EAST BOOTHBAY, Maine — Hodgdon Yachts has completed its merger with Boothbay Region Boatyard in Southport and Wotton’s Wharf in Boothbay Harbor, reorganizing the two acquired companies into a new division called Hodgdon Yacht Services.
The terms of the deal were not disclosed.
Timothy Hodgdon, the company’s CEO, said the deal adds about 30 employees to the company, which has around 150 workers, including sites in Richmond, for its interiors division, and Damariscotta, where it builds custom yacht tender vessels.
“It adds another element of diversification to our company,” Hodgdon said Tuesday in a phone interview.
The nearly 200-year-old company specializing in building custom boats, superyacht tenders and projects for the U.S. Department of Defense first announced the deal in January. The parent company, Hodgdon, said in a statement Tuesday that Sandy Spaulding, the company’s senior business adviser and a former president of Hinckley Yachts in Southwest Harbor, will lead the new yacht services division as president.
The former Boothbay Region Boatyard will support new services like refitting, support, slip and mooring rentals and fuel sales, while Wotton’s Wharf will dock and slip space, Hodgdon said. Both locations have a marine store.
Hodgdon said he expects that the new division will provide support for boats built by the company’s custom yacht and yacht tender divisions.
“It all dovetails very nicely,” Hodgdon said.
He said the company has two yachts under construction — a 100-footer and 65-footer — as well as three yacht tender vehicles, a 116-foot being refitted and other smaller projects.