SeaDek Becomes An Employee Owned Company

Rockledge, FL, August 9, 2015  SeaDek Marine Products, an industry leader in innovative marine non-skid products, has announced that they have become an Employee Owned Company.

With the help of The Menke Group, the principal owners of SeaDek; Kurt Wilson, Jim Wilson, Jason Gardner and Chuck Yates, have extended ownership to over seventy full-time staff members through the implementation of an Employee Stock Ownership Plan (ESOP).

In addition to helping create financial security for employees, the plan is designed to encourage and reward increased employee productivity and efficiency. According to The Menke Group, a 5% or 10% increase in individual employee productivity can result in increasing company profitability by 50% or more. The ESOP creates a direct link between employee productivity and employee benefits.

“In the earliest days of SeaDek it was an entrepreneurial spirit that drove us to change the way boaters connect with their boats,” said Kurt Wilson, company president. “We’ve worked hard to foster that same spirit in our employees so they’re committed to the ongoing problem-solving process that is at the core of any growing business. We let them be creative in their work and then take responsibility for it. It’s worked well for us and our people take great pride in what they do. Now, we’re taking idea of employee entrepreneurship to its full expression. We’re giving everyone in the company an ownership stake in SeaDek. It’s a very exciting time for us.”

About SeaDek
SeaDek Marine Products is the leading manufacturer of a range of EVA non-skid products for marine and water-sports use.  SeaDek is a viable alternative to carpet and molded-in nonskid products. The company’s line of products are targeted to OEM boat builders, resellers and end-users, including well-known boat manufacturers such as Sea Ray Boats, Nautique Boats, Monterey Boats, Yamaha Boats and others. The company saw early success manufacturing cutting-edge surf products and nonskid traction pads, including X-Trak® Surf Traction and K-Grip®, a line of pads designed for world champion surfer Kelly Slater. The company later expanded its product offerings to the marine industry thanks to their innovations in marine-grade EVA decking materials. 

In 2014, SeaDek moved from its original 17,000 square foot building into their current 72,000 square foot facility. An economic recovery in the marine industry has helped them create steady growth, bringing jobs and opportunities to the communities along Florida’s Space Coast.

 

About ESOPs (Employee Stock Ownership Plan):
“ESOP” is an acronym that stands for Employee Stock Ownership Plan. Technically, the Plan is operated or administered pursuant to a tax-exempt Trust, referred to as ESOT, Employee Stock Ownership Trust. Accordingly, the Plan is alternatively referred to as the ESOP or the ESOT.

The purpose of an ESOP is to enable employees to acquire beneficial ownership in their Company without having to invest their own money.

The Plan is also a tax-exempt entity for Federal and state corporate income tax purposes. This enables the Company to make cash and/or Company stock contributions to the Trust, which are used to acquire stock of the Company on behalf of its employees. The advantage of the ESOP is that employees are able to acquire this stock without paying a current income tax on the stock. Again, this results from the fact that the contribution is made entirely by the Company and is not taxed to employees personally as it is allocated. The advantage to the Company is that the ESOP makes pre-tax dollars available to finance Company growth and/or to create ownership liquidity at the time of retirement. Because employees are not taxed currently on the stock which is acquired for their benefit, they are able to acquire up to twice the amount of stock which they could acquire if a Trust arrangement were not used. That is, if shares of stock were issued to an employee by the Company, that employee would be taxed currently on the value of those shares. Also, if an employee buys stock directly from the Company or other shareholders, that employee is using “after-tax” funds rather than pre-tax dollars. The use of a Trust eliminates this tax problem since the Trust is not taxable and frees employees from income tax liability until the shares are distributed. 

The Oakland, California-based think tank National Center for Employee Ownership estimates that there are approximately 11,300 employee stock ownership plans for over 13 million employees in the United States. Notable U.S. employee-owned corporations include the 150,000 employee supermarket chain Publix Supermarkets, Hy-Vee, McCarthy Building Company, environmental consulting firm Citadel Environmental Services, Inc., the craft brewery New Belgium Brewery, and photography studio company Lifetouch. Today, most private U.S. companies that are operating as ESOPs are structured as S corporation ESOPs (S ESOPs).

 

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Visit SeaDek at Surf Expo – Booth 338

Surf ExpoSurf Expo 2015 will be going down this week in Orlando, Florida at the Orange County Convention Center. SeaDek will be located in the Wake section of the show at booth 338. Stop by and say hello to the crew and see what’s new for 2016. We’ll also have a one of a kind Custom SeaDek SUP kit on display at the front entrance display.

In addition to the booth display you’ll also be able to see us at the Alliance Wake Lounge, booth 118. Check out the custom Yeti Cooler tops we made for this year’s Beer and Premiers. Learn more: http://www.alliancewake.com/

RDI will have SeaDek SUP traction kits on sale and for display at their booth 969. Check out their website: http://www.rdistributing.com/

The Wake section of Surf Expo continues to grow and there will be some incredible boats on display. SeaDek products are featured on all of the leading makes and models. At this show you’ll have a great opportunity to touch and feel all of the SeaDek options.

Trade Show Details
Surf Expo 2015
September 10-12, 2015
Thur & Fri: 9 am – 6 pm
Saturday: 9 am – 4 pm
Orange County Convention Center
SOUTH HALL AGAIN!
9899 International Drive
Orlando, Florida 32819

Seadek_SurfExpo_2015_001About SeaDek Marine Products
As the marine industry leader, SeaDek non-skid, closed cell EVA products offer safe and comfortable alternatives to molded in non-skid, paint-on textures, boat carpet and other marine traction products currently available. Made from UV protected non-absorbent foam, SeaDek features innovative, textured surface patterns for enhanced non-slip characteristics. Formulated with a 3M™ acrylic based high-bond pressure sensitive adhesive, SeaDek’s robust, peel-and-stick application makes it easy to install and requires no mounting of hardware. Easy to clean and stain resistant, SeaDek also provides protection for boat surfaces, especially in high traffic areas. Other benefits that SeaDek offers include:

  • Exceptional traction even when wet

  • Unparalleled comfort when standing, walking or leaning on boat surfaces

  • Shock absorption, which decreases fatigue

  • Protection for boat surfaces against scratches, chips and dents

  • Noise reduction characteristics – ideal for fishermen

SeaDek can be tailored to fit a wide variety of application on just about any type of boat, including: sports & commercial fishing boats, flats boats, sailboats, ski boats, commercial marine craft, house boats, personal water craft, towboats and more. If you have a boat, you have a place for SeaDek.

Stay tuned to our Flickr page for photos from the show: www.flickr.com/photos/seadek.For more information about Surf Expo 2015 please visit their website at: http://www.surfexpo.com/.

For information on SeaDek products, please visit our website at www.seadek.com.

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Zeus – SeaDek Dog

Meet Zeus. An avid kayak angler, Zeus enjoys riding on the bow of his Hobie Revo 13 while his buddy Kyle fishes. Since the surface of his kayak is slick, Zeus was having a hard time staying on, and was constantly slipping in to the water. Luckily, Kyle thought of the perfect solution to keep Zeus on board. SeaDek!

Zeus before_smallKyle had a custom SeaDek kit made to keep Zeus from slipping into the water. This 23mm Dark Gray over Aqua Camo kit is 23mm thick, and routed down to about 5mm to provide a space for Zeus to sit and a lip around the edge of the pads to ensure that he stays on board.
Zeus 2_smallNot only do these pads provide stability with their exceptional non-skid characteristics, they also provide comfort for long hours on the water.

Zeus 5_smallZeus 1_smallZeus 3_smallNow Zeus can enjoy fishing with Kyle without slipping of the kayak.

Zeus 4_small

Stock SeaDek kayak kits are available for order on our webstore: www.seadek.com/c-97-kayak-non-skid-pads.aspx.

To order a custom kit, please contact customer service at customerservice@seadek.com or 321-632-4466. Reference part number: 21196-80518.

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SeaDek Giveaway! #SeaDeked

Another SeaDek giveaway! This weeks’s winner will recieve a SeaDek Fish Ruler! There are several ways to win:

SeaDeked_Contest_0003
1. Like this post on FaceBook. 2. Share/Comment on this post. 3.Post your own photo with the hashtag #SeaDeked

Here is the direct link to our FaceBook Page: https://www.facebook.com/SeaDek

Winner will be chosen Friday September 4th at 2:00pm EST

Fish Rulers can always be purchased here:
http://www.seadek.com/c-99-fish-rulers.aspx

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#SeaDeked Winner!

Congratulations to Kaylee Crisp @kaycrip , this week’s winner of a #SeaDek helm station pad and performance dry-fit shirt! Please send us your mailing address and shirt size to promotion@seadek.com

imageThanks to everyone who entered this week and keep an eye out for our next #SeaDeked giveaway!

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SeaDek at the 2015 Malibu Open

The 2015 Malibu Open is coming up this weekend, August 28th and 29th, in Milwaukee, Wisconsin. SeaDek is once again an event sponsor of this prestigious waterski event, so be sure to look for the blue SeaDek tent and stop by to say hello!

Screen Shot 2015-08-25 at 12.08.10 PM

The Malibu Open will return to Veteran’s Park Lagoon for the 6th consecutive year to showcase the world’s best professional and junior waterski athletes. The event is free and open to the public, and will be broadcast on TV locally and through a live webcast.

www.malibuopenfestival.com
www.malibuboats.com
www.facebook.com/pages/The-Pro-Ski-Tour/231448585318
www.facebook.com/malibuboatsfan

 

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SeaDek Customer Photos

Check out the photos of these newly SeaDeked boats sent in by our customers.

1987 Bayliner – 6mm Mocha/Black Faux Teak
bayliner1 bayliner2 Reference part number 21082-80093.

2007 Crownline 270 BR – 6mm Mocha/Black Faux Teak
Crownline a Crownline b Reference part number 21133-80093.

2001 Ranger R91 – 5mm Storm Gray with an Embossed Finish
ranger1 ranger2 ranger3 Reference part number 19671-80017.

2014 Stingray 192SC – 6mm Mocha over Camel Faux Teak
stingray1 stingray2 Reference part number 20817-80095.

We love seeing photos of SeaDek pads installed on the boats, kayaks and SUPs they were made for. Be sure to send any SeaDek photos to photos@seadek.com.

To order custom SeaDek for your boat, please contact customer service at customerservice@seadek.com or 321-632-4466.

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#SeaDeked Giveaway!

Win a SeaDek helm station pad and performance dry-fit shirt! Simply follow us on InstaGram (https://instagram.com/seadek/) and hashtag a photo with #SeaDeked to be entered to win. You can hashtag one of our photos or post one of your own.

SeaDek_IG_ContestA winner will be chosen Friday August, 28th at 2pm EST

Helm pads and performance shirts can always be purchased here:

http://www.seadek.com/p-483-performance-shirt.aspx

http://www.seadek.com/c-11-helm-station-pads.aspx

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SeaDeked Maverick by Xact Customs

SeaDek Certified Fabricator Mike Meier from Xact Customs just finished a custom under gunnel kit for a 2012 Maverick 18HPX (www.maverickboats.com). This kit features two custom routed fish graphics and looks great! Thanks for sharing Mike!

undergunnel2undergunnel1

Xact Customs
Tavernier, FL 33070
Ph: 305-852-3639
Email: http://www.xactcustoms.com/contact-us.html
Website: http://www.xactcustoms.com
Facebook: www.facebook.com/xactcanvas

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Coaming Bolster Installation – Boating Magazine

Kevin from Boating Magazine shared his step by step process of installing custom SeaDek coaming bolsters for his Regulator 23: www.boatingmag.com/seadek-coaming-bolster-pads-installation?src=soc&dom=fb.

Bolsters1_small Bolsters3_small Bolsters2_small

Kevin’s bolsters are 23mm White over Storm Gray with a 64″ routed fish ruler (reference part number 17871).

SeaDek Coaming Bolsters can be ordered in pairs of two from our webstore in a variety of colors: www.seadek.com/c-8-coaming-bolsters.aspx.

The get a quote for custom bolsters, visit: www.seadek.com/quoteformcoamingbolsters.aspx.

Check out Kevin’s book: Falvey’s Guide to Fishing Long Island.

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