Boating Industry - NMMA Sells TIBS to New Company, Canadian Boat Shows Inc.

NMMA Sells TIBS to New Company, Canadian Boat Shows Inc.

In a surprising move, the NMMA announced on March 9th that they had sold the Toronto International Boat Show to Canadian industry stakeholders. The newly formed Canadian Boat Shows Inc. (CBSI) announced the completion of an agreement to purchase the Toronto International Boat Show (TIBS) from the National Marine Manufacturers Association (NMMA). The sale is expected to be finalized March 31, 2010.
The 52-year-old boat show has been owned by Chicago-based NMMA since 1992 when it was purchased from Canadian National Sportsmen’s Shows. With its world-renowned “indoor lake,” it is one of the largest consumer boat shows in North America and one of the preeminent selling venues for the industry.
Formed for the purpose of the acquisition, CBSI consists of president and TIBS show director Linda Waddell; the Ontario Marine Operators Association (OMOA); long-time Canadian show producer Peter Kiddell of Canwest Shows; and a group of investors. Specific terms of the sale were undisclosed.
The release quoted Al Donaldson, executive director of the OMOA, the largest recreational marine trade association in Canada as saying, “TIBS is a world-class show, produced by a world-class team. Our board of directors is delighted that the OMOA has been able to acquire an ownership position in this new venture.” Donaldson will chair the CBSI board of directors.
“Bringing ownership of the show back to Canada is a great opportunity for our industry,” says Linda Waddell. “Many of our shareholders, including the OMOA, have long been key stakeholders in the recreational boating industry in Canada. Successful and innovative business leaders, they are keenly interested in the sustained success and positive economic impact of the show.”
Waddell is a 23-year industry veteran whose career spans both Canada and the United States, most recently as NMMA’s vice president, northern shows. Waddell’s commitment and roots with the show run deep -- she was TIBS show manager prior to NMMA’s acquisition in 1992.
On the heels of its recent acquisition of the New England Boat Show in January, the sale of the Toronto International Boat Show comes as the NMMA continues to reposition its boat show portfolio. The release from the NMMA in Chicago stated that this “repositioning” is part of a larger long-term strategy, enabling the association to continue to best serve the industry’s advocacy, marketing, and research and statistics needs while producing quality boat shows in key markets throughout the United States.
“Selling the Toronto show is a strategic decision that allows us to expand our reach in other markets and better position NMMA to best serve the industry for the long term,” notes NMMA president Thom Dammrich. “There are a lot of opportunities for NMMA and the recreational boating industry as the economy rebounds and we make changes to better align with shifts in the economic climate.”
The NMMA has also been the show manager for the Vancouver International Boat Show, owned by the marine trade association there. Boating Industry Canada reached Jane McIvor, executive director of The BC Marine Trades Association, (BCMTA) who own the Vancouver International Boat Show (VIBS).
“This is great,” McIvor said, “It’s very positive for the industry and we understand this is just part of the NMMA reconfiguring for future success.”
When asked how the news about TIBS might effect the BCMTA Show, McIvor stated, “We don’t know yet what NMMA or the new CBSI will do with VIBS but I expect that will be discussed shortly. However, all the industry players will be pleased – this is very good.”
“I see this as a fantastic development,” stated John Kerr, Olympic medalist in sailing and publisher of Canadian Yachting magazine, “This gives CBSI, Linda Waddell and Al Donaldson and the OMOA the opportunity to reinvest through the show, in Canada’s marine infrastructure. I remember as a young man, how a little support from the Toronto Boat Show was a significant help for me, as a competitor in the 1984 Olympics in LA. They helped others as well. The money stays here in Canada and we support our industry. This is great.”
It’s business as usual for the 2011 Toronto Boat Show scheduled to run January 8 to 16 at the Direct Energy Centre, Exhibition Place, confirms Waddell. “Working together with the TIBS show committee will continue; this relationship has been a key factor in the show’s long time success. In addition, our staff will remain intact and in touch, based out of the same TIBS offices in Bolton.”
The company has retained the show team of Cynthia Hare, show manager; Scott MacInnes, sales manager; Kim Blair, operations manager; and Ruth Krentz, administrative manager.
The NMMA has also announced that it will maintain its presence in Canada, to serve the needs of marine manufacturers doing business in Canada, with its team dedicated to government relations, member communications, research and statistics and the Canadian Discover Boating campaign. The Canadian team is led by Sara Anghel, Vice President for NMMA Canada. NMMA Canada will remain in its Ontario headquarters at 14 McEwan Drive, Suite 8, Bolton, Ontario. For information, contact Sara Anghel at sanghel@nmma.org.