Safe Harbor acquires US superyacht repair yard
Marina operator Safe Harbor Marinas has acquired the Savannah Yacht Center, a superyacht storage, repair and refit facility on the US east coast.
The transaction saw consideration take the form of securities in Safe Harbor’s parent company, Sun Communities Inc.
“This is an outstanding addition to our network. The world’s largest vessels have historically been forced to cross the Atlantic for certain services,” says Baxter Underwood, CEO of Safe Harbor Marinas. “This facility allows us to serve them with excellence here in the United States and inside the Safe Harbor network,”
The Savannah Yacht Center includes a 140-metre graving dock, a 3,240-ton shiplift, and 366 metres of floating docks that can simultaneously accommodate 8, 80-metre superyachts.
“We’re always searching for better ways to serve the superyacht builders, OEMs, owners, captains and crews,” said Tim Sargent, EVP of international operations at Safe Harbor Marinas. “Savannah allows us to do exactly that.”
The modern yacht facility is expected to remain in operation as ownership changes hands, and its 50 employees will now work for Safe Harbor Marinas.
“We are incredibly proud of the team at Savannah Yacht Center and their many accomplishments,” says Christian Demere, president and CEO of the shipyard’s former parent company Colonial Group, Inc. “While it was a great experience building this business, I did not believe we were best positioned to allow it to reach its full potential. I am confident that it will reach new heights as part of Safe Harbor Marinas.”
