What is API Marine?
Founded in 1963 in Miami, FL, API Marine began as a remanufacturing company offering affordable alternatives to new OEM marine starters, alternators, and power trim/tilt motors. Following an asset and intellectual property purchase in 1996 and relocation to Fort Lauderdale, FL, the company evolved into a supplier of exclusively new products for marine distributors and original equipment manufacturers (OEMs). In July 2013, API Marine was acquired by SEI Marine Products, the world's largest supplier of aftermarket lower units for outboards and sterndrives. This acquisition integrated API Marine's premier brand and manufacturing expertise into SEI's portfolio, solidifying API Marine's reputation as a leading supplier in the marine electric parts business.
How much funding has API Marine raised?
API Marine has raised a total of $350K across 1 funding round:
Debt
$350K
Debt (2020): $350K with participation from PPP
Key Investors in API Marine
PPP
Public-Private Partnership
What's next for API Marine?
With its history of strategic acquisitions and product evolution, API Marine, now under the SEI Marine Products umbrella, is poised for continued growth. The recent strategic investment of $350K suggests a focus on enhancing its product lines, expanding market reach, or potentially integrating further technologies within the marine aftermarket. As a key player in supplying essential components to major OEMs and distributors, API Marine's trajectory will likely involve leveraging SEI's global presence and aftermarket leadership to drive innovation and maintain its competitive edge in the marine electrical parts industry.
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