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COMPANY HISTORY
2018
Watershed focuses on partnering with and investing in early-stage, high-growth companies that are developing emerging or disruptive technologies. By integrating these innovations into markets they understand, Watershed advances its commitment to people, performance, and philanthropy. With access to a vast network through its sister companies, Watershed is connected to world-class brands, distribution, and operations. The company collaborates with businesses advancing technologies in areas such as energy and propulsion, artificial intelligence, software and analytics, advanced materials, sensors, wireless, robotics, and automation, strategically aligning with its own goals and values.
2019
Correct Craft acquires Merritt Precision, a leader in large-format CNC machining solutions for sophisticated composite parts since 2004. With a strong focus on relationships and experience, Merritt Precision has helped bring ambitious customer ideas to life, contributing to success in various industries. Operating from locations in Merritt Island, FL, and Sweetwater, TN, the company offers 3D design, scanning, milling, and tooling services, meeting the diverse needs of clients in the composite sector.
Velvet Drive Transmissions, a world leader in marine and industrial transmissions for over 65 years, joins the Correct Craft family. Known for their unique technology that ensures quiet, smooth operation, Velvet Drive’s products are built to the highest quality standards. Since the acquisition, Velvet Drive has introduced groundbreaking new products and experienced significant growth. Their transmissions are now used in a wide range of applications, including tournament ski and wakeboard boats, high-performance boats, inboard cruisers, sport fishing boats, sailboats, commercial fishing boats, trawlers, center consoles, runabouts, and yachts.
Parker Marine, founded by the Parker family in 1972, joins the Correct Craft family and changes its name to Parker Offshore, LLC. Known for crafting durable and highly functional offshore and inshore fishing boats, Parker boats offer an exceptional on-water experience built to last a lifetime. With a legacy of quality, performance, and reliability, Parker has expanded its markets from the Florida Keys to San Diego, CA. In 1986, the company moved to its current facility in Beaufort, NC, and later expanded in response to growing demand. Today, Parker continues to deliver exceptional vessels for generations of boating enthusiasts.
2021
Ingenity, part of Watershed Innovation, is founded as part of Correct Craft’s initiative to ideate, iterate, and incubate disruptive technologies that enhance the boating experience. At Ingenity, the focus is on creating environmentally conscious solutions for the most demanding boating applications, ensuring that customers can enjoy exceptional experiences without compromising their values. Watershed Innovation, established in the same year, supports Ingenity’s mission by driving technologies that make life better for those who love spending time on the water.
2022
Indmar Marine Engines, with over 50 years of experience in the inboard marine industry, joins the Correct Craft family. As the world’s largest privately held manufacturer of gasoline-powered inboard marine engines, Indmar has a proud tradition of driving innovation. Like an athlete pushing the limits, the company has introduced groundbreaking technologies that have enabled both the sport and the industry to progress and grow, continuously pointing the way forward.
After acquiring Indmar, Liberty Technologies was born as a hub for innovation in marine technology. Managing Pleasurecraft Engine Group, Indmar Marine Engines, and Velvet Drive Transmissions, Liberty provides the support these leading brands need to thrive, ensuring they set the standard for performance and quality.
Mach Connections, a subsidiary of Correct Craft, is acquired and rapidly gains recognition as a leader in OEM panel production, hydrographics, wire harness manufacturing, and battery cable assemblies. Known for high-quality products and exceptional customer service, the company’s team of experts brings extensive experience in the marine industry. Mach Connections is dedicated to providing the most suitable electrical solutions for clients, ensuring boats stay connected and operate efficiently.
Built on the acquisition of Mach Connections, StarFlite Technology Group leads the way in advanced marine technology. With Merritt Precision, Osmosis, and Mach Connections under its banner, StarFlite drives innovation and delivers exceptional solutions that shape the future of the marine industry.
2025
Correct Craft reached a historic milestone, 100 years of crafting world-class boats and experiences on the water. This celebration honored our legacy while reinforcing our commitment to innovation, stewardship, and continuous improvement as we move confidently into the future.