FORT LAUDERDALE, January 02, 2019 – Bradford Marine, a prominent megayacht repair facility, marina, and yacht brokerage with locations in Fort Lauderdale, Florida and Freeport, Grand Bahama, announced that it has agreed to terms to be acquired by Fort Lauderdale Yacht Harbor, LLC (“FLYH”) for an undisclosed price. The acquisition of all assets of the Fort Lauderdale property closed on January 1, 2019, while the acquisition of Bradford Marine Bahamas is pending customary governmental approval from The Bahamas. Both properties will continue operations as normal and will retain the “Bradford Marine” and “Bradford Marine Bahamas” names under FLYH ownership. Julie Fisher Berry, Principal of Marina Investments Group, Stiles Realty, brokered the transaction.
“We are excited to have the opportunity to own and operate Bradford Marine. As one of the foremost megayacht repair facilities/marinas in South Florida and The Bahamas, Bradford Marine has a tremendous history built by its world-class team of employees,” said John Kelly, Chief Executive Officer of FLYH. “Paul Engle will continue as President of Bradford Marine and manage the daily operations, and Tom Thomas will remain in his role as Chief Financial Officer. Both Paul and Tom are well-respected in the marine industry and are great assets for both of the Bradford Marine facilities.”
“Just as the yachting industry has evolved, so too will Bradford Marine continue to cater to the needs of the next generation of yacht owners, captains, and crew,” said Michael Kelly, Chief Operating Officer of FLYH. “We look forward to being an integral part of the Fort Lauderdale community to maintain and grow Broward County’s $8.8 billion economic impact from the marine industry.”
Paul Engle, President of Bradford Marine, commented, “I am very pleased with the new ownership. John and Michael are highly knowledgeable and informed as to the needs of yacht owners, captains, and crew given their long-time passion for yachting. They have plans for substantial enhancements that will be greatly welcomed by our customers. Continuing as a family-owned and operated business makes FLYH the perfect fit to acquire Bradford Marine, and to position us as the premier yacht facilities in South Florida and The Bahamas.”
Julie Fisher Berry, Principal of Marina Investments Group, Stiles Realty, noted, “Having worked closely with John and Michael Kelly, their keen vision for the future of Bradford Marine reflects their depth of knowledge. They understand the trends in the marine industry and what is needed to service megayacht owners, captains, and crew as the industry evolves to the next generation of yachting. They will be a great asset to Fort Lauderdale and the marine industry as a whole.”
Financing for the transaction was provided by BankUnited.
About Bradford Marine
Bradford Marine was founded in 1966 on the New River in the heart of the yachting capital of the world, Fort Lauderdale, FL by Dieter Cosman and Charles Blickle, Sr. who shared a vision for this premier yachting facility. This megayacht repair facility, marina, and yacht brokerage operation, with a capacity to haul up to 250 tons, has over 11,000 linear feet of covered, in-water dockage making it one of the largest undercover yacht facilities in the world for yachts up to 180’. Located just 60 miles off the coast of Florida, Bradford Marine Bahamas was founded in 1997 on 47 acres of land in Freeport, Grand Bahama in the heart of Freeport harbor. With over 25’ of draft, a 1,200 ton drydock, 150 ton Marine Travelift, and access to a 27,000 ton drydock, Bradford Marine Bahamas has the capability to service the world’s largest superyachts up to 500’ with the top-notch quality, innovation, and attention to detail that Bradford Marine is known for. For more information about Bradford Marine, please visit www.bradford-marine.com.
About Marina Investments Group, Stiles Realty
Julie Fisher Berry is a principal of Stiles Realty’s Marina Investments Group, which specializes in the real estate brokerage of high-end marinas, boat yards and waterfront resort investments. Berry provides exclusive and confidential representation in acquisitions and sales of signature marine properties. Learn more at https://marinainvestments.com/.
Fort Lauderdale Yacht Harbor, LLC
Michael Kelly, [email protected], (954) 791-3800
Paul Engle, [email protected], (954) 791-3800
Adrienne Zalkind, [email protected], (954) 627-9148
Brant Long, [email protected], (954) 627-9102