Byline: Ambrosia Brody
PERRIS — The builder of Navigator and Californian Yachts has been sold to an unnamed private equity investment group, and the company is now known as Navigator Yachts and Products Inc., general manager Alberto Cogliati told The Log Newspaper.
Navigator Yachts, which was previously owned by founder Jule Marshall and his family, will continue to build 45- to 68-foot semi-custom long-range cruising yachts at its plant in Perris. However, the Marshall family is no longer involved in the company, Cogliati said.
“The previous owner did sell the company at the end of 2012 to an investment group who owns different businesses, some in the U.S. and some in Canada,” Cogliati said. “They are now the new owners of Navigator Yachts Inc.”
Navigator Yachts Inc. is now operating under the new owners.
Cogliati, who has been with the company for 12 years, explained that with the new ownership comes fresh ideas.
“We are financially stronger than before, and with their ideas combined with our experience, we are hoping to be a little bit more successful in the future,” he said. “Not only that, but we are hoping to expand our market outside the country — not only in the U.S., but we would also like to expand to South America and Canada. That’s the general plan.”
Cogliati said that his experienced staff has been building boats for anywhere from 10 to 25 years.
According to Cogliati, Navigator and Californian models will continue to be sold through the existing dealer network in the U.S., and international sales may eventually be expanded.
“We built a lot of boats with the Marshalls,” he said. “We did very well, but now we hope to do a little better.”
Upcoming changes are expected to include introduction of a new model and advanced material and production techniques to improve the products and decrease costs.