TY and Trinity Form Gulf Coast Shipyard Group

Tuesday, May 28, 2013

TY Offshore, Llc. and Trinity Yachts, Llc. announced the formation of the Gulf Coast Shipyard Group along with its new investment partner, Littlejohn & Co., a multi-billion dollar private equity firm based in Greenwich, Conn. Gulf Coast Shipyard Group will own and operate two major Gulf Coast based shipyards engaged in the new construction of commercial, military and luxury yachts. The Company will also operate International Yacht Collection (IYC), a wholly owned yacht brokerage unit.

Management is enthusiastic about its partnership with Littlejohn, which has a track record of investing in and working with management teams to build significant competitive enterprises in their target industries. In addition to other positive industry dynamics, management and Littlejohn view the growth opportunities in the Gulf Coast as historic in proportion. Felix S. Sabates Jr. will step down as Chairman to become an advisor and consultant to the new organization.

John Dane III, President and CEO of TY Offshore and Trinity Yachts said,“We will be starting a long-planned $9 million capital improvement program to the Gulfport, Mississippi yard which will increase our efficiency and annual output. These improvements will also upgrade our Syncrolift to 4,300 tons in anticipation of ice class vessels for Arctic operations.”
 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

COSCO Delivers Bulker

The Board of Directors of COSCO Corporation (Singapore) Limited announced that COSCO (Dalian) Shipyard Co., Ltd a subsidiary of the Company's 51% owned COSCO Shipyard Group Co.

Navy to Commission Submarine North Dakota

The Navy will commission its newest attack submarine North Dakota, during a ceremony Saturday, Oct. 25, 2014, at Submarine Base New London in Groton, Connecticut.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1125 sec (9 req/sec)