Safe Harbor Marinas acquires Savannah Yacht Center
The Georgia-based facility becomes the latest in a series of major acquisitions of refit yards and marinas across the US market …
Safe Harbor Marinas has acquired the Savannah Yacht Center, in a transaction where consideration took the form of securities in Safe Harbor's parent company, Sun Communities Inc. The topic of US acquisitions was explored in detail in The Superyacht Refit Report.
"This is an outstanding addition to our network. The world's largest vessels have historically been forced to cross the Atlantic for certain services. This facility allows us to serve them with excellence here in the United States and inside the Safe Harbor network," said Baxter Underwood, CEO of Safe Harbor Marinas.
The Savannah Yacht Center can accommodate large yachts in its 140-meter graving dock, a 3,240-ton ship lift, and 366 meters of floating docks. Savanah remains one of the only facilities in the region that can accommodate multiple 60m plus yachts simultaneously.
"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 facility is expected to remain in operation seamlessly as ownership changes hands and its 50 employees become part of the Safe Harbor Marinas team.
"We are incredibly proud of the team at Savannah Yacht Center and their many accomplishments," said Christian Demere, President and CEO of 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."
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