23 November 2014
SuperyachtNews.com News brought to you by Master Yachts
21 Nov 2012

Knight and Carver hopeful of company buyout

By | Other articles by this author

Knight and Carver, the San Diego-based refit and repair shipyard that filed for Chapter 11 bankruptcy in the Spring, could be close to securing the investment it requires as part of the Chapter 11 terms.

Speaking to SuperyachtNews.com Knight and Carver’s Giovanni Lococo remained tight-lipped about developments but he did acknowledge that progress had been made and that “ongoing negotiations” had allowed the yard to continue with its operations.

“We’re running a positive cash sheet and we have interested parties…we have a number of projects scheduled for the winter but none of these are superyachts at this time.”

One of the rumoured parties is New York-based ship repair company Amertech Industries. SuperyachtNews.com spoke to Amertech’s Steve Dileo, who confirmed that the company had lodged a bid:

“We’re making a bid for it but we don’t know whether we’ll be successful. There will definitely be [an outcome] before the end of the calendar year.

“We’re a shipyard operator and we’ve owned and operated shipyards down the east coast that deal with naval and commercial vessels. [Superyacht refit] is not of primary interest to us but it is of interest; we view it as 40 per cent of what the total [Knight and Carver] business is worth.”

Dileo also added that the West Coast offered an attractive new proposition for Amertech’s portfolio.


In Summer 2010 Knight and Carver acquired a 400 ton dry dock.

Related Links

Knight and Carver Website

Amertech Industries Website

Comments

Add a comment

1800 character limit

Having problems? Let us know editor@superyachtnews.com

Other Business News

Future satcoms may come bundled from shipyards

Revelations and predictions from and for the superyacht satcoms market leads to a sale for e3 Systems at METS 2014 More

Room for manoeuvre

In light of continuing concerns raised among the industry at the recent Global Superyacht Forum about its failure to adequately respond to the imposition of MLC 2006, Pensum's Peter Gibbs speaks exclusively to SuperyachtNews.com about what can still be do More

Amico & Co unveil new dry dock

Italian refit yard, Amico & Co, inaugurates its new 102m covered dry dock as part of ongoing investment in the company's infrastructure. More

FYBA initiative hopes to bring boats to America

The Florida Yacht Brokers Association is in the process of requesting legislative support to remove current restrictions that forbid offering used foreign flagged boats for sale to U.S. residents while in U.S. waters. SuperyachtNews.com speaks exclusi More

business News Archive

Superyacht Intelligence Data

Most Recent Comments

  1. The MarNavProgram ready to launch More
  2. East Africa’s first ‘five star’ marina to open in December More
  3. Quantum Marine Engineering to join training arena in 2015 More
  4. Young Professionals in Yachting grows presence in Europe More
  5. Insufficient chart data triggers industry response More
SuperyachtNews app available now. Click here to download.
Tailor a subscription package to suit your needs
Latest issue
Latest issue

E-Newsletter

Get regular updates from SuperyachtNews with our weekly Email Newsletter.

Submit

SuperyachtIndex.com

Latest Premium Listings

Global Superyacht Forum

Global Superyacht Forum

Faststream Recruitment

Faststream Recruitment

Camper & Nicholsons Marinas Ltd

Camper & Nicholsons Marinas Ltd

Rolling Stock

Rolling Stock

SuperyachtDESIGN Week

SuperyachtDESIGN Week

Peters & May Ltd

Peters & May Ltd

Soundown Corporation

Soundown Corporation

Directory. Add your logo here with a premium listing.
 
 
 
 
 
 
 
 
 
 

Featured Listings

Shore Power Convertors

ASEA POWER SYSTEMS
ASEA POWER SYSTEMS is the Marine Industry Leader for Shore Power Conversion equipment ranging in power from 8kVA - 1000kVa.
www.aseapower.com

Rigging

Reckmann Yacht Equipment GmbH
Reckmann Yacht Equipment GmbH is a specialist company for reefing systems, masts and hydraulics and will celebrate the 120th anniversary in 2012. Today, the company is one of the leading producers and traders of headsail reefing equipment and is a synonym for quality, continuity and innovation.
www.reckmann.com

Interior Fittings, Water Treatment & Watermakers

Evac Oy
Evac designs, manufactures and markets environmentally friendly vacuum toilet and wastewater treatment systems for the yacht and shipbuilding industry. With the latest advanced technical innovations we provide quality, reliability and design.
www.evac.com

Consultants, Project Management

Marine Management
We specialize in quality project mgmt and consultancy services to the Superyacht industry. Our extensive commercial experience ensures qualified over-sight of your vessels refit, build or upgrade. We attend vessels worldwide, providing owners onsite technical representation, and supervision of projects with no margin added on contracted services.
www.mml.org.nz

Add your company listing here

Add a featured listing here and your advert will appear on every page of SuperyachtNews.com, SuperyachtIntelligence.com, SuperyachtIndex.com, TheCrewReport.com and SuperyachtJobs.com.

Add my company listing