US superyacht builder Trinity Yachts is for sale for $30 million
by Risa Merl
US superyacht builder Trinity Yachts’ yard in New Orleans, Louisiana is for sale, along with the Trinity Yachts name, branding and all of its designs and engineering.
Trinity Yachts is being offered for sale for approximately $30 million. The price includes Trinity’s 48 acre yard in New Orleans, a partially built 51 metre yacht and more than 20 engineered designs. According to Trinity Yachts COO Billy Smith, the exact price will fluctuate depending on what prospective buyers purchase – the entire shipyard, name, uncompleted yacht, designs or everything. Atlanta, Georgia-based group Mensura Capital is in charge of the transaction of the sale.
The sale of the yard and its intellectual property comes after news this June that superyacht builder Trinity Yachts was acquired by Harvey Gulf International. Harvey Gulf’s foremost interest in acquiring Trinity was for its commercial LNG shipbuilding capabilities. The Trinity yard in Gulfport, Mississippi will remain open, building commercial vessels.
Billy Smith notes that Harvey Gulf’s decision to sell the New Orleans yard is because the transportation company doesn’t see superyacht building as being its core business. By selling the yard, they hope to see a new owner keep the shipyard and Trinity Yachts brand going.
Smith says it’s not a distressed sale and that Harvey won’t sell unless they get a good price. The New Orleans yard will continue to build and repair yachts until that time.
The partially built Trinity Yachts’ hull T-062 is a tri-deck motor yacht due to deliver in early 2016. There are two other delayed projects at Trinity’s New Orleans yard, 51 metre hull T-052, pictured above, and a third 50 metre yacht.
Interested parties in the new yard could be European facilities that can expand their reach to the US, either in refits and service or new builds.
Trinity’s New Orleans yard currently employs 100 workers, which could be ramped up if a group of investors purchased the yard and wanted to get back into new build construction.