Ambassadors International acquired Nishida
Tekko America Corp. (NTAC), the 100% owner of Bellingham Marine
Industries, a designer, manufacturer and builder of dock
facilities. Ambassadors paid $7 million to Nishida Tekko and
retired a debt of $6 million. The transaction was completed July
21.
Bellingham Marine
manufactures the products Unifloat brand saltwater dock systems,
Unideck brand freshwater dock systems and Unistack brand dry boat
storage systems.
Founded in 1928 and
still based in Bellingham, Wash., the company claims to have built
more than 16.5 million square feet of dock systems. It also
maintains facilities elsewhere in the U.S. as well as in Australia,
New Zealand, Southeast Asia, Europe and Mexico. The company has
licensing arrangements in the Middle East and the Far
East.
Nishida Tekko America
and its 325 employees will be integrated into Ambassadors.
The acquisition is the
latest in a series of purchases that have shifted Ambassadors
business focus from its previous character as a travel and events
company to a broader focus that includes a substantial domestic
river-cruise operation.
With Ambassadors
purchase of American West Cruises in December 2005 and Delta Queen
Steamboat Co. in April 2006, it created a nationwide American
river-cruise operation and became the dominant player in the
market.
To contact the
reporter who wrote this article, send e-mail to David Cogswell at
[email protected].