Trinity forms The Gulf Coast Shipyard Group

Trinity Yachts and its offshore division, TY Offshore, have formed a new organisation after announcing outside investment from a multi-billion dollar private equity firm.

The Gulf Coast Shipyard Group, concurrent with its new investment partner Littlejohn & Co, will follow a new strategy, said President John Dane III:

“Littlejohn has an impeccable reputation along with the ability to bring equity, strategy and experience in order to successfully grow and diversify our operations.”

Dane added that the investment would also lead to immediate results with the start of a long awaited US $9 million capital improvement programme to the Gulfport, Mississippi yard. The injection is expected to increase efficiency and annual output.

“All told, we expect these events will further establish our operations as a premier builder and major employer,” he said.

Felix S. Sabates Jr. stepping down as Trinity’s chairman, will become advisor and consultant to the new organisation.



Edmund J. Feeley, managing director of Conneticut-based Littlejohn, said he "looked forward" to the partnership with the Gulf Coast management team:

He said they want to "continue the company’s strong growth trajectory into new markets” as well as capitalise on the strong outlook of the oil and gas drilling and production side of the business.

The development is a positive step for America’s superyacht building industry, which has in recent years suffered from factors including competition from European builders and reticence to spend from its austerity conscious American high net worths. With one of its biggest builders now in a strong position, it could give the market a much needed injection of confidence, echoing Trinity’s Billy Smith’s own positive views for the USA voiced at the recent American Superyacht Forum:

“I think the US is going to have to go through some tough period, it’s going to have to wake up and realise that some things that we’ve been doing are not working, we have to make some changes,” he said, on day one of the event.

A more in depth report on the investment and strategy of The Gulf Coast Shipyard Group to follow.

Profile links

Trinity Yachts Inc

---

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.