The U.S. Bankruptcy Court for the District of New Jersey approved the sale of the operating assets of Hunter Marine Corp. late Tuesday night and “selected assets” of Mainship Corp. and the Luhrs Corp. to Marlow Acquisitions LLC, according to a letter the company sent Wednesday to Hunter dealers.
Marlow Acquisitions is affiliated with Marlow companies operating worldwide across a broad spectrum of marine and related industries in a vertically integrated manufacturing and distribution environment, the letter sent to dealers said.
“I have spent numerous hours with Mr. David Marlow, principal of the purchasing entity,” Hunter president and chief restructuring officer John Peterson wrote to dealers. “I can assure you that he is elated with the opportunity afforded himself as the highest and best bidder.”
Peterson quoted a line from one of Marlow’s many emails to give dealers a glimpse of his philosophy: “One item I am concerned with is the concept that any alterations would be made in the planned output of QC procedures to enhance short term revenues. My hallmark is quality and there is no better time to begin than the beginning. It would be extremely counterproductive to shape deliveries around eking out a bit more cash flow … than spending the necessary dollars on QC,” Marlow wrote, according to Peterson’s letter to dealers.
Marlow Yachts builds the Marlow Explorer, Marlow Voyager and Marlow Prowler lines of yachts, the letter said. Marlow has a boatbuilding yard in China.