Safe Harbor Marinas has acquired the Savannah Yacht Center, a premier superyacht storage and service destination, in a transaction where consideration took the form of securities in Safe Harbor’s parent company, Sun Communities Inc.
“This is an outstanding addition to our network. The world’s largest vessels have historically been forced to cross the Atlantic for certain services. This facility allows us to serve them with excellence here in the United States and inside the Safe Harbor network,” said Baxter Underwood, CEO of Safe Harbor Marinas.
The Savannah Yacht Center can accommodate the largest superyachts in the Western Hemisphere. It includes a 140-meter graving dock, a 3,240-ton shiplift, and 366 meters of floating docks that can simultaneously accommodate 8, 80-meter superyachts.
“We’re always searching for better ways to serve the superyacht builders, OEMs, owners, captains and crews,” said Tim Sargent, EVP of International Operations at Safe Harbor Marinas. “Savannah allows us to do exactly that.”
The highly modern yacht facility is expected to remain in operation seamlessly as ownership changes hands and its 50 employees will become of Safe Harbor Marinas team members.
“We are incredibly proud of the team at Savannah Yacht Center and their many accomplishments,” said Christian Demere, President and CEO of Colonial Group, Inc. “While it was a great experience building this business, I did not believe we were best positioned to allow it to reach its full potential. I am confident that it will reach new heights as part of Safe Harbor Marinas.”