Exclusive Letter of Intent for West Coast distribution of Nimbus Boats USA
Expands Nautical Ventures' lineup with premium Scandinavian-designed models
Strategic step to broaden Vision Marine's portfolio after acquiring Nautical Ventures
Enhances choice and experience for boaters in Florida's top market
FORT LAUDERDALE, FL / ACCESS Newswire / August 14, 2025 / Vision Marine Technologies Inc. (NASDAQ:VMAR) ("Vision Marine" or the "Company"), a leader in premium on-water experiences and the owner of Florida-based dealership network Nautical Ventures, today announced that Nautical Ventures has entered into a Letter of Intent with Nimbus Boats USA to exclusively distribute Nimbus powerboats on Florida's West Coast.
Nimbus's Tender, Commuter, Weekender and Coupe series are recognized worldwide for their Scandinavian design, versatile layouts and meticulous construction. With more than seventy years of heritage, Nimbus is one of the respected powerboat builders in Europe and North America, and the largest Scandinavian boat builders by volume. Upon entering into definitive agreements, which the parties expect to conclude by March 31, 2026, Nautical Ventures would be authorized to promote, sell and service these models in Florida's West Coast region beginning August 1, 2025.
"Adding Nimbus to our lineup will be a strategic move to broaden our product portfolio and serve customers who are seeking premium day-cruiser and weekender boats," said Alexandre Mongeon, Co-Founder and Chief Executive Officer of Vision Marine. "Our vision is to curate the best selection of boats on the market and deliver an elevated on-water experience. This partnership will expand our reach in Florida, leverage the sales and service capabilities of Nautical Ventures and align with our plan to build a diversified portfolio that addresses high-margin segments. We believe it will position us to capitalize on strong consumer demand and favourable market trends, while continuing to support and grow our existing brand relationships."
Industry data underpins the commercial rationale for the partnership. Boating and fishing contribute roughly $1.2 trillion to the U.S. outdoor recreation economy and support more than 812,000 jobs [1]. Florida is the largest market for new powerboats, engines and accessories, generating $6.4 billion in sales in 2023, a 3.1 percent increase over the prior year [2]. The National Marine Manufacturers Association projects that new powerboat sales will rebound in 2025, with total boating expenditures expected to rise 3-5 percent above 2024's record levels [3]. Adventure-style boats-versatile models designed for day trips, water sports and island hopping-are among the fastest-growing categories in recreational boating, and Nimbus's Tender, Commuter, Weekender and Coupe series are squarely in this segment. These trends suggest a sizable and resilient addressable market for high-quality day boats and weekenders [4].
[1] https://www.bea.gov/
[2] www.marinadockage.com/
[3] https://boatingindustry.com/
[4] U.S. boating and outdoor recreation statistics sourced from the National Marine Manufacturers Association and the U.S. Bureau of Economic Analysis. See NMMA press release "Innovation Driving U.S. Boat Sales Demand As Key Winter Boat Show Buying Season Gets Underway" (https://www.nmma.org/press/article/24937) and Boating Industry article "NMMA shares 2024 U.S. boat sales stats" (https://boatingindustry.com/news/2025/01/14/nmma-shares-2024-u-s-boat-sales-stats/) for projections on powerboat sales. Adventure-style boat trend commentary reflects general market observations and is not tied to a specific citation.
The Nimbus partnership is one of several initiatives Vision Marine is pursuing as it structures and expands its brand portfolio under new leadership. In June 2025, the Company acquired Nautical Ventures, a Florida-based recreational boat dealership, marina and service provider widely recognized as one of the top networks in the United States and the number-one Axopar dealership worldwide. Nautical Ventures operates nine high-volume retail locations across Florida and distributes a diverse range of premium brands- including Axopar, Beneteau, Brabus, Edgewater, Highfield, NorthStar, Smokercraft, Wellcraft -serving customers from pontoons to luxury yacht owners. The acquisition created North America's first electric boat propulsion and multi-brand retail company, combining Vision Marine's high-voltage E-Motion powertrain and electric boats with Nautical Ventures' established sales and service infrastructure. Integrating Nimbus into this platform is part of a broader strategy to offer consumers the best products across propulsion types while supporting long-term growth for all brands in the Nautical Ventures family.
About Vision Marine
Vision Marine Technologies Inc. (NASDAQ:VMAR) is a leader in high-performance electric propulsion systems and premium boating experiences. The Company's proprietary E-Motion 180 horsepower electric outboard is the first high-voltage system purpose-built for the marine industry. In June 2025 Vision Marine acquired Nautical Ventures, creating North America's first electric propulsion and multi-brand boat retail company. The combined entity operates nine retail locations across Florida and distributes a wide range of prestigious boating brands. By uniting advanced technology with established sales and service infrastructure, Vision Marine aims to accelerate adoption of cleaner, high-performance boating and provide consumers with an unmatched on-water experience.
About Nimbus Boats USA
Nimbus Boats USA is the American arm of Nimbus Group, a global leader in the design and manufacture of luxury powerboats. With more than seventy years of heritage, Nimbus has earned a reputation for quality, safety, and innovation, and is the largest Scandinavian boat builder by volume. Its award-winning Tender, Commuter, Weekender, and Coupe series are sold through an extensive international dealer network spanning more than fifty countries. [5].
[5] Nimbus Boats USA information derived from company disclosures and publicly available sources, including Nimbus Group corporate materials.
Forward-Looking Statement
Certain statements in this press release may constitute "forward-looking statements" within the meaning of U.S. federal securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Forward-looking statements include, among others, statements regarding the expected terms and timing of the definitive distribution agreement with Nimbus Boats USA, anticipated benefits of the partnership, projected market opportunities and Vision Marine's strategic outlook. Factors that could affect actual results are detailed in the "Risk Factors" section of Vision Marine's filings with the U.S. Securities and Exchange Commission. Vision Marine undertakes no obligation to update or revise any forward-looking statements, except as required by law.
Investor and Company Contact:
Bruce Nurse
Investor Relations
(303) 919-2913
bn@v-mti.com
SOURCE: Vision Marine Technologies Inc
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/automotive/vision%e2%80%afmarine-positions-for-growth-with-exclusive-nimbus%e2%80%afboats-usa-distribution-on-flori-1060824
