American sister boatbuilders Catalina Yachts and True North Yachts have been acquired by Michael Reardon, founder and CEO of Daedalus Yachts.
The acquisition is said to mark an ‘exciting new chapter for two iconic American boat brands’.
“Michael shares our passion for craftsmanship, innovation, and legacy,” said Catalina Yachts in a statement.
“We’re confident the future is bright under his leadership, with operations continuing in Largo, FL, and a renewed commitment to quality and growth.”
Michael launched Daedalus Yachts to focus on building sustainable, performance-driven sailing craft.
Catalina Yachts was founded in 1969, and over the decades has built hundreds of thousands of boats.
“For over 50 years, Catalina has stood for accessible, well-built boats that deliver real sailing pleasure,” said Patrick Turner, Catalina’s longtime president.
“Michael Reardon shares those values, and we’re confident he’ll carry them forward while positioning the brand for the future.”
Frank believed in building boats that brought families together and gave people joy on the water.
Jean Butler
Both companies are set to continue operations from their current base in Largo, Florida, with the existing workforce and dealer network to be retained.
Investment in new model development across both lines is planned.
“We’re not just preserving the legacy, we’re building upon it,” said Michael.
“Catalina and True North are iconic American brands. I’m honoured to lead them into the next era of growth and innovation.”
Jean Butler, wife of late Catalina founder Frank Butler, said she was happy with the latest development.
Sailboat manufacturer
“Frank believed in building boats that brought families together and gave people joy on the water,” she said.
“I believe Michael Reardon understands that spirit. Frank would be proud to see Catalina and True North in the hands of someone who values the people, the product, and the passion that built this company.”
Catalina Yachts is one of the largest sailboat manufacturers in the US, focusing on building high-quality boats.
True North Yachts was bought by Catalina in 2019. The acquisition expanded Catalina’s reach into the powerboat market.
