BRP announced late last night (17 October) that it is initiating a process for the sale of its Marine businesses namely Alumacraft, Manitou, Telwater (Quintrex, Stacer, Savage and Yellowfin), and Marine parts, accessories and apparel. This process excludes all activities related to its Sea-Doo personal watercraft, Sea-Doo Switch pontoons and jet propulsion systems.
In light of the challenging economic context, BRP has decided to channel its efforts and investments towards its Powersports Year-Round Products, Seasonal Products, Parts, Accessories and Apparel portfolio, as well as its Original Equipment Manufacturer (OEM) Engine business.
“After careful consideration and given the current dynamics of both the Marine and Powersports industries, we have decided to double down on our core Powersports activities and to sell our Marine businesses,” said José Boisjoli, President and CEO of BRP. “Over the past few years, we have built a solid foundation by investing in the development of innovative Marine products and upgrading the production facilities. As such, we believe that these iconic brands can offer attractive value creation opportunities for a new owner.”
BRP’s objective is to solidify its position as a leading global Powersports OEM. The Company is confident that this decision will enable it to capitalize on growth opportunities within the Powersports industry and improve its margin profile, thereby enhancing its position for long-term success.
Given that BRP expects this process to be completed in the first quarter of Fiscal Year 2026, it does not anticipate any impacts on its current Fiscal Year 2025 guidance and will not provide comments on the progress of the process.
BRP has retained National Bank Financial Inc. to assist with the sale process.
In addition to the official release, a dealer notice countersigned by Sandy Scullion President of Powersports and Marine, and Sam Heyes, GM of Telwater locally, dealers were supplied with the following information.
“Excluded from this sale process are all activities related to Sea-Doo personal watercraft and Sea-Doo Switch pontoon products, jet propulsion systems (JPS), as well as the Spruce Pine, North Carolina, U.S.A. operations.
Our objective with Rotax S outboard engines with Stealth Technology is to find external OEM customers to sell our engines to as we are doing for the JPS business.
Our commitment remains to provide you with the level of support you expect from us during this process and to ensure there is a smooth transition.
We expect this process to be completed by the end of BRP’s first quarter of Fiscal Year 2026, which means February to April 2025. Until then, it remains business as usual. And while we cannot share more information at this point, we have created some questions and answers below.
As we are able, we’ll provide additional updates on the sale process to allow you to plan your business accordingly.
As we embark on this process, our goal is to protect the interests of all stakeholders involved, especially you, our dealers, who have been part of this journey with us along the way, as well as our customers who have acquired one of our products.”
The Telwater notice included the following :
QUESTIONS AND ANSWERS
Will you still honor extended warranties for the Marine brands and ensure service parts availability?
Yes, we will continue to honor warranties for the brands impacted by the sale and ensure parts are available.
Are you planning to continue production and deliveries?
Yes. It remains business as usual.
Can I expect the same level of service from BRP during this process?
Yes, nothing will change with our internal processes and service level to you.
What will happen to the brands and the Marine businesses when the sale happens?
There will be a transition plan in place, and once these details become clearer, we’ll communicate the information.
What happens if you don’t find a buyer?
We believe our Marine businesses will attract potential buyers, because we believe these iconic brands can offer attractive value creation opportunities for a new owner.
When is the sale process expected to be complete?
We expect this process to be completed by the end of BRP’s first quarter of Fiscal Year 2026, which means February to April 2025.
What does this sale process mean for my business?
Once the process is complete, we’ll be able to provide more information on this. Until then, it will be business as usual.
As a dealer, are there any actions I need to take at this time?
No, there is no action needed, and it remains business as usual.
