Startup will produce high-performance boats

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Two boating industry veterans - Giovanni Theodeli and Scott Smith - have started a new venture producing high-quality, hand-laminated, high-performance boats.

Known as GTMM, or Giovanni Theodoli Marine Manufacturing, the company is based in Sebring, Fla., with Theodeli serving as the controlling partner.

"Our mission is to bring back the high-quality, hand-laminated, high-performance boat," according to a company statement. "We strive to differentiate ourselves from other companies with multiple brands that have diluted the design and construction process. These boats are housed and produced under one roof in cookie-cutter fashion. GTMM's focus is not on numbers, but rather quality and attention to detail."

The company will build a newly designed GTMM 27 from a Magnum 27; a GTMM 39 from Dragon Powerboats; and a GTMM 38 as a cut-down, redesigned version of a Magnum 44, according to Smith.

Theodoli grew up at his family's boat company Magnum Marine. From 2000- 2010, he oversaw quality control, customer relations and sales and aided in the production of new models.

After building bigger yachts for several years, Theodoli's interests turned to updating and relaunching the original debut model, the Magnum 27. Early last year he purchased and restored a classic Magnum 16 Missile and a Magnum 16 Marauder, and he plans to restore a rare Magnum 25.

Smith won world championships in offshore powerboat racing in 1982 and 1998. He has trained boat owners, U.S. Customs officials and more than 100 Navy personnel.

Smith was vice president of sales and marketing for Cigarette Racing Team from 1985-1999. He was recruited by Magnum Marine in 1999 to manage the company's production team for the creation of the 44- and 50-foot models.

Smith is vice president of GTMM and a partner in the company.