The acquisition of the assets of Drake Products, Greenville, Mich., maker of marine accessories by Woolsey Marine Industries, Inc., New York, N.Y., diversified marine paint and accessories manufacturer, has been announced by H. W. Evans Jr., Woolsey president.
Drake, a leading manufacturer of marine boarding ladders, boat hooks and paddles, will operate within the Seaquipment Division of Woolsey, with its management intact. The terms of the transaction were not disclosed.
The acquisition by Woolsey is part of the company's expansion and diversification which in the past year has included the acquisition of Telo Industries, Inc., Newport Beach, Calif., maker of sailboat accessories as an operating division, and the formation of their new Seaquipment Division, which markets Plowright anchors, and Aerosol Froghorns in addition to Drake products.
Woolsey, a leader in the marine paint field for more than 115 years, continues to expand its full line of marine coatings for the pleasure boat and commercial markets.