Post Yachts builder has new owner

Posted on 18 January 2012

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Post Marine Group LLC, a family-owned company, acquired the assets of Post Marine Co. Inc. and will build the full range of Post Yachts at its facility in Chestertown, Md., on the eastern shore of Chesapeake Bay.

Terms of the deal were not disclosed.

“Post Yachts are wonderful boats with a rich heritage of excellence and success dating back to 1957,” Post Marine Group president John Patnovic said in a statement. “The people at Post are extremely well-regarded for their honesty, integrity and the immense pride that they put into the boats they built. When presented with the opportunity to purchase the assets of the company we grabbed it.

“The new Post company will be run with the same values and spirit as the old one,” he added. “We will maintain Post’s proven approach to boatbuilding and continue to build yachts of quality, not quantity.”

Ken Jensen, former president of Post Marine Co. Inc., was retained as a consultant to help ensure a seamless transition to the new company.

Post Marine Group’s facility will be at Worton Creek Marina, an affiliated company owned by Patnovic and his wife, Libby. The marina has been involved in the maintenance, repair and refurbishment of boats since 1949.

These services will be available to existing Post owners through Post Marine Group. In addition, brokerage services will be available through Upper Chesapeake Yacht Sales, which is also an affiliated company.

Comments

9 Saturday, 21 January 2012 04:25

By Bob Stoico

In 2004 I purchased a 2005 50' Post from Black Pearl Yacht Sales, Naples/Marco Island, Florida. Happy to see Post is back in business. My 50' Post is an incredible boat built with exceptional quality and performance ability. Good luck guys....you have a great product!

8 Friday, 20 January 2012 18:45

By Tony Balsamo

We wish John and Libby the best in the re-energized Post! We were the proud dealer who sold the 100th hull of the 50' series. From the team at Black Pearl Yacht Sales, LLC in FL Best wishes!

7 Thursday, 19 January 2012 16:51

By topcat

Hopefully Composites One (CCP) will not be a vendor to the new Post Marine. It is amazing how this vendor who is owned and controlled by the French company TOTAL one of the largest petroleum / chemical suppliers in the world was able to supply Post and other boat builders with defective products and were not held accountable due to a sham warranty. Good luck to Post in the future!

6 Thursday, 19 January 2012 15:25

By Amy

Contact information can be found on the new website: http://postmarinegroup.com/

5 Thursday, 19 January 2012 02:37

By Barry Flanigan

I also share with all of Michael Joyce's comments. An American family company, rich in traditions of quality craftmanship and value is re-birthed. Smooth sailing and sucess to them.

4 Wednesday, 18 January 2012 19:14

By Michael Joyce / Hargrave

Post is one of the true unique builders in our business. They were always easy to understand for both their customers and the brokerage community at large - mid sized, mid priced, warm comfortable interiors, signature styling, and a balanced business model. I remember a time when business was exploding and Post chose to add only modest production increases with the result that their new boats were in short supply and the prices of their used boats strengthened. To do that in a time when most builders were flooding the market took a strong disciplined management team. Hopefully as the new age of boat building begins to emerge Post will enjoy the results of all their past efforts.

3 Wednesday, 18 January 2012 18:59

By Bill Jameson

I, too, am very excited to see that the Post line of yachts will once again sail the high seas... I have always thought of Post as one of the finest yachts available and am pleased to hear that that tradition will continue...

Wishing the new owners the best of luck and the Grace of God...

Bill Jameson, Retired
Bill Jameson Yacht Sales
North Falmouth, Mass...

2 Wednesday, 18 January 2012 17:27

By David

Congratulations to the Patnovic family and the Post family that includes Bill Schell, Ken Jensen and thousands of owners. Post was formed by a man of integrity (Russel) and subsequently bought by employees Charlie Waters and Bill Schell who labored with him as Post operated through its entire life on the same high plane that Russel described as their operating credo.

It is a gain for Maryland and a loss for New Jersey caused by a crippling economy and vendors who supplied defective components without compensation, serving to destroy a fine company despite Bill Schell and Ken Jensens best efforts to save it, including pouring their own time and money into the effort to salvage jobs and a once fine company.


I extend every good wish for the rebirth of Post and hope that as before they follow no one, building honestly valued yachts with integrity.

1 Wednesday, 18 January 2012 16:40

By falcon71

Great news for all the loyal Post owners. Please publish the contact information for the new company.

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