This story is good news, but oh boy there are a lot of questions about a lot of unknowns. Statistically speaking, the odds are not good, but we are going to cheer them on!
Marine manufacturing and composite company C & T Composites has acquired Catalina and True North Yachts, and has announced a new phase of activity for both brands, with plans to restart manufacturing, introduce new models and develop a new US-built adventure boat line.
Catalina Yachts was established in 1969 and is known for producing cruising and performance sailboats. True North Yachts manufactures Downeast-style powerboats.
The news comes after a period of severe uncertainty for the US sibling boat brands. In May 2025, Catalina Yachts and True North Yachts were acquired by Michael Reardon, founder and chief executive of Daedalus Yachts. In October 2025, Catalina Yachts paused production amid ‘financial challenges’. Later that month, a Florida court evicted Reardon from its manufacturing plant in Largo.
The closure left the workforce abruptly unemployed. In February 2026, Reardon’s holding company was found guilty of wage theft, with a Florida Superior Court judge entering a $1m default judgment against Reardon for the failed asset purchase.
To recover financial losses resulting from the default, the Butler family announced the total liquidation of the factory’s contents in May 2026. On 9 June 2026, the brand’s remaining physical assets, manufacturing tooling and unfinished hulls were sold piecemeal at a public auction.
Read on thanks to The Loose Cannon! Title inspiration thanks to Drake.
