Hargrave Custom Yachts: a course for finding a partner-investor

Recently appeared information about the fact that based in the resort town of Fort Lauderdale (Florida, USA) Colonial Yacht Sales intends to sell belonging to it Hargrave Custom Yachts in the first half of 2019, was not confirmed. Instead, according to updated information, the owner of Colonial Michael Joyce (Michael Joyce), which also is a part-time CEO of Hargrave and the Hargrave President Michael Dicondina (Michael DiCondina) will seek a new investor for the brand promotion Hargrave and his output to a new level.

partner-investor to work with the President of Hargrave Custom Yachts in the future to turn it into a separate company. Family Fund Joyce remains the holder of a 50% stake.

“When you look at the brokerage market, we see that Michael Dicondina and his team never ceased to put new boats even during a decade of recession, and in his hands now the company is ready to show the world the next wave of new models that will begin to appear on the market within the next 18 months. Including the largest Hargrave built to date — with a length of 184 feet. Michael Dicondina will do this another 30 years, and it is clear that he needs to find the right person or the right company from the point of view of conformity to his vision of the future. I can’t wait to see where this company ten years,” says Michael Joyce.

Although the origin of the Hargrave brand goes back to 1957 when it was founded by designer Jack Hargrave (Jack Hargrave), actually, the Hargrave Custom Yachts appeared in 1997 — a year after the death of the Hargrave — thanks Joyce.

Joyce worked at Hargrave during the period 1977-1981., then went to just establish a brokerage house Colonial Yacht Sales. Joyce was firmly convinced that the legacy of Hargrave could escalate into a boat brand, so I purchased the rights to the design Bureau from his widow.

“Thanks to all those developments, projects, and verified test data that we already had on hand, we were literally in a matter of hours was able to start a new project,” explains Michael Joyce.

In addition, Joyce attributes the success of the brand Gong family, owners of Kha Shing Enterprises. While other shipyards are also involved in the construction of boats Hargrave, that the Taiwanese Kha Shing was and remains the main production site.

Since the founding of Hargrave Custom Yachts was born a number of custom motor yachts such as the 101 Hargrave, Hargrave 116 Renaissance and DREAmer, but the brand has become widely known in the yachting world. Within the Fort Lauderdale Boat Show — 2018 (FLIBS 2018) management of Hargrave Custom Yachts has announced that the order book filled with projects to total more than $100 million.

Michael Joyce says, when Hargrave Custom Yachts has entered the top 20 yacht builders in the world in number of orders, he finally realized — it’s time for a change.

According to him, most of the other shipyards owned by wealthy people or large corporations, and encourages their growth.

“Looking at the competitors, I realized that my personal passion to ensure that the company remained a small family business, in fact, holding back all in Hargrave,” admits Joyce.

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