Boston Whaler - the story of the 'unsinkable' boat.

The Legendary Boson Whaler - from the beginning.

While researching this piece over the weekend, I became enthralled. A YETI cooler, in the form of a boat!? Or, maybe the Whaler was the inspiration for the Seiders back in the day… As usual, we’ll start at the start.

In the 1950s, the invention of polyurethane foam, a rigid, lightweight, and buoyant material, caught Dick Fisher's attention. Richard "Dick" Fisher graduated from Harvard in 1936 and had previously established a company that specialized in constructing small, lightweight boats made from balsa wood. Despite designing a rowboat and gathering the necessary materials for its construction, he never finished the project. However, in 1954, Fisher built a small sailing dinghy filled with polyurethane foam, resembling the design of the Sunfish. When finished, he showed the boat to his friend, naval architect C. Raymond Hunt. While Hunt acknowledged the innovation, he believed the design was not ideal for use in sailboats as Fisher thought. Instead, he proposed a design inspired by the Hickman Sea Sled, featuring a cathedral hull. (“The Hickman Sea Sled is an inverted vee planing hull invented by Albert Hickman. The Sea Sled is a direct forerunner of the modern high speed catamaran or tunnel hull. The reduced friction is due to a "trapped" gas film between the hull surface and water. A similar effect is seen in super-cavitating torpedoes where a gas generator creates a film separation to water friction.”)

Actually, the Fisher-Pierce company, which manufactured the eventual Boston Whaler boats, was established two decades before the boats entered mass production. They started manufacturing a host of other electrical products, with minimal financial resources and limited tools in a small workshop in Fisher's backyard. Despite these initial challenges, they compensated for the shortage of funds with American innovation and a deep commitment to excellence

Fisher proceeded to create a prototype using Styrofoam and Epoxy, incorporating two keels and an anti-skid, anti-trip chine. After testing the boat extensively during the summer and expressing his enthusiasm for it, Fisher encountered handling and cavitation issues when sailing in rough weather that fall. The cavity in the hull caused air to be forced into the water and back into the prop under heavy load and off-plane conditions. Seeking a solution, Fisher consulted Hickman, the original designer of the wooden Sea Sled, but Hickman believed no modifications were necessary. Fisher then experimented with fiberglass applications on the hull bottom through a trial-and-error process, refining the design based on performance feedback.

The prototype boat eventually evolved to feature a slight V bottom and two runners on the sides. Fisher sought Hunt's expertise to evaluate the design modifications, leading to the addition of a third runner in the center of the hull. Fisher proceeded to construct a prototype based on this new design to serve as a plug for the production mold.

As sea trials began, they also named the boat ‘Boston Whaler’. The story goes that whaler came from the similarity to an old whaling dory that got whisked off after harpooning a whale, and Boston, because they were from Boston!

One of the tests involved taking the 13-foot boat from Cohasset, Massachusetts to New Bedford and back, covering a distance of approximately 120 miles. During these trials, Fisher discovered a small flaw in the boat's design: it was extremely wet. He mentioned that it was much wetter than the other boat he had tested before. According to him, the reason for this was the 9-inch-wide sole that was causing spray to enter the boat. Since the mold was already made, they decided to modify it by adding a V-shape to the flat center between the three chines. This modification eventually led to the creation of the original Boston Whaler in 1956.

He eventually declared that the Boston Whaler was unsinkable. To demonstrate this, Fisher, a philosophy major with a flair for showmanship, would attend boat shows and cut the 13-foot boat in half. He would then navigate around in either the front or back portion of the boat. In 1961, Life Magazine featured Fisher and his modified boat in a photo spread, leading to a surge in sales and securing a place in maritime history. A Boston industrial arts teacher named Bob Dougherty came to work for Boston Whalers in the early 1960's. Dougherty would become, among other things, the chief designer of the later generations of Whaler boats.

It's common to hear people call Fisher a genius, inventor, tweaker etc.. He had been running Boston Whaler for more than ten years when he was 55 years old, in 1969. Maybe his goals were to retire early, return to other interests, experiment with new ideas, or simply seek out new challenges. Regardless of the reason, Fisher sold the Boston Whaler business to the specialty marketing firm CML-Group of Acton, Massachusetts, in 1969. Fisher continued to serve as an advisor following the sale until 1972.

The maritime tradition lives on as boating season kicks off in the Northeast once again. Classic Whalers are still a common sight on New England waters, proving their unsinkable reputation. Quentin Snediker, curator at the Mystic Seaport Museum, notes that these boats strike the perfect balance between seaworthiness and enjoyment.

These timeless vessels, produced until the early 1990s, are cherished for their sentimental value and affordability. Ranging in size and design, classic Whalers are often equipped with a center console for standing steering, a feature that set them apart. Despite newer boats costing over $100,000, these old Whalers are a top choice for those entering the boating world on a budget or with limited experience, thanks to their reasonable price range of $5,000 to $25,000 and easy towing capabilities.

This sums up the brand:

“For so many people, their first tangible experience of being on the water was in a Whaler, and the fact that you can grow up and buy the boat your grandfather had means something. It’s a feeling worth replicating.”

Sound familiar? As it happens, Fisher really was a trend setter. Federal law now mandates that all boats under 20 feet designed for ocean use must be “unsinkable,” but it’s a term still closely identified with the Whaler brand, all due to those early iconic images of Fisher sawing the boat in half, according to Matthew D. Plunkett, the author of “Unsinkable: The History of Boston Whaler.”

An aside - I was going to buy the book when researching, but $249 was a bit much for a book. Although I may be tempted as I learn more about the brand…

They call this ‘putting your money where your mouth is’…

The original whalers performed well in rough weather conditions and were lightweight enough to be powered by lower horsepower engines. The classic 13 ft 4 in (4.06 m) Whaler and the 16 ft 7 in (5.05 m) Montauk were the top-selling models until the late 1980s. However, the company eventually shifted to more conventional hull designs, discontinuing the classic tri-hull boats after 1996, much to traditionalist’s dismay.

In 1969, CML Group acquired the Boston Whaler operation from Fisher-Pierce. Within the CML-Group, Boston Whaler vessels thrived and sales boomed. The CML Group, known as "Consumer Marketing Lifestyles," was a newly established, modest conglomerate in search of companies to merge with. Over time, they would create a solid portfolio featuring reputable brand names and superior products such as Nordic Track and The Nature Company. Boston Whaler became the CML Group's primary significant acquisition, and it appeared to align well with the Whaler corporate ethos. In 1987, a second production facility was established in Edgewater, Florida and in 1988, a new company headquarters opened in Rockland, Massachusetts.

In what has been speculated as a means to avoid a potential hostile takeover of CML by Irwin Jacobs, head of boat conglomerate GENMAR Corporation, in 1989, Boston Whaler was sold by CML to the Reebok Shoe Company. Athletic shoes sell at huge multiples of their manufacturing cost, their design is driven almost entirely by style concerns, they are typically made overseas by the cheapest labor available, and as a product they have a life span of a year at best. It his hard to imagine that ownership of Boston Whaler could have come from a more different corporate background than Reebok.

“The new owners of Whaler installed new management, and also a new Chief Designer, Peter Van Lancker. A new chief designer meant new designs, and in 1991 they began to appear. When the 1991 catalogue was published, all the previous "classic" hulls were neglected. They were mentioned on only one page of the literature. The entire rest of the catalogue was devoted to announcing and showing the new boats, all with new hull designs. In several cases the new boats were shown only in sketches and drawings; they were so new and innovative there were no pictures available! The new boats took on a more rakish appearance. The beautiful teak and mahogany trim and components disappeared. Gelcoat colors switched to white. Hulls became deeper V's. Critics noted a strong resemblance to the designs Van Lancker produced while with the Black Watch Boat Company.”

In 1991 there was one glimmer of hope. The Van Lancker-headed design team came up with a small I/O jet boat that produced some sales. The Rage was like a cross between a Whaler and a Jet Ski, and it appealed more to youthful wearers of athletic shoes than to salty old fishermen. Its OMC engine would prove to be about as durable as a pair of fancy sneakers, too. Unfortunately, sales of jet boats came mainly at the expense of classic 13-Sport sales, further eroding the future customer base. Whaler sales in 1991 approached $38-million, up a modest 2.5%

In 1992 Reebok reported that Boston Whaler sales were US$45.0 million, an 18.7% increase. Reebok's total sales that year were over US$3-billion. After three years in the boat business, Reebok sold Boston Whaler to Meridian, on July 3, 1993 for just US$20-million, or a US$25-million loss on their three-year old acquisition.

Whaler's new owner, Meridian Sports, also made Mastercraft, a competition style ski-boat designed for operation in calm, protected water, powered by inboard engines, fitted with plush carpet and upholstery, constructed with conventional fiberglass laminates, and designed not so much for the ride it produces but for the wake that it doesn't.

“Millions of people use their Whalers to go water-skiing, but I am still waiting to see the first guy salt-water fishing from a Mastercraft.”

One observer said at the time:

“While Reebok-ownership had been a rough ride for many old-time Whaler boats and employees, having Meridian at the helm would turn out to be a near capsize!”

Suffice to say, it didn’t work. With expansive operations across both Massachusetts and Florida, and a decrease in demand, Meridian shut down all its operations in the Boston area and relocated the entire enterprise to Edgewater. Transplanting a business that had been in the same location for nearly four decades to a new state that is 1,500 miles away was a significant change, likely leaving many long-time Whaler employees behind. The situation was even more challenging when the town you were moving from was also the name of the company. Nonetheless, this move positioned Boston Whaler more closely with the broader boatbuilding industry as a lot of other boatbuilders were already located in the warm-weather, low-cost-labor environment of Florida.

Issues with the OMC engines in the Rage jet boat line led Mercury to introduce their power solutions. Traditionally, Whalers were commonly equipped with OMC outboards. However, Brunswick's marine powerhouse was about to witness the installation of their engines at the manufacturing facility.

On September 25, 1995, the founder of Boston Whaler, Richard T. Fisher, who was 81 years old, passed away at his residence in Florida. He had only spent ten years with Boston Whaler at the very beginning.

In February of 1996, the historic Boston Whaler building located on Hingham Street in Rockland, Massachusetts, was demolished to create space for a new Home Depot store.

Sidenote - in 1998, the CML-Group divested Nordic Track and sought bankruptcy protection, leading to a significant drop in its stock value. This marked the end of CML's era as a favorite among Wall Street investors.

Back at At the Boston Whaler, the situation was not great either. It is believed that the sole reason for Whaler's survival during these times was the revenue generated from the highly profitable Commercial Products Division. This division was responsible for producing high-end and tailored Whaler models for military, law enforcement, and various commercial clients. At this time, Meridian was presented as an initial public offering (IPO), and its financial records were made available for review by potential investors. Take note of the language used in their disclosure about the Whaler division, where they mentioned:

"Boston Whaler produces boats used for fire, rescue and marine governmental patrol, and sport fishing and recreational boats. For the first half of 1994, Boston Whaler had net sales of $25.4 million as compared to $22.3 million for the first half of 1993."

Finally, in 1996, the giant Brunswick Corporation bought Boston Whaler for US$27.4 million in cash and debt (note the multiple of revenue above - quite a deal!). And this brought a ‘rebirth’, in the Brunswick family which also includes Sea Ray, Bayliner, Mercury Marine, Attwood, Lund, Crestliner, Mastervolt, MotorGuide, Harris Pontoons, Freedom Boat Club, Princecraft, Heyday, Lowe, Uttern, Quicksilver and CZone, among many others. Around this same time they paid US$110-million to acquire Igloo Coolers.

The 10-k form to the SEC said:

"On May 31, 1996, [Brunswick] acquired the assets related to the Boston Whaler line of boats from Meridian Sports for $27.4 million in cash and the assumption of certain liabilities. The Company acquired assets, including goodwill that will be amortized using the straight-line method over 40 years. This operation is a part of the Sea Ray Division of the Marine segment."

Conclusion

Today, Boston Whaler sells a variety of vessels including tenders, skiffs, center and dual consoles, express overnighters, crossovers, and robust offshore fishing vessels, spanning from ten to forty-two feet in length. Dick Fisher would be delighted to witness the realization of his creative vision and to know that his “Unsinkable Legend” is thriving once more, surpassing all expectations and being well-managed. In 2021, Brunswick reported sales of US$5.8 billion and is thriving.

It’s a full service ‘aggregator’ or mammoth scale. The industry of constructing boats appears to be following a natural progression, leading to the consolidation of all boat construction firms under the umbrella of companies specializing in outboard motors. This trend is driven by the profitability potential of these two product lines. Boats typically generate modest profit margins when sold, whereas outboards are known to be sold with profit margins of up to 60%. Additionally, the longevity of these products plays a role in their market evolution. Outboards may need to be replaced every ten years, whereas boats that are 20 to 30 years old are not uncommon. The high initial investment required to start producing engines has led to the outboard market being controlled by a few major players, while a large number of small boat companies are competing for the boat market. Consequently, if a boat construction company is not directly owned by an engine manufacturer, it is likely to have a partnership with a specific outboard company for marketing purposes. From the perspective of the outboard engine manufacturer, this arrangement is referred to as "buying transoms." It's interesting to consider why it took so many years for this to happen originally, but the future of Boston Whaler now looks secure.

The parent is run by David Foulkes - low and behold, another product guy, not an accountant! He has been there for 10 years now, and also spent 10 years at Ford Motor Co before moving to Marine which was his ‘Segway’ in. And is there a lesson here? Sometimes, surviving is enough, and a good product will eventually find a way?

Maybe. But that’s certainly not written in stone.

Hopefully you continue to get some value from the newsletter. Thanks for reading and please pass it on to anyone you think will benefit. Feel free to email with any suggestions or feedback. [email protected]

Until next week, and chapter 9, Go n-éirí leat!

Derek