Washington state-based Western Marine Electronics, now known as Wesmar, has been sold by company founder and president Bruce Blakey to local businessman Roger Fellows after 52 years.
The sale was effective Nov. 1; terms were not disclosed.
Wesmar said Blakey founded the company in 1965 to develop sonar to help commercial fishermen find fish and developed the world’s first solid-state sonar and the first color radar.
As the size of private yachts grew, the company added the development of bow and stern thrusters and roll-fin stabilizers, answering the need for commercial-grade equipment for yachts to add comfort to cruising and protection in crowded, windy conditions.
Blakey is selling his life’s work to a new innovator he says is poised to take the company and its products to new heights.
The name of the company will remain the same. Headquarters operations will remain in Woodinville, Wash., and employees will stay with the company, Fellows said in a statement.
“Wesmar is impressive,” said Fellows, an experienced executive with a manufacturing, industrial and underwater product background. “It is not every day someone can purchase a company with great potential and a 52-year-old-brand known worldwide. I’ve been looking for a company to purchase for the past year.”
Fellows’ background includes specialized underwater products for the oil and gas industry.
“Wesmar has an established international network of loyal dealers, customers that include private and public, government and municipalities, including sonar, bow thrusters, stabilizers serving a wide range of markets,” he said.