Fountain Powerboat Industries, Inc. (PINKSHEETS: FPWB) has announced that it has retained an investment banker to assist the company in exploring strategic alternatives.
‘Fountain has hired Jacobs Capital, based in Raleigh, North Carolina, to seek a partner that can provide additional capital to the company to support its operations during the present economic downturn and to help finance future growth. According to Fountain Chairman and CEO Reggie Fountain, “The present market for boating is not immune to the same forces impacting the auto industry and the overall economy. Fountain Powerboats is one of the premier brands in the powerboat industry, and we plan to be a survivor of the current industry shakeout. We have unparalleled customer loyalty, which has allowed us to see less falloff than most of our competitors. From experience, we know the companies that come through this recession will be poised to capture even greater market share.”