T-H Marine Supplies, Inc., of Huntsville, Alabama, announces the acquisition of all assets of Loc-R-Bar, LLC, of Kimberling City, Missouri. Financial terms of the deal were not disclosed.
T-H Marine’s President and CEO, Jeff Huntley, stated “We are happy to announce that we have acquired the assets of Loc-R-Bar, LLC. The patented Loc-R-Bar® has been the most widely used boat compartment security device for many years. The Loc-R-Bar® system offers a full package of protection for a boater’s valuable gear. This product has a very strong brand name, is built with superior quality, and is installed by many of the top boat companies at their factories. The product line fits us great and allows us to bring another top notch offering to our OEM and aftermarket customers. We are ready to serve the Loc-R-Bar customers immediately.”
Pete Benedetto, president of Loc-R-Bar said, “I have had a great time and a lot of success with this product line in the marine industry for over 15 years. I am now happy to hand it off to T-H Marine, because they are a company with a strong reputation for quality products and great customer service. I know T-H Marine will be able to use their strong distribution chain to grow the use and availability of Loc-R-Bar® to more boaters than ever. As the inventor of this product that I believe in, that makes me happy.”
T-H Marine has been manufacturing parts and accessories for recreational boats since 1975 and currently offers over 3000 different products to the boating industry. Loc-R-Bar was formed in 1996 by Pete Benedetto and John Hottle to bring an improved boat compartment locking device to the recreational boating industry. Loc-R-Bar has over 500 stocking dealers and many top boat brands installing the product. Huntley said, “This acquisition is another great opportunity for us to have the top brand in a market segment. We have many different products that we have built to be the #1 product in a category – like our ATLAS™ hydraulic jack plate and our HOT FOOT™ foot throttle. It is nice to get the opportunity to purchase a market leading product that still has opportunity for growth, which we have done with Loc-R-Bar® and our recent acquisition of Oxygenator™.”
Huntley also stated, “T-H Marine is excited that we can offer yet another great item that has real value to the boaters and fishermen. With Loc-R-Bar® added to our expanding product line, including the Oxygenator™, TWO WAY Boat Alarm™ and our G-FORCE™ trolling motor handle, we have even more ways to get involved with the fishermen, especially the tournament fishermen, who demand the best from their equipment and want to keep it secure. Along with our TWO WAY Boat Alarm™, this gives us a strong position in the boat security market.”