Maine-based Hodgdon Yachts and Boothbay Region Boatyard have signed a letter of intent to merge the yards in Southport and Wotton’s Wharf in Boothbay Harbor with Hodgdon Yachts. The merger is expected to become final this spring.
“Combining Boothbay Region Boatyard’s outstanding facilities in Southport and Wotton’s Wharf in Boothbay Harbor with our facilities in East Boothbay, Richmond and Damariscotta will create one of Maine’s largest, full service marine companies,” Hodgdon Yachts President Timothy Hodgdon said. “We look forward to continuing to serve Boothbay Region Boatyard’s existing customers while aggressively pursuing opportunities to grow the combined business.”
The boatyards will continue to provide maintenance and repair service to vessels up to 80 feet. The joint company expects to add about 30 employees, bringing Hodgdons total employment to about 150 people in the Boothbay region.
Sandy Spaulding, Hodgdon Yachts’ senior business adviser, will serve as interim general manager of Boothbay Region Boatyard as Hodgdon conducts a national search to permanently fill the position.
Wotton’s Wharf offers transient deep-water dockage for yachts up to 200 feet. Located on the west side of Boothbay Harbor, it is the home base to the annual Shipyard Cup, a Hodgdon-founded and -hosted superyacht regatta each summer.
This merger is part of an ongoing effort by Hodgdon to diversify the fifth generation-run company, which started in 1816 during the era of clipper ships and is America’s oldest boat builder. Over the past 12 years, Hodgdon has grown from its roots as a custom builder of power and sail yachts up to 60m to also build superyacht tenders and interiors using advanced composites design and construction.
For more information, visit www.hodgdonyachts.com.