Walstrom Marine Acquires Grand Bay Marine

NOVEMBER 15 – HARBOR SPRINGS, MI – WALSTROM MARINE ANNOUNCES THE ACQUISITION OF GRAND BAY MARINE AS PART OF ITS ONGOING EFFORT TO EXPAND ITS OPERATIONS ACROSS THE GREAT LAKES REGION. FOUNDED IN1997, GRAND BAY MARINE HAS BEEN OWNED AND OPERATED BY LIZ CARNEY AND HER FAMILY. WITH LOCATIONS IN TRAVERSE CITY AND CHARLEVOIX, GRAND BAY MARINE HAS POSITIONED ITSELF AS THE COUNTRY’S LARGEST RETAILER OF THE REGAL BOAT BRAND.

Mrs. Carney and her husband, Kevin, will assist in the ownership transition. Their daughter, Rachael Milliman, will serve as General Manager of the Grand Bay Marine Traverse City location. Tom Ervin, President of Walstrom Marine, will oversee the overall Grand Bay Marine business.

“We are honored to welcome Grand Bay Marine to the Walstrom Marine family, “remarked Ervin. “Grand Bay Marine has built a strong customer base and a leading position in the Traverse City market. Grand Bay Marine’s dedicated staff and expertise in the marine industry will be an asset to Walstrom Marine and all our Northern Michigan clients. With the addition of the Regal brand to the broader Walstrom Marine business, we continue to build our offering and drive our long-term strategy to be the premier Marine operator across the Great Lakes.”

Grand Bay Marine’s 38 employees will remain with the organization post-acquisition. In addition to being a boat retailer, Grand Bay is a full-service marine dealership offering service, storage, parts, and pro-shop gear from their showroom. Grand Bay focuses on premium sporting boats and offers a wide range of brands, from Regal and StarCraft to Godfrey, Bayliner, Robalo, and Berkshire. Grand Bay Marine also offers heated and cold indoor and outside storage during the winter months.

“As we thought about our succession, finding a partner who shared our passion and commitment to our customers was critical,” remarked Carney. “Walstrom Marine is undoubtedly the best fit to carry our company forward. I’m so thankful to our wonderful employees and loyal customers, and I know they will be well served for years to come.”

The acquisition follows the investment in Walstrom Marine in 2021 by an investor group led by Continuum Ventures, the family office of Doug and Maria DeVos. The investor group also included the Jim Mestdagh family and the Pete Beauregard family. Additionally, the Ward Walstrom family retained an ownership position in the business. This same investor group will now own Grand Bay Marine and follows their recent purchase of Algonac Harbour Club in July 2022. The collective investments in Walstrom Marine, Algonac Harbour Club, and Grand Bay Marine further Continuum’s efforts to build the leading premium boat dealer and marina operator in the Great Lakes region, starting with Michigan.

Walstrom Marine, founded in 1946, offers a full-service boating experience in Northern Michigan with locations in Harbor Springs, Traverse City, Bay Harbor, Charlevoix, and Cheboygan and proudly represents some of the finest boat brands – Tiara Yachts, Pursuit Boats, Sea Ray, Chris-Craft, Nauticstar, Crest, and Lund.