ValueRich, a multi-industry company, this month entered into an agreement with recreational boat maker Twin Vee Catamarans Inc. of Juno Beach to invest, manage and transition to ownership once financial goals are met.
"We welcome ValueRich team members Joseph Visconti and Tommy McLeod into our Twin Vee family,” Roger Dunshee, Twin Vee Catamarans president and CEO, said. “They bring a level of experience and business specific credentials we need to usher Twin Vee to the next level. The ValueRich investment will build the production infrastructure required…while simultaneously benefiting Twin Vee customers, employees and vendors. We are particularly excited about modernizing our plant and facility so we can expand and increase Twin Vee's production.”
Founded in 1994, Twin Vee designs, manufactures, markets, distributes and sells recreational boats from its 8.5-acre corporate headquarters and manufacturing facility in Ft. Pierce. For the past 21 years, Twin Vee has concentrated on perfecting the high-speed displacement hull known as a catamaran powerboat. Its mission continues to uphold production of safe, reliable, quality twin hull powerboats at an affordable price.
“I look forward to rolling up my sleeves…and adding value to an already admired and established company," McLeod, who will lead the expansion, said. "Twin Vee has done a wonderful job building and maintaining a loyal band of Twin Vee enthusiasts."
ValueRich plans to raise the necessary capital to close on the transaction on or before Dec. 31. The investment firm focuses on acquiring, developing and building undervalued assets to higher profitability and increased shareholder value.