Post Marine Group LLC, a family-owned company, acquired the assets of Post Marine Co. Inc. and will build the full range of Post Yachts at its facility in Chestertown, Md., on the eastern shore of Chesapeake Bay.
Terms of the deal were not disclosed.
“Post Yachts are wonderful boats with a rich heritage of excellence and success dating back to 1957,” Post Marine Group president John Patnovic said in a statement. “The people at Post are extremely well-regarded for their honesty, integrity and the immense pride that they put into the boats they built. When presented with the opportunity to purchase the assets of the company we grabbed it.
“The new Post company will be run with the same values and spirit as the old one,” he added. “We will maintain Post’s proven approach to boatbuilding and continue to build yachts of quality, not quantity.”
Ken Jensen, former president of Post Marine Co. Inc., was retained as a consultant to help ensure a seamless transition to the new company.
Post Marine Group’s facility will be at Worton Creek Marina, an affiliated company owned by Patnovic and his wife, Libby. The marina has been involved in the maintenance, repair and refurbishment of boats since 1949.
These services will be available to existing Post owners through Post Marine Group. In addition, brokerage services will be available through Upper Chesapeake Yacht Sales, which is also an affiliated company.