Opa Locka, FL and New York, NY – July, 2019 – Invincible Boat Company, a premium highperformance
saltwater fishing boat brand, and EagleTree Capital, on behalf of its private equity fund
EagleTree Partners IV, today announced that EagleTree has recently acquired a majority stake in

The Company’s founder, Alex Lipworth, will continue to guide product development, serve on
the Company’s board of directors, and retain a significant stake in the Company. Alongside the
investment, John Dorton, former CEO of EagleTree portfolio company MasterCraft Boat Company, has
joined Invincible as Chief Executive Officer. Terms of the transaction were not disclosed.

Headquartered in Opa Locka, Florida, Invincible manufactures and sells high-performance semi-custom
saltwater fishing boats. Invincible was founded in 2006 by Alex Lipworth, an entrepreneur and
competitive fisherman with a desire to set a new industry standard in the saltwater fishing category.
Since its inception, Invincible quickly gained recognition as the highest performing and best built brand
in the market.

“I’m delighted to have the opportunity to join a company that builds such incredible boats” said Mr.
Dorton. “It’s an honor to partner with Alex, the rest of Invincible’s talented management team, and the
most dedicated craftsmen in the saltwater space. I’m a big believer in the premium saltwater fishing
category as one of the most stable in the industry, with passionate customers that recognize quality and

Mr. Dorton is a 25-year industry veteran, having led MasterCraft, Hydra-Sports and
HeyDay. He has also served on the boards of the NMMA and the WSIA.

“We are excited to partner with John Dorton and EagleTree. Their experience in the boating industry
and the resources they provide will help Invincible achieve new heights,” said Mr. Lipworth. “We look
forward to accelerating our new product development, investing in the Invincible brand, growing our
manufacturing capacity, and enhancing our customer experience and dealer support systems.”

“We are thrilled to partner again with John Dorton, and with Alex Lipworth and the entire Invincible
team,” said George Majoros, Jr., Co-Managing Partner at EagleTree. “Invincible has built a tremendous
reputation based on its outstanding boats and we’re delighted to have the opportunity to build on the
strong foundation that Alex created.” Stuart Martin, Partner at EagleTree, said, “With this infusion of
new capital and resources, we are confident that Invincible will be able to accelerate its growth for the
benefit of its customers, distributors, and employees.”

VRA Partners served as financial advisor and Holland and Knight LLP served as legal advisor to Invincible.
Jones Day served as legal advisor to EagleTree.

About Invincible Boat Company

Invincible Boat Company is a premium high-performance saltwater fishing boat brand. It is
headquartered in Opa Locka, FL with over 260 employees. Invincible’s current product portfolio includes
eight semi-custom models ranging from 33’ to 42’ in both monohull and catamaran designs

About EagleTree Capital

EagleTree Capital, formerly Wasserstein Partners, is a New York based private equity and investment
firm. It manages capital on behalf of global institutional and individual investors. EagleTree’s private
equity funds invest primarily in the media and business services, consumer, and water and specialty
industrial sectors. For more information, visit

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