Shrewd decision sets up boating business to make big waves

Thanks partially to o a $5 million investment, IMM Boat Lifts is set up a boating industry business to make big waves.

By Beth Luberecki
| 6:50 p.m. July 21, 2021
| 0 Free Articles Remaining!

Stefania Pifferi. The Nanda family, Steve, Mike and dad Ashok plan to continue growing Fort Myers-based IMM Quality Boat Lifts.

Strategies

Like many other people in this area, Michael Nanda had tried his hand at real estate, flipping homes and buying rental properties. But when the housing market crashed in 2008, he sought a new venture. He and his father, Ashok, began looking for a business to purchase. And that’s when they found Fort Myers-based IMM Boat Lifts.

It was a great fit for everyone involved. The owner wanted to sell but was willing to stick around for a while to teach them how he did it. Ashok had a manufacturing background, and Michael had an MBA and previous business experience he could apply to running and growing the company. “We thought it was something we could learn about, and also have some support from the previous owner who didn’t want to just get out of the business,” says Michael, 46.