What is API Marine?
Founded in 1963 in Miami, FL, API Marine initially specialized in remanufacturing marine starters, alternators, and power trim/tilt motors. The company was acquired in July 2013 by SEI Marine Products, a global leader in aftermarket lower units. This strategic acquisition integrated API Marine's premier brand and manufacturing expertise into SEI's expansive portfolio, solidifying API Marine's role as a leading supplier of new marine starters, alternators, and power trim/tilt motors to both marine distributors and original equipment manufacturers (OEMs). The company's evolution from a remanufacturer to a new product supplier highlights its adaptability and commitment to growth in the competitive marine aftermarket sector.
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 a history rooted in providing essential marine components and now bolstered by the resources of SEI Marine Products, API Marine is poised for continued expansion. The recent strategic investment signals a commitment to further developing its product lines and market reach. This capital will likely fuel advancements in manufacturing capabilities, supply chain optimization, and potentially the introduction of new product innovations to meet the evolving demands of marine dealers, distributors, and OE accounts. API Marine's trajectory suggests a focus on leveraging its established brand and manufacturing prowess to capture greater market share in the global marine aftermarket.
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