The Triton

News

Hargrave seeks ‘money partner’ in 2019

ADVERTISEMENT

Michael Joyce, owner of Fort Lauderdale-based Colonial Yacht Sales, has announced plans to “spin off” Hargrave Custom Yachts into a standalone corporation in 2019.

The Hargrave company, founded in 1957 by designer Jack Hargrave, is owned by the Joyce family trust and, according to a company statement, the trust will retain 50 percent ownership of the new corporation. This is contrary to recent news reports indicating that Hargrave Custom Yachts would be sold, Joyce said in the statement.

“The company is not for sale but will be looking to take in a money partner in 2019,” Joyce stated. “Being a small family-run business was a big advantage for the first 20 years of our history but now is the right time to change our business model. It’s becoming obvious when you look at the nonstop consolidation going on in the boating industry that in today’s world you either go big or go home.”

The newest Hargrave model, the G-120, built for the Galati sales organization, is loaded for shipment Jan. 7 at the Kha Shing yard in Southern Taiwan.

The company has been building yachts under the Hargrave brand since 1987, and will deliver its largest yacht to date with the launch in Turkey this spring of a 184-foot superyacht. According to the company, Hargrave has more than 1,000 feet of new yachts under construction, valued in excess of $100 million.

“The size of our yachts was already increasing in both length and dollar amount, and now with the new alliance with the Galati Yacht Sales organization it’s pushing Hargrave to the next level,” Joyce stated.

Hargrave President Mike DiCondina will continue to direct the company, Joyce said, and the goal is for DiCondina and his team to work alongside a new partner to continue to grow it.

Related Posts...
Tara Dirato has returned to Marina Bay Marina Resort in Read more...
RMK Merrill-Stevens has announced plans to add an electronic systems Read more...
By Dorie Cox From Vancouver, Washington, to Tennessee is a Read more...
Sunseeker International founder Robert Braithwaite died on March 7. He Read more...
MB92 Group’s Henk Dreijer has been promoted to chief business Read more...

Share This Post

Leave a comment

Your email address will not be published. Required fields are marked *

Please answer the question below to leave a comment. * Time limit is exhausted. Please reload CAPTCHA.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Editor’s Picks

Campaign launched to fight hunger in Balearics

Campaign launched to fight hunger in Balearics

Global Yachting Group’s Nick Entwisle has founded a new project called Yachting Gives Back to address the stark disparity between rich …

Odessa crew top in teamwork, agility

Odessa crew top in teamwork, agility

The crew from M/Y Odessa won the final day crew challenge at the third annual Acrew’s Sint Maarten Rendezvous held at Yacht Club Port de …

U.S.-based seaplane picks up yacht passengers in Cuba

U.S.-based seaplane picks up yacht passengers in Cuba

By Dorie Cox Private yacht guests in Cuba were picked up by a seaplane in what Cuban officials call the first seaplane landing in more …

Stew Cues: Table seating, service order dictated by varying factors

Stew Cues: Table seating, service order dictated by varying factors

Stew Cues: by Alene Keenan Some of the most frequently asked questions I get regarding mealtimes are how to seat the guests at the …