The Avanti Ocean Group has acquired the assets of Lazzara Yachts in Tampa, Florida, for an undisclosed amount. Avanti consists of private investor Geoff Bond and third-generation Lazzara family members, Joe Lazzara and Steve Lazzara.

A company statement said that the purchase includes all assets, including the intellectual property and moulds.

“This new start allows the next generation of Lazzaras to continue the rich history of yacht building and innovation while allowing us to be even more committed to our owner and vendor base,” said president Joe Lazzara in the statement.

The company will have a new-build and refit sections called Lazzara Custom Yachts and Tampa Marine Services, respectively. It will build new yachts from 19m-39m (64ft-130ft) under the Lazzara Custom brand. The Tampa Marine Services division will do service and refit work for all boat brands. The yard has the capacity to haul out yachts up to 48m (160ft).

The Group will be located on a seven-acre facility (28,328sq m) in Tampa across from Lazzara’s previous manufacturing facility.

In November, a tender builder called Carbon Craft announced that it had purchased the former Lazzara shipyard in Tampa for US$5.4m. It had been a tenant of Lazzara’s but the purchase allowed it to expand to meet demand.

Lazzara Yachts, which was established in 1990, has built more than 170 yachts. The yachts were highly regarded for design, fit and finish.

“Financially speaking, a debt-free company with investment capital puts us in a position to develop new products and take care of our customers in a way that historically made our family so successful,” said Steve Lazzara, CFO, in the statement.