CHICAGO--(BUSINESS WIRE)--Kanbrick, the long-term investment partnership focused on acquiring and building founder- and family-owned businesses, today announced the appointment of Terry McNew as Chief Executive Officer of Marine Concepts, a leading marine aftermarket platform.
McNew previously served as CEO of MasterCraft, where he meaningfully increased sales and profitability and led the company through its 2015 initial public offering. He was responsible for modernizing the company’s design and manufacturing processes. He also led notable acquisitions, including Crest and NauticStar, while also launching the Aviara brand. More recently, McNew served as CEO of Klaussner Home Furnishings.
McNew assumes the role from founder Randy Kent, who remains a partner and owner in the business and focuses on product innovation and strategic partnerships. Kent patented the technology behind Marine Concepts’ flagship brand, a semi-permanent modular system that protects boats with ease, taking the time-consuming task down to minutes.
“We’re excited to bring Terry aboard as we build a strong marine platform together,” said Kanbrick Co-Founder Tracy Britt Cool. “We’re aligned in our vision to develop the preeminent platform to better serve the needs of recreational boating enthusiasts, and it’s clear that Terry’s in-depth experience and passion for boating will help take Marine Concepts to the next stage. We’re excited to work together to continue to strengthen Marine Concepts’ reputation and deepen the loyalty among boaters that Randy and the team have earned over the last 17 years.”
In his role as CEO, McNew will oversee the day-to-day operations and the company’s long-term organic growth and acquisition strategy in close partnership with the Kanbrick team. Kanbrick acquired Marine Concepts in June 2022 to build a leading platform of marine accessory brands by investing in product, expanding into new geographies and channels, and strengthening the customer experience.
“I’m thrilled to join Marine Concepts,” McNew said. “Randy and the team have created the world’s best boat cover, and I look forward to building on its success by entering new markets, expanding our product offering, and acquiring additional high quality after-market marine products that deliver a world-class experience for boaters.”
About Kanbrick
Kanbrick is a long-term investment partnership founded by Tracy Britt Cool and Brian Humphrey based in Chicago, Illinois. Kanbrick is focused on acquiring, growing, and building great businesses and provides a long-term home for companies. Kanbrick partners closely with owners and executives, taking a hands-on approach to empower people and companies reach their full potential. For more information, visit: www.kanbrick.com.
About Marine Concepts
Marine Concepts, based in Kaiser, Missouri, is a leading designer and manufacturer of custom boat cover systems designed to reinvent the experience of covering a boat. The Company sells direct to boating enthusiasts in the aftermarket channel. Its products utilize digital measurements, customization software, and patented design systems to enable boats to be covered quickly, easily, and securely. For more information, visit: www.worldsbestboatcover.com.
