Industry Leading boat manufacturer with lots of growth opportunity.

OVERVIEW:

TAG Boats was founded in 2019 by David Johnson in Charleston, SC to serve the growing luxury
multihull offshore fishing category.
www.tagboats.com To date TAG produces 3 sizes of high
performance, high-quality center console, double hull fishing boats.
The catamaran style multihull is the latest trend in boating. It is a geometry-stabilized craft, deriving its
stability from its wide
beam. This design reduces both heeling and wave-induced motion and allows for
reduced wake and less propulsive power needed
TAG offers top quality construction, fit and finishing options that are exceptional in the industry. All
boats are custom made to order
Currently in production: 30-foot center console, 36-foot center console and 19-foot flats boat
5-7 employees on the floor.

Each boat is currently taking 3 to 6 months to build due to COVID and materials


availability issues. Operating 6am-3pm 5 days a week
Average price of finished boats range from $65,000-$80,000 for small boats to upwards of $500,000 for
larger boats. 30% deposit, 30% draw, 30% draw and 10% collected upon completion
Operating out of a 9,000 sq ft manufacturing space in Walterboro, SC. Long range plan could utilize up
to 150,000 sq feet for production at full capacity.
Models in production to expand offerings to include a 26’ and 43’ option
Primary sales and marketing through boat shows to expand to dealers in the future
Real Estate is also available. 9,000 sq ft manufacturing space located at 384 Beacon Drive, Walterboro,
SC 29488.

FINANCIAL OVERVIEW*:

Additional Tag 300 MOLD has been completed in 2Q2021 with an estimated value of $800K prior any production income.
Occupying space in affiliate property therefore no current rental expense
Projections available with owner introduction

Current capabilities from Mold sets $50,180,000.00 per year in gross revenue.*

*would need more staff and larger building space to meet this criteria.

BUSINESS OUTLOOK:

Charleston Growth – The Charleston MSA is growing rapidly at 30 new residents per day according to
the Charleston Metro Chamber of Commerce. This statistic was taken prior to the COVID pandemic and
growth in the area has further accelerated with the great migration to coastal Carolina areas
2020 was an extraordinary year for power boat sales nationwide as more Americans took to the water
to escape pandemic stress and enjoy the outdoors safely. High disposable income and historically low
interest rates allows for continued purchase of bigger ticket and luxury items. NMMA reports retail
units of new powerboats was up 34% in February 2021 compared to the same time the previous year
Although recreational boating is popular, the most popular use for boating is fishing
OPPORTUNITIES FOR GROWTH:
Excellent name brand reputation has been built with huge opportunities to capture market share in
this high growth market segment
Scale faster to produce more boats – effective operational management to scale space and staffing to
produce inventory and fill orders more expediently
Produce spec models for sale and expand into dealer markets

REASON FOR SALE:

Retirement