BRADFORD MARINE ANNOUNCES PLANS TO ACQUIRE BILLFISH MARINA
FORT LAUDERDALE, February 10, 2020 – Fort Lauderdale Yacht Harbor, LLC owners of Bradford Marine (“Bradford Marine”), and Pipewelders, Inc. owners of Billfish Marina (“Billfish Marina”), today announced they have entered into a definitive agreement under which Billfish Marina and its affiliated companies, will be acquired by Bradford Marine for an undisclosed all-cash consideration.
Billfish Marina, a prominent yacht repair facility and marina, in Fort Lauderdale, Florida, announced that it has agreed to terms to be acquired by Fort Lauderdale Yacht Harbor, LLC (“FLYH”) for an undisclosed price. The acquisition of Billfish Marina, and all affiliated entities (Pipewelders Marine, P&R Canvas, and High Seas Technology) is anticipated to close in April, 2020, subject to customary closing conditions. Both properties will continue operations as normal and will retain the “Bradford Marine”, “Billfish Marina” and affiliate names under FLYH ownership.
Julie Fisher Berry, Principal of Marina Investments Group, Stiles Realty, brokered the transaction.
“We are very excited to have the opportunity to acquire Billfish Marina, Pipewelders Marine, P&R Canvas and High Seas Technology. Adding Billfish Marina and its affiliates, with their world-class employees, significantly expands our geographic footprint and the services we can provide to our customers in South Florida,” said John Kelly, Chief Executive Officer of FLYH. “Bradford Marine and Billfish Marina both have customer service focused operating philosophies, and complementary strengths, and we are excited to deploy best practices across the two companies to bring exceptional solutions and services to our combined customer base.”
“One year ago, with the acquisition of Bradford Marine, we looked forward to being an integral part of the Fort Lauderdale marine community to help grow Broward County’s $8.9 billion economic impact that comes from the marine industry,” said Michael Kelly, Chief Operating Officer of FLYH. “Entering into a purchase contract for the purchase of Billfish Marina and its affiliated companies reinforces our commitment to those stated goals.”
Trey Irvine, President of Billfish Marina/Pipewelders Inc., commented, “I’m excited for our customers, and talented employees. Being acquired by Fort Lauderdale Yacht Harbor, LLC, right across the canal from their portfolio company, Bradford Marine, will deliver an unparalleled customer experience and create growth opportunities for our talented team at Billfish Marina, Pipewelders Marine, P&R Canvas and High Seas Technology. Continuing family ownership was very important to me,” Trey further said, “because I can see that John and Michael Kelly are committed to the same high standards my father and I had building Billfish Marina and our other companies to what they are today.”
Trey will continue as an Advisor to the Kellys after the transaction closes.
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 Billfish Marina, Pipewelders Marine, High Seas Technology and P&R Canvas
Billfish Marina is a full-service marina and boatyard located on the New River in Fort Lauderdale, FL. Billfish Marina features a 70-ton Marine Travelift and repair services, as well as over 4,800 lineal feet of dockage for vessels up to 130 feet long. Companies located at Billfish Marina include Pipewelders Marine, High Seas Technology and P&R Canvas, all of which work side by side to provide customers with high quality service. Billfish Marina offers customers the opportunity to have one stop, turn-key service on any refit or new construction. This can be accomplished all at one place, or work can commence at one location and be completed anywhere in the world. Separately, each company is an experienced leader in its field and together, accomplish world-class installations in world-class time. Billfish Marina and its affiliated companies are equipped to offer services to a single small vessel, a sportfish yacht, a large ship or an entire fleet. For more information, please visit www.billfishmarina.com, www.pipewelders.com, www.highseastechnology.com, and www.prcanvas.com.
Kristin Soto and Sylvia Kindlain, K. Soto PR
754.246.8862 / 845.325.9835