On Monday, July 21, the Marine Travelift family of companies, international leaders in the production and sales of marine and industrial lifting products, was purchased by Jim Ashton and Stephan Pfeifer. Though the business has changed hands, the owners desire to keep Marine Travelift in Sturgeon Bay. Pfeifer plans to establish residency in Sturgeon Bay and will be the president and CEO of the business. Ashton will reside in Dallas and visit Marine Travelift on a monthly basis. He will be the chairman of the business and will monitor its strategic and long-term growth. The previous owners, brothers Gerald and Allan Lamer, searched for prospective owners that had qualitative requirements in addition to quantitative requirements to continue to grow their business.