Galati Yacht Sales transitions to employee ownership
Galati Yacht Sales has announced the transfer of beneficial company ownership to its employees through an Employee Stock Ownership Plan. The company stated that this transition secures its legacy while empowering employees with shared ownership in the yacht sales and service firm.
“For more than 55 years, our family and dedicated employees have built Galati Yacht Sales into the powerhouse it is today,” said Joe Galati, president of Galati Yacht Sales. “Establishing an ESOP is the natural next step to ensure future success. Our leadership team, management structure and the way we work today stays the same. Our focus on teamwork, innovation and customer support continues as always. We’ve always referred to ourselves as ‘Team Galati,’ and this transition to employee ownership is a way to honor our employees’ exceptional contributions and reward them with shared equity.”
Galati Yacht Sales, inducted into the Boating Industry Hall of Fame in 2009, operates 14 locations across Florida, Alabama, Texas, California, Mexico and Costa Rica, including four yacht service yards.
