By: Scott Way
Canadian legacy brand Limestone Boats has been extremely active 2021. The once commonplace midsize runabouts were a staple in Eastern Canada and the Northeast before being relaunched in September 2020. Since then, the company has acquired a new manufacturer in Tennessee, debuted their first new model under the new arrangement, and launched a new flagship under subsidiary brand Aquasport which they acquired in the manufacturing deal.
This week the company announced Peter Pigott as their new chief financial officer. Pigott comes with a sterling reputation as a CPA with over 35 years of experience with other major brands including West 49 and Sleep Country Canada, both of which were lead to successful IPOs, as well as the re-listing of Entertainment One on the London Stock Exchange.
"Mr. Pigott brings a wealth of experience to our team,” said Limestone CEO Scott Hanson. “Demand for our boats is increasing due to growing awareness of the Limestone and Aquasport brands among both consumers and the marine dealer network. Pete’s vast experience and leadership will be crucial in Limestone’s growth initiatives, including the scaling of production at the Tennessee facility and the Company’s future EV model integration capabilities through our partnership with VISION Marine.””
"In my career, I've always partnered with great entrepreneurs, great brands and high growth companies,” added Pigott. “Scott Hanson, the Limestone brands and their enormous growth opportunity deliver an ideal fit.”
The last quarter of 2021 will remain busy for Limestone as they gear up for an ambitious 2022. A round of non-brokered financing in May resulted in $14.1 million for the development of the company's manufacturer Ebbtide Holdings in Tennessee, where both the Aquasport and Limestone brands are produced.
You can check out Limestone's all-new L-200CC in the video below: