United States

Fifth Avenue

San Diego, California-based boatbuilding and repair company <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">Marine Group Boat Works (MGBW)</a> has been acquired by its co-founder and president, Todd Roberts. He has partnered with entrepreneurs Chip Besse and Skye Callantine, principal of investment firm Vigeo Investments.<img src="https://photo-assets.superyachttimes.com/photo/365846/image/large-59c56410501237dba4be1ce2bdbadaa4.jpg" data-gid="gid://syiq/Photo/365846">Under the new partnership, Besse will serve as Chairman of the Board, while Roberts will continue to actively lead the company in his new role as Chief Executive Officer. The leadership structure will focus on strategic growth and expansion, enabled by the partners’ investment.“Chip and Skye are young, visionary and willing to take risks when they see opportunity. But they are also extremely selective. They only partner with companies with very healthy financials, a strong company structure and even stronger management team,” commented Roberts. “My team and I have a bold vision for expanding the <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW</a> brand and pursuing new market segments, and our new partners share our vision. This investment represents an incredible opportunity for us to make our vision a reality. With the resources that they bring to the table, the sky is really the limit for us now.”<img src="https://photo-assets.superyachttimes.com/photo/365847/image/large-99d84c49fce3e7ec02995bcf064f7279.jpg" data-gid="gid://syiq/Photo/365847">Included in the acquisition are <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW’s</a> two waterfront facilities and their associated assets: a shipyard on San Diego Bay in Chula Vista, California, and a boatyard in San José del Cabo, Mexico. Also part of the deal is Marine Group Global Services, the company’s technical services arm, which provides specialised consulting and marine support worldwide. <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW</a> will also continue to operate and manage the superyacht marina, <a data-gid="gid://syiq/Company/4271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fifth Avenue (Company)">Fifth Avenue Landing</a>, located in downtown San Diego, under its Global Services division.“This year marks my 25th anniversary with the company and talk about a full-circle moment,” said Roberts. “I was originally supposed to close this place down. Instead, the Engel family took a chance on a young guy with big ideas, and together we built something special. We have come a long way, but I’d like to think we’re also just getting started. I’m incredibly grateful for the opportunity to continue the Engels’ legacy and hope to make them proud for many years to come,” concluded Roberts.What began in the 1970s as a boatyard in Chula Vista was relaunched 25 years ago as <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW</a> by Roberts and members of the Engel family. “The company had been approached by several other potential buyers over the years, but they were never the right fit,” explained the company in a press release.All 250 employees across both locations will remain with the company, with additional hires anticipated to support its growth trajectory. To ensure continuity and a smooth transition full management team will also stay on.<img src="https://photo-assets.superyachttimes.com/photo/365845/image/large-45858d406bc8d5a6a6efd4447a65fbf2.jpg" data-gid="gid://syiq/Photo/365845">Among the first visible developments under the new ownership are a full brand refresh, enhancements to the entrance of the Chula Vista shipyard, including the improvement of the visual appeal, functionality and security, especially given its location next to the upcoming Gaylord Pacific Resort, and increased collaboration with the superyacht sector. The company also plans to broaden its naval repair services and expand its construction division, supporting a wider initiative to revive California’s boatbuilding and strengthen domestic manufacturing.Despite the change in ownership, the Engel family will continue to play an active role on San Diego’s working waterfront, retaining their interests in local enterprises including Flagship Cruises &amp; Events, Coronado Ferry Landing and the <a data-gid="gid://syiq/Company/4271" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fifth Avenue (Company)">Fifth Avenue Landing</a> marina, which will remain under the management of <a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW</a>.All photos provided courtesy of&nbsp;<a data-gid="gid://syiq/Company/646" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Marine Group Boat Works (Company)">MGBW</a>.

Todd Roberts MGBW CEO

Marine Group Boat Works (MGBW) has been acquired by its co-founder and president, Todd Roberts.