Skip to main content

TPG Adds to Marine Portfolio

1_TPG-Conanicut_1

TPG Hotels, Resorts and Marinas said it acquired Conanicut Marina and Taylor Point Boat Yard, both of which are in Jamestown, R.I.

“Conanicut Marina and Taylor Point Boatyard are tremendous additions to our growing marina portfolio and are prime examples of the types of properties we seek to acquire,” chief investment officer Robert Leven said in a statement. “[TPG] now has a presence on Jamestown’s east and west passages with a world-class marine services facility.”

2-TPG

TPG purchased both properties from Bill Munger, who has owned and operated the businesses for nearly half a century.

“It’s been time to hand the torch off to someone else, but selling to somebody that would still be a component of the community was equally important,” Munger said. “It’s taken awhile to boil that all down. The chemistry had to be good, and this company is primarily in the hospitality business.”

3_TPG-conanicut_2

During the last 18 months, TPG has acquired several marinas in the Northeast, including Dutch Harbor Boat Yard in Jamestown; Champlin’s Marina and Resort on Block Island; Danford’s Resort, Marina and Spa in Port Jefferson, N.Y.; and Mill Wharf Marina and Scituate Harbor Marina in Scituate, Mass.

Related

Employees Assume Ownership of Imtra Business

Creating an employee stock ownership plan (ESOP), the New Bedford, Mass.-based company has sold ownership rights to its employees.

Raymarine Cyclone Radars Win Good Design Award

The company’s next-generation, open-array radar design won the 2021 global design award in the “research and technology” category.

Brunswick Announces Winners of Sustainability Awards

The new program recognizes excellence in sustainable, responsible practices among Brunswick employees and teams.

Eager Anticipation

The industry awaits the debut of the integrated Discover Boating Miami International Boat Show

Multihull Mover

With two new 28-foot models, Aquila continues to maximize the presence of power catamarans in the broader marketplace

A New Space Jam

Boaters want bigger, more powerful multifunction displays, and designers are innovating to meet the demand

Nothing but Net

The SeaPen portable dry dock makes storage easier for the increasing number of outboard-powered boats

Upgrading a Marina Management System

Technology can help streamline marina operations, increase revenue and optimize the guest experience

High-Tech Vision

The latest advancements in low-light cameras make it safer to navigate when visibility wanes