Luxury powerboat company Cigarette Racing under new ownership

Written by Kayla Dowling

Cigarette Racing, a luxury performance powerboat company based in Miami, Florida, has been purchased by Lionheart Capital in partnership with billionaire entrepreneur, John H. Ruiz.Cigarette Racing Team 59’ Tirranna PowerboatThe company was purchased from Cigarette’s longtime owner, Skip Braver, who remains optimistic about the future direction of the company. He comments, “After 20 years of building the Cigarette product line and brand, I look forward to seeing Ophir and John’s vision for the company become a reality. Lionheart Capital and John H. Ruiz share my commitment to quality and performance, as well as my passion for Cigarette's brand, and I'm confident in their ability to take the company to even greater heights based on their own successful ventures, resources and business knowledge.”

Cigarette Racing’s new ownership, consisting of Ophir Sternberg of Lionheart Capital and John H. Ruiz, has a broad vision for the company’s future ventures, which include incorporating state-of-the-art technological advancements. Sternberg explains, “I am thrilled about our acquisition of Cigarette Racing and believe that Cigarette Racing’s brand is daring, defiant and pushes barriers. With that, my partner John H. Ruiz and I, look forward to taking the company into its next chapter where we build upon the legacy of the brand and create significant value in the future through powerful partnerships and unique collaborations, production amplification and increased distribution channels.”

The purchase of Cigarette Racing is especially personal to Ruiz: “Having been an avid fan for decades, I personally own numerous Cigarette hand-crafted powerboats and believe that the brand is on the verge of a new wave of acceleration. Cigarette Racing is such an iconic American name in the world of boating, that it is truly an honor to be a part of the continuation of its legacy that’s been going strong for over 50 years and I look forward to taking it into unchartered waters.”

Cigarette Racing has been in operation for more than 50 years and has collaborated with superyacht designers such as Giorgio M. Cassetta.

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