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.


Argos 3D Forward Looking Sonar

For 20 Years, FarSounder has been developing and manufacturing 3D forward-looking sonar for vessels of all sizes.

Dometic Marine Appoints Executives

The company promotes a 20-plus-year employee and adds a vice president of aftermarket sales and e-commerce.

IMEA Launches Scholarship Program

The International Marine Electronics Alliance aims to recruit students into the field of marine technology.

RBFF Campaign Reels in Awards

The fishing-and-boating advocacy group’s Get on Board campaign was recognized by two national public relations organizations.

Suzuki’s Clean Ocean Project

Testing of the engine manufacturer’s microplastics filtering device continues as it moves closer to production. The company also released its full-year financials.

Uflex Adds to Sales and Marketing Team

The company said significant growth during the last few years created the need to add three employees.

NMTA Beats Proposal To Double Excise Tax

It’s just one example of the value of belonging to a state or local marine trade association. Are you a member of an MTA?