0001104659-26-010941): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs, manufactures and sells recreational boats, including fiberglass sport boats and other marine products.* On February 5, 2026, Marine Products Corporation entered into an Agreement and Plan of Merger with MasterCraft Boat Holdings, Inc. and its subsidiaries. Under the merger agreement, each Marine Products common share will convert into 0.232 MasterCraft common shares and $2.43 in cash. The transaction is structured as a two-step merger, with Marine Products surviving the first merger as a MasterCraft subsidiary, then merging into a MasterCraft LLC subsidiary. The merger is subject to customary closing conditions including Marine Products and MasterCraft stockholder approvals, Hart-Scott-Rodino clearance, and the absence of a material adverse effect. The agreement provides for a $11.6 million termination fee payable by either party under specified circumstances, including a change of board recommendation or termination to accept a superior proposal. The transaction is expected to close by August 5, 2026, extendable to November 5, 2026 under certain circumstances. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010941.txt - 2026-02-05 · 425 (0001193125-26-039688): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation manufactures and sells recreational marine products, including Chaparral and Robalo branded recreation and sport fishing boats.* MasterCraft Boat Holdings, Inc. has entered into a definitive agreement to acquire Marine Products Corporation in a cash and stock transaction valued at approximately $232.2 million, net of acquired cash. Marine Products shareholders will receive $2.43 per share in cash and 0.232 shares of MasterCraft common stock per share, implying a value of $7.79 per share based on MasterCraft's closing price of $23.12 on February 4, 2026. The transaction is expected to close in the second calendar quarter of 2026, subject to shareholder and other customary approvals. Upon closing, MasterCraft shareholders will own 66.5% and Marine Products shareholders 33.5% of the combined company. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039688.txt - 2026-02-05 · 425 (0001104659-26-010964): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation is a boat builder and repairer (SIC 3730) incorporated in Delaware with fiscal year end December 31.* Marine Products Corporation disclosed a proposed acquisition by MasterCraft Boat Holdings, Inc. The filing is a Form 425 (prospectus/communication) filed pursuant to Rule 425 under the Securities Act of 1933 and Rule 14a-12 under the Securities Exchange Act of 1934, indicating that a definitive merger agreement has been executed. The communications were made in connection with the proposed transaction, and the filing references a definitive merger agreement with termination fee provisions and conditions to completion. No specific deal value, consideration type, or closing date is disclosed in the header materials provided. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-010964.txt - 2026-02-06 · 425 (0001193125-26-039703): 425 - MARINE PRODUCTS CORP — *MasterCraft Boat Holdings, Inc. manufactures recreational and sport-fishing powerboats under multiple brand names including MasterCraft, Crest, Balise, Chaparral, and Robalo.* MasterCraft Boat Holdings, Inc. announced it has entered into an agreement to combine with Marine Products Corporation, a leading manufacturer of recreational and sport-fishing powerboats. The combined company will operate a diversified portfolio of brands including MasterCraft, Crest, Balise, Chaparral, and Robalo across four distinct categories. The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both companies' shareholders and other customary closing conditions. At closing, MasterCraft expects to maintain the Chaparral and Robalo leadership teams, brands, and employees as a separate operating unit. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039703.txt - 2026-02-06 · 425 (0001104659-26-011563): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs, manufactures, and sells recreational boats under the Robalo and Chaparral brands.* MasterCraft Boat Holdings, Inc. has announced a proposed acquisition of Marine Products Corporation. The transaction is being pursued through a definitive merger agreement. MasterCraft intends to file a registration statement on Form S-4 with the SEC, which will include a prospectus and joint proxy statement/prospectus for stockholders of both companies. The deal is subject to customary closing conditions and regulatory approvals. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-011563.txt - 2026-02-06 · 425 (0001193125-26-039705): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs, manufactures, and sells recreational boats under brands including Chaparral and Robalo.* MasterCraft Boat Holdings, Inc. has entered into an agreement to combine with Marine Products Corporation in a cash and stock transaction valued at approximately $232.2 million, net of acquired cash. Marine Products shareholders will receive $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products they own. Upon closing, MasterCraft shareholders will own 66.5% and Marine Products shareholders will own 33.5% of the combined company. The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both companies' shareholders and satisfaction of customary closing conditions. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039705.txt - 2026-02-06 · 425 (0001104659-26-011564): 425 - MARINE PRODUCTS CORP — *Marine Products Corporation designs, manufactures, and sells recreational boats under the Chaparral and Robalo brand names.* MasterCraft Boat Holdings, Inc. has agreed to acquire Marine Products Corporation in an all-stock transaction. The filing is a Form 425 (prospectus/communication) filed in connection with the proposed merger. A definitive merger agreement has been executed, and the parties intend to file a registration statement on Form S-4 with the SEC, which will include a joint proxy statement/prospectus for stockholders of both companies to vote on the transaction. The transaction is subject to customary closing conditions and regulatory approvals. https://www.sec.gov/Archives/edgar/data/1129155/0001104659-26-011564.txt - 2026-02-06 · 425 (0001193125-26-040013): 425 - MARINE PRODUCTS CORP — *MasterCraft Boat Holdings, Inc. designs, manufactures and sells recreational and performance boats under the Mastercraft, Crest, and Balise brands, with a portfolio spanning ski-tow-wake, pontoon and luxury pontoon segments.* MasterCraft Boat Holdings, Inc. entered into a definitive agreement to combine with Marine Products Corporation (owner of Chaparral and Robalo brands). Marine Products shareholders will receive 0.232 shares of MasterCraft common stock and $2.43 in cash per Marine Products share, for a total cash consideration of $86 million and an implied per-share value of $7.79 based on MasterCraft's February 4, 2026 closing price of $23.12. The transaction is valued at $232.2 million, representing 7.2x Marine Products' expected EBITDA for the 12 months ending June 30, 2026 (after adjusting for ~$6 million in eliminated public company costs). Upon close, current MasterCraft shareholders will own 66.5% and current Marine Products shareholders will own 33.5% of the combined company. The transaction is expected to close in calendar Q2 2026, subject to customary closing conditions including regulatory approvals and shareholder approval from both companies. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-040013.txt - 2026-02-06 · 425 (0001193125-26-039699): 425 - MARINE PRODUCTS CORP — *MasterCraft Boat Holdings, Inc. is a manufacturer of recreational boats and powerboats, operating brands including MasterCraft, Crest, Balise, Chaparral, and Robalo across multiple market segments.* MasterCraft Boat Holdings, Inc. announced it has entered into an agreement to combine with Marine Products Corporation in a cash and stock transaction. The combination will create a diversified portfolio of brands including MasterCraft, Crest, Balise, Chaparral, and Robalo across four distinct categories. The transaction is expected to close in the second calendar quarter of 2026, subject to approval by both MasterCraft and Marine Products shareholders and other customary closing conditions. At closing, MasterCraft expects to maintain the Chaparral and Robalo leadership teams, brands, and employees as a separate operating unit. https://www.sec.gov/Archives/edgar/data/1129155/0001193125-26-039699.txt - 2026-05-15 · 8-K (0001104659-26-062557): 8-K FORM 8-K https://www.sec.gov/Archives/edgar/data/1129155/000110465926062557/tm2614719d1_8k.htm ## Citations - 0001104659-26-010961 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010961 - 0001104659-26-010957 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010957 - 0001104659-26-010953 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010953 - 0001104659-26-010660 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010660 - 0001193125-26-039694 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039694 - 0001193125-26-039684 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039684 - 0001193125-26-039685 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039685 - 0001104659-26-010941 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010941 - 0001193125-26-039688 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039688 - 0001104659-26-010964 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926010964 - 0001193125-26-039703 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039703 - 0001104659-26-011563 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926011563 - 0001193125-26-039705 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039705 - 0001104659-26-011564 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926011564 - 0001193125-26-040013 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526040013 - 0001193125-26-039699 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526039699 - 0001104659-26-062557 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000110465926062557