Hodgdon Yachts has signed a letter of intent with Boothbay Region Boatyard to merge operations. Terms were not disclosed.
The merger would include Hodgdon’s three facilities around East Boothbay, Maine, with a boatyard and marina owned by Boothbay Region Boatyard.
“Combining Boothbay Region Boatyard’s outstanding facilities in Southport and Wotton’s Wharf in Boothbay Harbor with our facilities in East Boothbay, Richmond and Damariscotta will create one of Maine’s largest, full service marine companies,” says Timothy Hodgdon, Hodgdon Yachts president, in a statement. “We look forward to continuing to serve Boothbay Region Boatyard’s existing customers while aggressively pursuing opportunities to grow the combined business.”
Boothbay Region Boatyard will continue to provide maintenance and repair service to vessels ranging from outboard motorboats to yachts up to 80ft. With the addition of approximately 30 employees at Boothbay Region Boatyard, Hodgdon will employ about 150 people in the Boothbay region.