Skip to main content

Trinity Yachts adds private-equity firm partner

Trinity Yachts and TY Offshore have formed the Gulf Coast Shipyard Group, along with new investment partner Littlejohn & Co., a multibillion-dollar Greenwich, Conn.-based private equity firm.

Gulf Coast Shipyard Group will own and operate two major Gulf Coast-based shipyards engaged in the new construction of commercial, military and luxury yachts. The company also will operate International Yacht Collection, a wholly owned yacht brokerage unit.

Management, which has a history of building and operating diversified shipbuilding operations, plans to work with teams to build significant competitive enterprises in their target industries, focusing on growth opportunities on the Gulf Coast, according to a Trinity Yachts statement.

Felix Sabates Jr. will step down as chairman to become an adviser and consultant to the new organization.

“Littlejohn has an impeccable reputation, along with the ability to bring equity, strategy and experience in order to successfully grow and diversify our operations,” Trinity Yachts and TY Offshore president and CEO John Dane said in a statement.

“In addition, I am also happy to announce that we will be starting a long-planned $9 million capital improvement program to the Gulfport, Miss., yard, which will increase our efficiency and annual output. These improvements will also upgrade our Syncrolift to 4,300 tons in anticipation of ice class vessels for Arctic operations. All told, we expect these events will further establish our operations as a premier builder and major employer.”

Click here for the full release.



MIASF Holds Annual Meeting

The South Florida trade organization announced new and reelected members, handed out awards, and arranged presentations by business leaders.


Gas Reaches Record $4.59 Per Gallon Average

With Memorial Day weekend approaching, the summer driving and boating seasons will contribute to continued demand for gasoline.


Power Lodge Acquires Miller Marine

The deal gives marine and powersports dealer Power Lodge four locations in Minnesota and one in Florida.


Boating Shares Suffer in Market Selloff

Major U.S. stock indices weakened yesterday, and recreational marine shares fared even worse on a percentage basis.


Scania Appoints President of U.S. Operations

Company veteran Jorg Franzke replaces Håkan Sterner, who is returning to Sweden.


Promote Safe Boating Week; a Fishing Icon Passes

The May 21-27 observance takes on heightened importance with the thousands of newcomers to boating. Meanwhile, bass fishing lost a legend with the death of Ray Scott.


Azimut-Benetti Booked $2.1B in 2021 Backlog

The builder said new models and a “diversified product portfolio” drove sales growth to record levels.