Safe Harbor acquires Newport Shipyard

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Safe Harbor Marinas acquired Newport Shipyard in Newport, R.I. Financial terms were not disclosed.

The acquisition gives Safe Harbor 85 facilities across 19 states. The company said in a statement that the addition of Newport Shipyard is part of its “ongoing strategic expansion and diversification of its holdings.”

"We're so pleased to add Newport Shipyard to our portfolio," said Jason Hogg, senior vice president of investments for Safe Harbor Marinas, in the statement. "This place has an incredible history and importance in the world of sailing and cruising. The Dana family and their team have built a brand that is recognized across the globe. We are excited to continue and build on their grand tradition of excellence."

The company said the yard regularly accommodates boats larger than 200 feet and occasionally as long as 300 feet. The superyacht repair and refit facility has hauling capabilities to 500 tons. The marina includes Belle's Café and hosts events.

Eli Dana will remain in his role as general manager.