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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


The Future of Well Intervention

Herrenknecht and Ulstein are due to present their vision of the future of heavy well intervention at the Offshore Energy 2015 exhibition in Amsterdam this week.

Market Growth to Bring More Carnival Ships to China

Eying a rapidly growing cruise market, Carnival Corporation announces plans to sail more ships from China The Chinese cruise market, expected to become the world’s

Insights: Matthew Paxton, SCA President

Matthew Paxton is President of the Shipbuilders Council of America (SCA), and a partner at the law firm of Adams and Reese. SCA is the national trade association


IMTRA Debuts Omega LED lights

IMTRA today released its Omega LED lights. Designed specifically for recessed lighting applications in large yachts, the DC-powered Omega LED lights feature a high-quality,

Volvo Ocean Race Partners with Yacht Racing Forum

The Volvo Ocean Race has agreed a three-year partnership with the Yacht Racing Forum.   "We are delighted to welcome the Volvo Ocean Race as a long-term partner,

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1130 sec (9 req/sec)