FORT LAUDERDALE, Fla. – At the conclusion of the Fort Lauderdale International Boat Show, marine industry consultant Port Royal Group LLC announced it had acquired the hard assets and proprietary operating technology of AeroLite Marine Interiors, Port Royal Group President Phil Friedman reported in a recent statement.
“Our original brief was to plan and manage the start-up of AeroLite Interiors, and to oversee its development of proprietary technology for the construction of ultralight yacht cabinetry and furniture, Friedman explained. “With the start-up phase completed, and the company solidly established, we were concerned to see the operation moved in a direction suited to, what we see, as the likely prevailing market conditions for the short to medium term. In order to accomplish that, we needed to move into a position of primary control.”
Friedman said AeroLite was poised to begin work on prefabricating and installing the interior accommodations for two vessels currently coming down the production line, but that previous partners in the AeroLite venture were divided as to whether expansion under current market conditions was desirable. Because Friedman believed strongly that it was and, further, that the additional, broader experience to be gained by working in the military sector would yield important spin-off for the firm’s ongoing work in the yacht building sector, Port Royal Group decided to buy out the firm.
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