Canadian powersports vehicles business BRP Inc. said Aug. 1 that it completed the acquisition of 80% of the outstanding shares of the maker of aluminum boats and trailers Telwater Pty. Ltd.
BRP said the acquisition, which was the company's first outside the U.S., will help the company pursue its global expansion plans. Telwater will join the BRP Marine Group as an independent product line, along with the Evinrude, Alumacraft and Manitou brands.
Telwater Managing Director Paul Phelan will hold 20% of the company's outstanding shares.