Kansas Investors Revive Magic / Sleek Powerboats

Back in May, we told you how tough times had forced Lake Havasu's Power Marine and Motor Sports Inc, the manufacturer of Magic Powerboats and Sleek Powerboats, to close their doors. Since then, Kansas investors Berney Shumate and Tony Poore have completed a deal to buy the company's manufacturing operation and molds. The pair, who had also acquired Cougar Custom Boats in 2004 and relocated it to Hill City, Kansas, discovered the Magic/Sleek operation was for sale while on a west coast purchasing trip.

PHOTO CREDITS: (top) Cougar Custom Boats (bottom) Magic Powerboats.

Asa result, Shumate and Poore have obtained 28 boat molds and have plans to continue building Magic and Sleek boats at the Lake Havasu, AZ plant. Reportedly, some of Magic's former personnel have been brought back into the new operation, which is good news. With Cougar's boats ranging in smaller sizes -- from 18-27' and the Magic boats ranging from 26-44' the new addition seems to be a solid business move that significantly rounds out their performance boat line. The manufacturer's statement concludes:

"With this purchase we will be more diversified and be able to reach more customers. The owners of Cougar Custom boats and Magic and Sleekcraft Powerboats plan to manufacture all three brands at both the Kansas and Arizona locations. We will continue to customize our boat lines so that we can meet the customers expectations."