Harken, the rigger is preparing for strategic acquisitions

Winch Harken wins METS award

The famous hardware brand Harken has announced the sale of its Wisconsin headquarters. A transaction that could finance external growth operations in the nautical and industrial sectors, explains CEO Bill Goggins.

Sale of Harken's headquarters in Pewaukee

The American leader in yachting hardware equipment, Harken, has announced the sale of its headquarters in Pewaukee, Wisconsin. Sold for $15 million, the premises will continue to accommodate the activities of Harken, which remains a tenant. The site, with a surface area of 16,000 m², including more than 2,500 m² of offices, was built by the company in 2010. Harken had then made a fine financial operation, by investing in buildings, at the heart of the crisis that began in 2008.

Financing Harken's growth

Harken CEO Bill Goggins told our Trade Only Today colleagues:"Harken is in the strongest economic position in its history. It was just a way to liquidate real estate investments and invest cash in the business."

Harken's strong economic health could push the company to launch external growth operations through targeted buy-outs, officials say. Co-founder and co-owner of the brand, Peter Harken, shares this vision. "We will certainly remain focused on our organic growth. With this sale, we could also consider strategic acquisition opportunities in our marine and industrial markets."

We can recall the commercial and technological partnerships recently established with Ropeye in the field of textile fittings, a major development that has remained the prerogative of smaller suppliers.