A Texas investor who was formerly a Cummins engine distributor purchased Intrepid Powerboats of Largo, Fla., vowing to maintain the builder’s high level of customer service while bringing capital to step up innovation and new-model production.
Intrepid Powerboats, founded in 1983, is based in Florida and builds highly customized production center consoles, cuddy cabins, walkarounds and sport yachts. The factory-direct builder has carved a niche in the high end of the market, boasting a $29 million backlog at the height of the recession.
Intrepid Powerboats will display one of its 32-foot center consoles with a new natural gas/gasoline hybrid propulsion system at the Fort Lauderdale International Boat Show.
Intrepid Powerboats has changed hands several times in the last 30 years, but there have been some constants. One of those is Ken Clinton, who spent 23 years working his way up from the line to president of the company, which has a year-long, $43 million backlog.