Transaction Announcement

Boomerang Marine and Powersports (Boomerang) is an established marine & powersports dealership with locations in Melrose & Alexandria, MN.  The company provides sales, service and related apparel/accessories for customers across Northern Minnesota. Over the past several years, Boomerang expanded their product lines to include additional recreational products, such as docks and towable fish-houses. The diversification of manufacturers and product lines provided additional options for customers and helped secure their place as one of the premier locations within the region.

The shareholders of Boomerang retained Faelon Partners, Ltd. To assist them in valuing, negotiating, and structuring a transaction. After many meetings and reviewing potential buyers, the owners chose The Pearo Family as their successor.  The Pearo Family is a third-generation family business with roots in RV & Motorhome sales.  They have multiple locations across Minnesota and feel Powersports is a natural progression to enhance customer experience.  Despite the Coronavirus pandemic and its effects on the economy, both sides were able to successfully close the deal at the end of 2021.

The transaction was funded by Union Bank & Trust, Minneapolis, MN. Jeff Schrempp, President/CEO, said, “We congratulate The Pearo Family on their continued success and expansion of their dealerships.  My 50-year banking relationship with The Pearo Family started with their founding grandfather.  Three generations of record-breaking success is rare for almost any small business.  We’re proud to be part of their rich history.”