Grand Banks buys marina in Stuart, Fla.

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Stuart Yacht Basin will serve as Grand Banks’ U.S. headquarters.

Stuart Yacht Basin will serve as Grand Banks’ U.S. headquarters.

Grand Banks Yachts has purchased Stuart Yacht Basin in Stuart, Fla., and the marina and service facility will be the home of Grand Banks, Palm Beach and Eastbay yachts.

The 12,000 square-foot facility will be known as Stuart Yacht Basin, home of Grand Banks, Palm Beach and East Bay yachts. It will provide covered storage, full service, a 50-ton Travelift and dock space. The yard will serve as the company’s U.S. headquarters and will be managed by Hank Compton, COO of Grand Banks America. He has been with the company for 14 years, managing operations at the Grand Banks factory. Compton also managed sales and development in Australia and the Asia Pacific region.

“The acquisition of Stuart Yacht continues to follow our customer-first philosophy that began with our factory direct sales model,” said Compton in a statement. “We’ll organize new boat commissioning out of the yard for our new Grand Banks, Palm Beach and Eastbays, while also offering a complete array of yacht services for all of our owners and for all yachts.”

Greg and Nancy Burdick have operated Stuart Yacht Basin since 1974, which also housed a boatbuilding operation during one period. Grand Banks will continue an association with the Burdicks and the yard’s current staff. “We looked at several possible properties,” said Mark Richards, Grand Banks CEO and founder of Palm Beach Motor Yachts. “However, after developing so much respect for the business Gregg and Nancy built, we knew this was the right decision. The yard is surrounded by beautiful scenery, and it’s out of the congestion of other parts of South Florida. This creates a very natural fit for our culture and goals.”

In addition to offering commissioning and maintenance services, the company will utilize the facility to showcase new product, and host private events. On March 16, more than 50 people attended the company’s first annual Yacht Hop where two new Grand Banks 60s were showcased with an Eastbay 44, Palm Beach 55s, Palm Beach 50 and pre-owned boats.