New Majority Investors At Doug Wright Designs
No story this year has taken more twists and turns than acquisition efforts directed at Melbourne, Fla.-based catamaran builder Doug Wright Designs. Most recently, the company walked away from a purchase deal with Cigarette Racing Team. And now, thanks to performance-boat enthusiast Jr. Adan and his friends J Carro and Romy Robau, there’s a new chapter in the story.
The partnership trio has acquired 60 percent of the company.
Doug Wright Designs supplies the hulls for Missouri-based Performance Boat Center’s Wright Performance catamaran line, and that will continue under the Florida company’s new majority stakeholders. Photo courtesy/copyright Performance Boat Center.
“Doug Wright is the perfect fit for us,” said Adan, whose is retired from the day-to-day operations of his Atlanta-based sod business and lives in the Upper Florida Keys. “They are awesome guys, and they’re boaters just like us.”
Doug Wright, Jr., who runs the company with his father, could not be reached for comment when this story went live.
Adan, who currently owns 32- and 36-foot Doug Wright cat, has a 38-footer in the works. Though he’s hoping to have it finished in time to bring to showcase during the American Power Boat Association Offshore National Championship Series May 19-22 season-opener in Cocoa Beach, Fla., that’s far from his top priority.
“We have a lot of work to do at Doug Wright,” said Adan, whose first post-acquisition move was to supply much-needed labor to the company. “I don’t want to put the cart before the horse and talk about the things we plan to do. We have to get all of our ‘ducks in a row’ before that.”
Look for updates to this story on speedonthewater.com as they become available.
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