Broward Yachts is sold

FORT LAUDERDALE, Fla. - Tom Lewis, president and CEO of LPI Holdings, LLC, has completed an acquisition of the assets of Broward Yachts, a Broward County (Fla.)-based manufacturer of luxury, semi custom-built yachts, the company reported.

Included in the assets being acquired are all of the company's intellectual properties and trademarks, as well as the manufacturing and repair facility, brokerage location and marina. Financial terms of the transaction were not disclosed.

Broward Yachts has been making high-end yachts from 80 to 157 feet in length for the past 50 years.

Lewis said his original interest in the company stemmed from an inquiry to purchase a Broward Yacht. However, the more he learned about the yachts and the people behind the company, he discovered an excellent opportunity to expand the Broward franchise.

Lewis is focused on maintaining and preserving the Broward mega yacht marina, which serves as a considerable economic engine for Broward County and the region's yachting industry. As a result, this decision will also safeguard jobs at the marina and promote continued economic expansion within the industry.

He also plans on reassembling many of the original members of the company's staff. In fact, the first person he hired was the company's former human resources officer, who will provide significant assistance in locating many former employees.

“As an avid boater for 30 years, I am well aware of the economic and social impact yachting provides to the South Florida community,” said Lewis. “I am excited about the opportunity to bring back many of the people previously affiliated with Broward's original ownership. And I am dedicated to providing the resources necessary to grow this hometown company.”

“Broward has been a cornerstone of the Broward County marine industry for many years,” said Frank Herhold, executive director of the Marine Industries Association of South Florida. “For decades, Broward set the standard of excellence for luxury yacht building in South Florida. And now with Tom Lewis' commitment and resources, the Broward brand will once again be restored to a level of customer satisfaction associated only with the finest yacht builders in the world.”

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