Hatteras Yachts/Cabo Taken Over

MarineLink.com
Wednesday, August 07, 2013

An affiliate of Versa Capital Management  has acquired the operating businesses of Hatteras/CABO from Brunswick Corporation.

Hatteras Yachts is recognized as a world leader in the construction of convertible sportfishing and luxury motor yachts. CABO Yachts has enjoyed a well-deserved reputation as one the world’s top builders of sportfishing express boats from 36 to 52 feet. The acquisition is effective immediately. Purchase terms were not disclosed.

“Both Hatteras and CABO are cornerstone American brands in their respective luxury marine markets, and both have been affected during the extended economic downturn,” stated Gregory L. Segall, CEO of Versa Capital. “Working with the company’s seasoned management team, we see great opportunity to build value in these businesses while retaining the expertise in engineering and eastern seaboard production that has given Hatteras/CABO their well-earned reputations as premier yacht and sportfishing vessel builders.”

John Ward, a 24-year marine executive whose experience includes Boston Whaler and Mercury Marine will continue to lead the Hatteras/CABO team as president and chief executive officer. Virtually all Hatteras/CABO employees will be retained.

Based in New Bern, NC, Hatteras began production of its first model in 1959 and pioneered the production of large offshore fiberglass powerboats. They build luxury motor yachts from 60 to 100 feet and sportfishing convertible yachts from 54 to 77 feet.

CABO Yachts has enjoyed a well-deserved reputation as one of the world’s top builders of sportfishing express boats from 36 to 52 feet. For two decades, this premium brand has been defined by its fishability, durability, and performance. The company employs approximately 275 people in New Bern, NC and Ft. Lauderdale, FL.

 


People & Company News

MN100: Guido Perla & Associates, Inc.

The Company: With offices in the US, Brazil, Chile, China and Germany, GPA developed into an independent, full-service naval architecture and marine engineering

Grand Bahama Shipyard Expands Sales Team

Grand Bahama Shipyard Limited (GBSL) has added three regional sales directors to its Marketing and Sales Division, with posts in the Americas, Europe and Asia/Middle East.

MN100: Kohler Marine

The Company: Kohler Marine generators are produced in the United States and distributed globally. Kohler Marine sales as well as aftermarket sales and service activities are globally organized.

Mergers & Acquisitions

Hyundai Merchant Marine to buy Hanjin's 'Good' Assets

South Korea's financial regulator said on Wednesday that Hyundai Merchant Marine Co Ltd will seek to acquire healthy assets of troubled shipper Hanjin Shipping Co Ltd.

Long Beach Port Acquires 125 Acres for Cargo Ops

U.S. Navy, Maritime Administration and California Environmental Protection Agency representatives joined City and Port officials today to commemorate the approval

Japanese Yards Mull Shipbuilding Alliance

Four major Japanese shipbuilders are in discussions to form an alliance in hopes of riding out the industry slump.   Mitsubishi Heavy Industries, Ltd. (MHI) announced

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Salvage Ship Repair Ship Simulators 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: 0.1010 sec (10 req/sec)