Atlantic-Meeco buys majority of Sullivan
Posted on 22 July 2008
Atlantic-Meeco Holdings, the parent company of marina builder Atlantic-Meeco, has acquired a majority interest in Sullivan Flotation Systems.
“This is a marriage of two well-run companies with good products and good reputations,” said Paul Durlacher, president and CEO of Atlantic-Meeco, in a statement. “Because both companies are so healthy and well run, there is no immediate need for substantive change in either operation.”
Based in McAlester, Okla., Atlantic-Meeco manufactures and installs about 300 marinas a year. Sullivan is based in Warwick, N.Y., and manufactures and installs about 100 marinas a year; with its strongest market in the Northeast and along the Atlantic seaboard.
The McAlester and Warwick plants will continue to operate with the same personnel. Steven and Robert Sullivan of Sullivan Flotation Systems will continue to actively manage and retain ownership interest in the company.
“We are both excited about the opportunities this union will bring to our company and employees,” they said in a statement. “We’re looking forward to working with Atlantic-Meeco to provide a broader array of products to our customers. We anticipate growing the business through increased market presence and synergies between the two companies.”