An Elkhart, Ind., company is interested in buying the assets of West Frankfort-based Crownline Boats, according to trade publications.

Soundings Trade Only Today, which publishes news for marine industry professionals, reported on its Web site Wednesday that Nautic Global Group "has entered into a non-binding letter of intent to acquire the assets of Crownline Boats."

Soundings cited a Nautic Global statement saying the transaction is not complete, and it is working with the sellers, investors and Crownline's dealer network.

Boating Industry also reported the pending transaction, saying the initial due diligence and bidding processes are complete, but Nautic Global says additional steps must be taken.

"NGG investors and management of NGG are working diligently to expedite the process in order to restore Crownline operations and protect the brand and the dealer network from eroding in today's challenging market," the company said in a memo reported by Boating Industry. As part of the acquisition process, Nautic told Crownline dealers that they would be seeking dealer input through interviews and online surveys during the coming weeks, Boating Industry said.

According to its Web site, Nautic Global Group is the fourth-largest boat builder in the U.S. and markets nine brands, including Godfrey Marine and Rinker Boats. NGG is composed of a partnership of between the private equity firm Code Hennessy and Simmons LLC and senior management of Godfrey Marine/Rinker Boat Co, according to its Web site.

Several attempts by The Southern Illinoisan to reach Crownline and NGG personnel were not successful on Wednesday.

Crownline laid off 133 workers in July 2008 and couldn't guarantee steady employment for those who remained. Production at the West Frankfort facility has been halted since December, and the company recently notified workers they would not be returning to work on June 1, as was originally planned after the December shutdown.

mark.fitton@thesouthern.com / 618-351-5807