Miller Johnson Represents Continuum Ventures in Acquisition of Action Water Sports
THE TRANSACTION
On March 10, 2023, Continuum Ventures (Continuum) acquired a majority ownership interest in Action Water Sports, LLC, Action Water Sports of Traverse City, LLC, Action Water Sports of Fenton, LLC, Action Water Sports of Orlando, LLC and Action Wake Park, LLC (collectively, Action Water Sports). Investing in Action Water Sports strengthens and accelerates Continuum’s presence in the marine sector as part of its long-term vision to be a leading premium boat dealer and marina operator.
“The investment in Action Water Sports is a significant step forward in our strategy to build a strong and diversified marine business that offers premium boat brands, services, and amenities that serve boaters and water enthusiasts,” remarked Mike Cazer, Chief Executive Officer of Continuum. “Jerry [Brouwer] and his team have built an exceptional business—and we come into this partnership as family-owned businesses with shared values, a love for boating, and the desire to deliver exceptional experiences for AWS’s customers.”
Action Water Sports was founded in 1990 and has operated as a family-owned business with three dealerships in Michigan and one in Polk City, Florida. In addition to specializing in retailing premium marine brands, Action Water Sports delivers a wide range of services, including certified service, parts, detailing and storage, as well as marine and water sports lifestyle products and apparel.
Miller Johnson acted as legal advisor to Continuum in the transaction. Miller Johnson’s team was comprised of Stephen Reaume (M&A), Dustin Daniels (M&A), Alex Kaminski (M&A), Courtney Lee (M&A), David (Wei) Wang (M&A), Jim Ens (Real Estate), Madeline C. VerHey (Real Estate), Loic Dimithe (Finance), John Brown (Finance), Neil Williams (Tax), Hunter Reams (Tax), Jeff Gray (Employee Benefits), Brett Liefbroer (Employee Benefits), Tripp VanderWal (Employee Benefits), Nathan D. Plantinga (Labor & Employment), Patrick M. Edsenga (Labor & Employment), Adam Walker (Labor & Employment) and Brandon Griffith (IP).
CONTINUUM
(www.continuumv.com) Continuum was founded by and operates as an investment company for the Doug and Maria DeVos family. Continuum passionately believes that empowered people can and will succeed when given an opportunity. Continuum fulfills this purpose through philanthropic and civic engagement and investing in businesses across various industries that seek to make a difference. Continuum operates a $200 million marine business with more than 300 employees and 12 locations as a majority investor in Walstrom Marine, Algonac Harbour Club, Grand Bay Marine, Action Water Sports and Quantum Sails. Continuum Ventures’ family of marine operators represents premium brands that include Mastercraft, Cobalt, Barletta, Sea Ray, Tiara Yachts, Pursuit, Chris Craft, Regal, Crest and Lund.
ACTION WATER SPORTS
(www.actionwater.com) Action Water Sports is a premier MasterCraft, Cobalt, Barletta and Crest dealer who has been bringing families together on the water for over 30 years. With four locations in Michigan and Florida, Action Water Sports strives to set the bar for excellence for service within the local boating community.
MILLER JOHNSON’S MERGERS AND ACQUISITIONS GROUP
Miller Johnson’s M&A practice group collaborates with clients and their advisors to structure, negotiate and close deals, and to navigate the challenges that can arise in mergers, acquisitions, dispositions, and other business combination or investment transactions.
Miller Johnson is top listed for mergers and acquisitions with U.S. News & World Report’s Best Law Firms and is ranked by Chambers USA. At The M&A Advisor’s national awards and the ACG M&A Deals and Dealmakers regional awards, our attorneys are consistently involved in deals honored as winners and finalists. For further information, please contact Dustin Daniels at (616) 831-1737 or Stephen Reaume (313) 672-6935.
