Cape Cod boatyard has a new owner - Trade Only Today

Cape Cod boatyard has a new owner

Author:
Publish date:

A long-standing boatyard in East Falmouth, Mass., is under new ownership.

Edwards Boatyard, owned and operated by Edward Swain since 1979, was sold to Bosun's Marine, which is owned by Tim Leedham, for $1.72 million, according to a deed on file with the Barnstable County Registry of Deeds, the Cape Cod Times reported.

Swain said his family owned the business since 1951.

“I'm long overdue,” Swain, 75, told the newspaper. "My (three) kids didn't want it. I wanted a good outfit to look after the employees and the customers. [Leedham] has a very good reputation.”

The business has 48 boat slips and does service and inspection on more than 400 town moorings, Leedham said. It also has a sales and service shop for powerboats and sailboats.

Leedham said eight of the 10 staff members from Edwards Marine were retained and he expects to expand to 12 full-time staff members at the boatyard. During the summer the number of employees should reach about 20, he said.

Click here for the full article.

Related

An eBay for yachts?

While there’s no “buy it now” button, organizers of BoathouseAuctions.com say the website provides a new sales channel for brokers.