Grand Banks Yachts Ltd. is buying Australian boatbuilder Palm Beach Motor Yacht Co. for $10 million Australian, which is $9.4 million in U.S dollars.
Grand Banks Yachts was launched in 1956 as American Marine Ltd. by founder Robert Newton in Junk Bay, Hong Kong. The company builds yachts from 43 to 76 feet. Grand Banks is publicly traded in Singapore and its U.S. headquarters is in Seattle.
Grand Banks Yachts has appointed NW Explorations as a Grand Banks authorized service center, as well as its first authorized purchase-for-charter company in the world. Grand Banks said Bellingham, Wash.-based NWE offers a marine service department composed of highly skilled technicians, including several who are certified by the American Boat and Yacht Council. NWE is…more
Grand Banks Yachts appointed Stan Miller Yachts as a new dealer for the region covering Washington, Oregon, Alaska, Wyoming, Utah and Idaho.
FORT LAUDERDALE — Grand Banks Yachts offered $10 million in stock to its shareholders to fund new product development, acquisitions, training and equipment, company officials Tucker West and Bruce Livingston Jr. said Wednesday at the Fort Lauderdale International Boat Show. West, Grand Banks’ North American sales manager, and Livingston, the company’s production director, noted the…more
Grand Banks Northwest hired David Bagley as a yacht broker at the Grand Banks Northwest office at Salmon Bay Marine Center in Seattle. Bagley, the son of well-known Pacific Northwest yacht broker Curt Bagley, joins the current team of Tucker West, Harry Walp and Leslie Simmo. His prior experience with selling and representing boats comes…more
The Singapore Yacht Show, held April 18-21, didn’t experience any lags in participation despite being scheduled concurrently with Boat Asia for the first time. In fact, the Singapore show more than doubled exhibitor numbers, according to the Singapore Yacht Show website. “Initial reports indicate visitor numbers have more than doubled since last year’s show, and…more
Grand Banks Yachts announced that it is on track to complete five luxury yachts for buyers from Singapore, Japan and Micronesia in the financial year that ends June 30. This marks the highest sales to the region since the 2008-09 global financial crisis and comes amid growing interest in boating among Asians, according to BMY…more
In the most recent move signaling shifting times at Grand Banks Yachts, CEO Robert William Livingston II has decided not to renew his contract, effective this week. Chief financial officer and board member Peter Poli will serve as interim CEO until a replacement is found, the company reported. Livingston took the helm in May 2009,…more
The Grand Banks Yachts board of directors beat back a challenge by dissident shareholders to replace all four incumbent directors in a so-called “extraordinary general meeting” Oct. 10 under the rules of the Singapore Stock Exchange, where the boatbuilder is listed. An average 68 percent of voting shareholders cast ballots to retain the current board,…more
VesselVanguard and Grand Banks Yachts announced a new program designed to simplify boat ownership for Grand Banks customers. VesselVanguard is a Web-based subscription service that organizes manuals, maintenance schedules and warranties for on-board equipment systems to create a digital boat profile. With each new yacht it delivers, Grand Banks will provide the owner a free…more