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.

 

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

People & Company News

Fraunhofer Researchers Improve Underwater Images

Videos and images of the submarine world are important for the maritime industry. Researchers from Fraunhofer IGD will show how underwater images can be improved

ClassNK Head Attends KOTC Delivery Ceremony

Noboru Ueda, Chairman and President of ClassNK attended the delivery ceremony for the M/T Al Yarmouk, constructed at Daewoo Shipbuilding & Marine Engineering Co.

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Yachts

STS Young Endeavour Prepares for World Voyage

The Royal Australian Navy operated Sail Training Ship, Young Endeavour, is undergoing maintenance work in preparation for a 12-month world circumnavigation. It

New Superyacht ROCKIT.IT Launched by Feadship

Feadship says it has launched the outstanding 60.35-metre motoryacht ROCK.IT. Created for an experienced owner who has chartered Feadships and appreciated the essence of the brand,

MN 100: Horizon Shipbuilding, Inc.

13980 Shell Belt Road Bayou La Batre, AL 36509 E-mail: trshort@horizonshipbuilding.com Website: www.horizonshipbuilding.com President and General Manager: Travis R.

Mergers & Acquisitions

Norwegian to Buy Prestige Cruises in $3b Deal

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion

Bureau Veritas Diversifies with MatthewsDaniel Acquisition

Bureau Veritas announced today that it has acquired MatthewsDaniel Ltd, a global provider of loss adjusting and risk assessment services for the offshore industry.

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1296 sec (8 req/sec)