Dallas-based Safe Harbor Marinas has acquired Rybovich, shipyard and marina company with two locations in Palm Beach County in South Florida. Safe Harbor also operates Old Port Cove in North Palm Beach.
According to a press release distributed this morning, Rybovich employees will remain with the company, and Rybovich executive Carlos Vidueira “will oversee Safe Harbor’s superyacht marinas.”
“Our commitment to our community, our team members and their families, and to the yacht owners, their captains and crews has never been stronger,” Vidueira said in a statement. “We’ve been searching for the right way to serve them all from a larger platform and we’ve found it.”
“Our plan is to serve Rybovich with excellence so they, in turn, can do what they do so well at more locations throughout the country and perhaps the world,” said Baxter Underwood, CEO of Safe Harbor. “We are humbled and honored to be on their team.”
Safe Harbor owns and operates over 100 marinas in 22 U.S. states. Rybovich has two superyacht marina and service centers in Palm Beach County, Florida.
In late October, Safe Harbor merged with Michigan-based Sun Communities (NYSE:SUI), a real estate investment trust that owns and operates more than 425 properties in North America, in a transaction reported to be valued at over $2 billion. Those properties are mostly manufactured home communities and RV parks. SUI closed trading yesterday at $146.13 a share.