Grand Banks and Palm Beach Motor Yachts acquire marina

Grand Banks and Palm Beach Motor Yachts have finalized the acquisition of Casey’s Marina at Spring Wharf in the heart of Newport, Rhode Island Harbor. The marina will be renamed Grand Banks and Palm Beach Motor Yachts Marina, and the purchase included the adjacent 10,000-square-foot Waites Wharf.

Following the recent expansion of its manufacturing facility to accommodate the construction of both newly launched and upcoming models, the company is now the only yacht builder to own and operate a brand-specific marina today in the main harbor of Newport, Rhode Island.

The property will offer reserved berths, haul-out capabilities, a private lounge with boutique guest amenities, and on-site service capabilities delivered with the same craftsmanship and attention to detail that defines every Grand Banks and Palm Beach Motor Yacht.

“I’m excited about this strategic acquisition, which will further enhance our owner experience and service capabilities in the Northeast,” said Mark Richards, CEO and chief designer of Grand Banks and Palm Beach Motor Yachts. “This will be a home for our owners in this iconic harbor where sailing heritage runs so deep. It’s a thrilling next chapter. Newport has been a defining part of my sailing and boat building career for almost forty years. My ocean-racing experience has shaped this company’s direction, bringing true innovation and technology to a classic form. This isn’t just a marina, it’s a place that brings our vision to life.”

“This marina has been part of Newport’s waterfront for generations, and it means a lot to see it in the hands of a team that truly understands and respects its legacy,” said Bill Casey, former owner of Casey’s Marina. “Grand Banks and Palm Beach Motor Yachts have been part of this dock for years, and I’m proud to see them take it to the next level for the community and their owners.”