Off The Hook Yachts Acquires Bellhart Marine

Marine marketplace Off The Hook YS Inc. recently acquired Bellhart Marine Group, LLC, along with its affiliated entities Bellhart Marine Services, LLC, Specialized Mechanical Services, LLC, and Specialized Mechanical Services, Inc. (collectively, “Bellhart”).

The combined platform is designed to function as a high-efficiency reconditioning and service engine, according to the company. By bringing service operations in-house, Off The Hook expects to:

• Significantly accelerate inventory reconditioning timelines
• Improve gross margins through lower service costs
• Increase control over quality and execution
• Enhance speed-to-market for resale inventory

“This is an infrastructure-driven acquisition,” said Jason Ruegg, founder of Off The Hook Yachts, in a news release. “We are building what we believe will be one of the most efficient marine service and refit platforms on the East Coast-allowing us to recondition boats faster, more cost-effectively, and at a higher level of consistency than the traditional model.”

Establishing a Three-Location Service Network

As part of the transaction, Off The Hook will operate an integrated, multi-location service platform across three facilities:

• Cape Fear River Shipyard (Heavy Service & Yacht Refit Hub): A full-service shipyard capable of hauling vessels up to approximately 70 tons, supporting major refits, structural work and large-yacht service projects.
• Market Street Facility (Outboard Service & Repower Center): A high-volume service and diagnostics center focused on outboard engines, repowers and ongoing maintenance, while also serving as a primary sales and customer interface location.
• Sloop Point Marina (Dry Stack Service & Sales Hub): Following recent approval to expand to approximately 450 dry stack racks, this location will serve as a high-density service and sales hub. Bellhart will lead service operations and new boat sales, supporting a large and growing captive customer base.

“Service is one of the most important-and historically fragmented-components of the marine industry,” added Ruegg in the release. “By bringing this capability in-house with proven operators like Bellhart and Specialized Diesel, we are creating a platform that is faster, more efficient, and more scalable.”

The transaction is subject to customary closing conditions, according to the company, including due diligence and third-party approvals, and is expected to close within a standard transaction timeline.