June 17, 2011
Marlow Yachts, based on Tampa Bay in Southwest Florida, has bought Merrill-Stevens in Miami.
In a deal finalized this week, Marlow Merrill Steven intends to resurrect the yard’s history of working on commercial and government vessels as well as yachts.
Both the north and south yard facilities have been bought in their entirety, according to a news release issued today from Marlow Yachts.
Marlow paid $6.6 million for the deal, a price that is about a quarter less than the mortgage the bank holds, according to a story in the South Florida Business Journal.
The shipyard can haul vessels up to 500 tons with a Synchro‐Lift or railway. The machine shop and other support facilities will be “upgraded, maintained, certified and refurbished to world class standards,” according to the release.
“When completed the yard will appear park like, kept spotlessly clean like all Marlow facilities and offer the most complete array of services in the marine industry from new builds of virtually any size to complete rehabilitation of fine yachts,” the statement said.
Merrill Stevens began operations in 1885 in Jacksonville and moved to Miami in 1923. It laid off most of its employees and ceased operations just before Christmas 2009.
A few months later, former yard manager John Spencer opened Spencer Boat Company on the south yard. Details were still being worked out today as to his role in the future Marlow Merrill Stevens.
“Merrill Stevens has played an important role in the development and maintenance of America’s yachting and commercial vessel scene,” David Marlow, chairman of Marlow Yachts, said in the statement. “It is Marlow’s firm plan to restore that dignity and proud heritage to its proper place as perhaps the most iconic yard in our nation.”
Marlow Yachts builds several styles of boats, including 15-foot dinghys and 35-foot launches to motoryachts from 53-86 feet. It’s newest line, introduced at the Miami show in February, is a 97-foot motoryacht.
Until now, the motoryachts have been built in China. It was not immediately clear if Marlow would build new yachts in Miami.
To read the full press release, click here.
To read the South Florida Business Journal story, click here.
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