Lazy Daze, Sea Ray and Peters Marine

Lazy Daze

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TECHNICAL Contributor
Apr 21, 2009
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As some of you know, I work in the industry. I try not to make a big deal of that since I'm here on this forum, first and foremost, simply as a boater with a passion for this lifestyle like everyone else. However, I've also enjoyed being able to help out in certain ways by offering advice and information about boating and, specifically, Sea Rays, given my profession.

Recently, though, the owner of Peters Marine (it's been family held since 1936) has announced that he is moving on to other ventures that better suit him and his family. Business is good, but it's just not something that interests him as much as it used to. So at this point, one of two things are going to happen with Peters Marine - either the business will be bought by a new owner or, come the end of the year, it will simply close. My hope, of course, for our customers and employees is we get a new owner and things continue as usual.

Anyways, I wanted to reach out and give everyone a heads up in case you hear about it somewhere else - so you at least know the story behind what's going on.
 
I am surprised another owner would not step up. You guys have a great reputation and are a staple in that area… good luck.. I am sure it will work out
 
Get the other employee's together and go employee owned. If there is a few long term folks, it might be worth it in the long run. Heck, the owner now might let it go to everyone with a pay out in a few years. Something to think about.
 
As a young retired business owner, something seems amiss. The boating industry is at its 10 year peak, making boat dealerships more profitable than they have ever been. I understand the desire to move on, but moving on normally means selling while the value is up, and using those rewards to invest in the next venture, be it business or retirement. Hmmm, probably more to this story yet.
Dennis, I wish you the best and hope you can find a gainful path forward.
 
Dennis, you are one of the most helpful people on CSR. I hope nothing but the best for you, I hope it all works out. If I were in the market for a boat in the NJ/PA area, you would be my first call. Good luck buddy! Sincerely, Brian
 
could he not ESOP it other than walk away. something going on I think.
 
Thank you, guys, for the wishes and thoughts! :) I do like that we've been an independent dealer for so long - although I wouldn't be surprised if MM tried to step in. Although there are some options on the table, it's way to early to talk about them - we'll see how it pans out.

As a side note, regardless of what happens with the dealership, I don't, personally, plan on leaving CSR. The only downside is that I might have to start paying for my own membership... ;)
 
You are an extremely helpful resource! I wish my local dealer was so knowledgeable and passionate. Best of wishes to you.

The closure is extremely perplexing from my perspective. Here is a little more from the owner on facebook- still doesn't make a lot of sense to me as an outsider. Peters Marine Service Inc | Facebook
 
Thank you for the services you provide on CSR and glad you'll be here. Things will work out, you have too much talent in the industry, to go to waste.
 
I'm sure something will work out for you Dennis. Talented individuals like yourself will always have opportunities. Best of luck!
 
Any update Lazy ?
The process is longer than I would have expected. But at this point, there are interested parties in buying the place. Nothing is signed on the line, yet, but things are moving forward in a positive way.

Jim, Peters Marine is in Allentown, PA. Believe it or not, it's the second oldest SR dealership in the world!
 
The process is longer than I would have expected. But at this point, there are interested parties in buying the place. Nothing is signed on the line, yet, but things are moving forward in a positive way.

Jim, Peters Marine is in Allentown, PA. Believe it or not, it's the second oldest SR dealership in the world!
It took me over a year to buy my business....be patient. Good to hear
 

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