mjm yachts sold

Published on September 12th, 2023 | by Editor

Private equity firm buys MJM Yachts

Published on September 12th, 2023 by Editor -->

Saothair Capital Partners, LLC (Saothair), a private equity firm specializing exclusively in middle-market manufacturing and industrial companies, has acquired the MJM Yachts business and assets of MJM Yachts (MJM) through its newly formed affiliate, Seolta Holdings, LLC (Seolta).

MJM Yachts was founded in 2002 by Bob Johnstone, who, in 1977 co-founded J/ Boats, Inc., the world’s leading brand of performance sailboats. In 2019, Johnstone sold MJM to his son Peter.

In 2021, MJM started production in its new MJM Yachts factory in North Carolina. MJM’s market-leading high-tech, post-cured, epoxy infusion process has led to lighter, stronger, more durable composites, which further improved the impressive performance and fuel economy.

While enduring pandemic, supply chain, and factory start-up challenges, MJM managed to double output. The formation of Seolta Holdings will lead to further increases in output and sales growth to meet MJM’s increasing demand. The past year has created a battled-tested MJM factory team ready to take MJM to the next level.

mjm yachts sold

“We are thrilled to embark on this new chapter for the MJM brand,” said Kevin Madden, Co-founder, and Managing Partner of Saothair. “With its rich history, outstanding reputation for quality, performance, and design, MJM has established itself as a leading producer of luxury yachts. We are committed to providing the necessary investment to further grow MJM’s prominence in the industry.”

Richard Lozyniak, Co-founder, and Operating Partner of Saothair, added, “Our investment, together with Peter and the entire team, will provide the company with the capital required to expand the business and solidify the MJM brand aggressively.”

Rich and Kevin bring invaluable expertise to the MJM Team and its next chapter as Seolta Holdings. They have appointed Peter Johnstone as President and Chief Executive Officer of Seolta.

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Tags: Industry , MJM Yachts , Peter Johnstone

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mjm yachts sold

There is a right and a wrong in the universe, and that distinction is not hard to make. Superman

Saothair Goes Cruising with MJM Yachts

Mjm is a designer and builder of carolina downeast-style luxury yachts used in sportfishing, cruising, and entertaining.

mjm yachts sold

MJM's yachts include inboard or outboard diesel engines, spacious cockpits, and an enclosed cabin or pilothouse for comfort in various weather conditions.

Source: mjm yachts.

  • By John McNulty
  • September 7, 2023

mjm yachts sold

MJM is a designer and builder of high-performance Carolina Downeast-style luxury yachts. Carolina Downeast-style boats are a classic type of recreational boat originating from the New England and Atlantic Canadian regions. These boats – used for sportfishing, cruising, and entertaining – typically feature a single inboard diesel engine, spacious cockpits, and often have an enclosed cabin or pilothouse for comfort in various weather conditions.

mjm yachts sold

MJM was founded in 2002 by Robert Johnstone and is based in Washington, North Carolina. Peter Johnstone , who has led MJM since 2019, will serve as the president and chief executive officer of Seolta.

“In 2021, we started our own manufacturing and developed leading high-tech production processes,” said Mr. Johnstone. “Sales doubled, and demand continues to grow. Our mission is to deliver MJM customers their fondest shared adventures, regardless of conditions.”

mjm yachts sold

Saothair was co-founded in November 2019 by former KPS Capital Partners’ professional Kevin Madden and Richard Lozyniak , a former CEO of three KPS portfolio companies. The firm is headquartered near Philadelphia in Radnor, Pennsylvania.

mjm yachts sold

“Our investment behind Peter and the entire team will provide the company with the capital necessary to grow the business and build the MJM brand aggressively,” said Mr. Lozyniak.

mjm yachts sold

“Market-leading yachts result from terrific people. We thank our dealer network, loyal owners, industry vendors and dedicated workforce. Rich and Kevin will further strengthen the team that is committed to our success. Seolta’s support will fuel MJM’s ascent further. I am thrilled to be able to bring MJM to the next level,” added Mr. Johnstone.

Los Angeles-based SierraConstellation Partners was the financial advisor to MJM Yachts.

© 2023 Private Equity Professional | September 7, 2023

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328' Alarnia 2023

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DESCRIPTIONS

Standard Specifications

HULL & DECK

  • Modified deep-V hull w/sharp entry, 3.5:1 length to beam ratio and19.5-degree deadrise
  • Built to ISO Category B Offshore standards
  • Strong, light, modified epoxy infusion cored composite
  • Hull painted in yacht paint w/2 clear coats
  • Cored deck fused to hull as monocoque structure w/solid glass or high density backing of hardware
  • Port cockpit serving bar with sink and refrigerator
  • Starboard cockpit serving bar with stemware storage cabinet
  • Electric opening windshields w/wipers&washers
  • 316SS custom deck cleats and chocks
  • Exterior and interior safety handrails
  • Retractable swim/safety ladder on outboard platform
  • Ultraleather cockpit cushions
  • Varnished teak drawers under helm and co-pilot seats
  • Dual position pilothouse & cockpit table (24”x36” double-leaf)
  • Tinted sliding glass side windows
  • Roll-up Strata Glass aft w/dual window/screen
  • Large pilothouse settee lockers & port, aft settee locker
  • Starboard cockpit locker
  • 4 overhead hatches, 2 fixed hull ports
  • Stidd 500 helm seats on telescoping swivel bases
  • 5/8”Rode w/chain, wash down & electric windlass
  • 2.5’ x 4’ national flag w/ varnished teak staff 
  • Anti-glare console w/RitchieSS-1002compass
  • StainlessDualTrumpetElectricHorn
  • GarminGPSMAP® 8612xsv
  • GarminGMI™20
  • GarminVHF315AISatHelm
  • AirmarB60 Transducer
  • MercurySmartPilotAutopilot
  • MercuryVesselViewMFD

PROPULSION & STEERING

  • Twin Mercury Verado V8 300XLs w/Joystick Piloting, Skyhook and AutoTrim
  • 24” Stainless Edson destroyer wheel with teak rim
  • Zipwake 450S electric interceptor trimtabs
  • 250 gallon vented, epoxy coated, aluminum fuel tank 
  • Enclosed head/ shower to port w/ corian countertop, sink, vanity cabinets, and drawers
  • Dry storage locker starboard w/access to helm electronics
  • 12V DC System with breaker switches and OLED voltmeter
  • 120V AC System w/ 30A shore power inlet
  • Victron multifunction charger/ inverter with built in automatic transfer switch, 3000w inverter, 150A charger and color control panel
  • Two Victron house batteries for a total capacity of 440 amp-hours and two Optima800CCA start batteries
  • 4-GFI/USB duplex outlets and 2 USB outlets at helm and co-pilot dash
  • 50’ white shore power cord
  • Dimmable overhead LED lights in pilothouse, head, and dry storage areas
  • Courtesy lights in bilge and large storage lockers
  • LED navigation and anchoring lights
  • Fusion Apollo SeriesTouchScreen RA-770andFusionSpeakers&Subwoofer
  • Co-pilotelectricwindowcontrols
  • Two automatic bilge pumps
  • 12v head w/25 gal. holding tank, marina pumpout & overboard macerator discharge
  • Gray water sump w/strainer and clear inspection port for shower and AC condensate
  • 8 Gallon Hot WaterTank(w/ Shorepower or Genset)
  • On-demand fresh water pressure system
  • Hot/cold transom shower

NOTICE: These Specifications of design, equipment, layout and construction are subject to change without notice or MJM being obligated to incorporate such changes in boats under construction or previous products. Estimated weights, speeds, fuel consumption and other performance characteristics may vary based on options selected.

Disclaimer The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

PRESENTED BY

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MJM Yachts

The MJM 50z

Timeless design.

The MJM 50z is an eco-smart game changer featuring advanced composite construction, an innovative layout and the latest stabilizing technology. Her stronger, lightweight epoxy construction results in a very low vertical center of gravity. That translates into greater stability, ISO-certified Category A seaworthiness, and an impressively comfortable ride. MJM 50z was the first motoryacht worldwide to offer the “no roll” Seakeeper Gyrostabilizer as standard equipment. Adding further to comfort and livability: Her flush-deck layout from cockpit to helm combined with side boarding doors at floating dock height eliminates the many up-downs and boarding access challenges of other yachts.

You want to look at your boat with pride and know you own a work of art. A boat that draws compliments on entering the harbor—not a “here today and gone tomorrow” styling. That’s why Doug Zurn was chosen as the designer. He has the best eye in the business and created the Shelter Island 38 for singer Billy Joel. A U.S. design patent protects that unique MJM signature look. There are other important benefits of the 50z’s sleek profile: Lower bridge clearance, greater stability for seaworthiness, faster hose-down after use, less windage and easier trucking overland.

50z Distinctions

  • ISO certified category "A" ocean
  • Innovative layout and design
  • Advanced Epoxy, Eglass, Kevlar composite construction
  • Seakeeper gyrostabilizer standard
  • Flush deck with side access doors
  • All-weather pilothouse comfort
  • Fully-opening powered windshields

Key Features

  • 50 GPH @ 35 knot cruising speed
  • Volvo Penta IPS docking
  • Seakeeper Gyro standard

Accommodations Versatility

The MJM Yachts 50z is an innovative luxury cruising yacht. One of her most distinguishing features is the versatility of her layout.

Advanced Manufacturing and Materials

The quality of construction is one of the fundamentals that set MJM Yachts apart as the finest in its class.

Principal Dimensions

  • Length Overall w / Swim Platform & Bow Roller 54' 9''
  • Length on Deck 50'
  • Draft Twin IPS 2' 11-1/2"
  • Deadrise/Transom 18.6°
  • Fuel Capacity 534 gal
  • Standard Power Twin 435hp IPS 600
  • Optional Power Triple 435hp IPS 600
  • Displacement 1/2 Load 32,850 lb
  • Weight Capacity 7,172 lb
  • Max Headroom 6‘ 6“
  • Max Persons 30
  • Water Capacity 150 gal
  • Air Height (w/Radar) 10’ 6-1/2”
  • Range @ 7.8 kts 1,451 nm

Schedule A Sea Trial

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Contact us to learn more about the 50z

© 2024 mjm yachts, all rights reserved.

  • First Name *
  • Last Name *
  • Models * I'm Interested in* 3z 35z 43z 43zi 53z 53zi
  • Home Port *
  • Boat Model & Year Built
  • Name This field is for validation purposes and should be left unchanged.

Pamlico Yachtworks Department: Accounting Position: CFO

Pamlico Yachtworks seeks CFO well-versed in all aspects of financial management ranging from simple accounting to broad investment and banking operations.

Key attributes for candidates:

  • High-plant-touch orientation
  • High technical financial, accounting and tax expertise, along with
  • Exceptional “affability/teaming” attributes, in
  • Complex, mid-tier manufacturing environments

Employee Duties & Responsibilities

  • monthly/periodic financial reports and analyses.
  • projections and budgets
  • reconciliation with requisite supporting information for accurate presentation of the financial reports.
  • Oversees the accounting function (accounting, accounts payable and payroll) and billing and collections functions of the organization.
  • forecasting cash flows and operating results
  • presenting financial and other information to the leadership team and the Board of Directors.

Requirements and skills

  • Proven experience as CFO, finance officer or relevant role
  • In depth knowledge of corporate financial law and risk management practices
  • Excellent knowledge of data analysis and forecasting methods
  • Proficient in the use of MS Office, MS Excel, QuickBooks, ERP and financial management software
  • CPA is a strong advantage
  • BSc/BA in Accounting, Finance or relevant field; MSc/MBA is a plus

42 optional layouts

Stay in the know. Get the latest information on MJM Yachts including new models, events, & more.

By submitting this form, you are consenting to receive marketing emails from: MJM Yachts. You can revoke your consent to receive emails at any time by using the unsubscribe link, found at the bottom of every email.

A Zurn Design

IMAGES

  1. 2017 MJM Yachts 50z Motor Yacht for sale

    mjm yachts sold

  2. 2014 MJM Yachts 40z Express Cruiser for sale

    mjm yachts sold

  3. 2020 MJM Yachts 43z Motor Yacht for sale

    mjm yachts sold

  4. 2016 MJM Yachts 40z Downeast Downeast for sale

    mjm yachts sold

  5. MJM Yachts Boats for Sale

    mjm yachts sold

  6. 2012 MJM Yachts 40z Express Cruiser for sale

    mjm yachts sold

COMMENTS

  1. Saothair Capital Partners Completes the Acquisition of MJM Yachts

    31 Aug, 2023, 20:43 ET. RADNOR, Pa., Aug. 31, 2023 /PRNewswire/ -- Saothair Capital Partners, LLC ("Saothair"), a private equity firm focused exclusively on investing in middle-market ...

  2. Saothair Acquires MJM Yachts

    Founded in 2002 by Robert Johnstone and based in Washington, North Carolina, MJM (www.mjmyachts.com) is an industry-leading designer and builder of high-performance Carolina Downeast-style luxury yachts. MJM uses advanced composites and cutting-edge processes to build lighter, stronger, and faster boats with a superior rider experience.

  3. Private equity firm buys MJM Yachts >> Scuttlebutt Sailing News

    MJM Yachts was founded in 2002 by Bob Johnstone, who, in 1977 co-founded J/ Boats, Inc., the world's leading brand of performance sailboats. In 2019, Johnstone sold MJM to his son Peter.

  4. MJM Yachts was purchased by private equity firm Saothair Capital

    MJM Yachts was founded by Bob and Mary Johnstone in 1977. In fact, MJM stands for "Mary Johnstone's Motorboat." MJM builds and designs a range of outboard and inboard luxury performance yachts in a Carolina Downeast style. Their most recent design, the MJM 4, expands the abilities of a modern bowrider.

  5. Saothair Capital Partners Completes the Acquisition of MJM Yachts

    MJM Yachts utilized Nelson Mullins for legal counsel and SierraConstellation Partners as advisors. ... These products and services are usually sold through license agreements or subscriptions. Our ...

  6. Saothair Goes Cruising with MJM Yachts

    These boats - used for sportfishing, cruising, and entertaining - typically feature a single inboard diesel engine, spacious cockpits, and often have an enclosed cabin or pilothouse for comfort in various weather conditions. Source: MJM Yachts. MJM was founded in 2002 by Robert Johnstone and is based in Washington, North Carolina. Peter ...

  7. Saothair Capital Acquires MJM Yachts

    The deal, which was run through Saothair affiliate Seolta Holdings, includes the MJM business and its assets. "With its rich history, and outstanding reputation for quality, performance and design, MJM has established itself as a leading producer of luxury yachts," Kevin Madden, co-founder and managing partner of Saothair, said in a statement.

  8. Private equity firm buys MJM Yachts

    MJM Yachts was founded in 2002 by Bob Johnstone, who, in 1977 co-founded J/ Boats, Inc., the world's leading brand of performance sailboats. In 2019, Johnstone sold MJM to his son Peter. In 2021, MJM started production in its new MJM Yachts factory in North Carolina. MJM's market-leading high-tech, post-cured,…

  9. Saothair Capital Partners acquires Mjm Yachts

    Mjm Yachts Mjm Yachts is engaged in the designs and builds outboard and inboard luxury yachts. Acquiring Organization: Saothair Capital Partners Saothair Capital Partners is a private equity investment firm that focuses on lower-middle market industrial and manufacturing businesses.

  10. Luxury Yachts

    Get the latest information on MJM Yachts including new models, events, & more. By submitting this form, you are consenting to receive marketing emails from: MJM Yachts. You can revoke your consent to receive emails at any time by using the unsubscribe link, found at the bottom of every email.

  11. Southern Boating Interviews MJM Yachts Founder, Bob Johnstone

    7 Questions for Bob Johnstone, Owner of MJM Yachts. Focus on efficiency paramount for this boat builder, who also makes time for leisure cruising. ... J Boats has just had the most successful launch ever with its new 36.5′ J/111 with over 70 boats sold. I spent a delightful summer with sons, grandchildren and friends racing on Tuesday and ...

  12. 2023 MJM 4

    The MJM 4: Better Performing All Weather Yacht. MJM Yachts are world-renowned for their timeless style, high-tech construction, and superior materials. The 4 is an impressive day yacht featuring 4 social zones and a galley-up layout. Below deck features a large v-berth as well as a double berth amidships. With the protection of a pilothouse ...

  13. 46 Mjm 2023 Palm Beach Gardens

    46' Mjm 2023. This Beautiful MJM 4 is an impressive day yacht featuring 4 social zones and a galley-up layout. Below deck features a large v-berth as well as a double berth amidships. With the protection of an indoor/outdoor pilothouse, innovative spacious layout, and exceptional stability, she is all about style, comfort and fun.

  14. Saothair Capital Partners Completes the Acquisition of MJM Yachts

    PR Newswire. RADNOR, Pa., Aug. 31, 2023 /PRNewswire/ -- Saothair Capital Partners, LLC ("Saothair"), a private equity firm focused exclusively on investing in middle-market manufacturing and ...

  15. MJM Yachts for sale

    MJM Yachts equips models listed with outboard-4S drive power options, available with gas propulsion systems. Sought-after for their Downeast, the MJM Yachts listed generally have an extremely deep draft and exceedingly wide beam, qualities that make them popular and an excellent choice for a variety of commercial and recreational boating ...

  16. MJM boats for sale

    MJM. MJM is a yacht brand that currently has 52 yachts for sale on YachtWorld, including 21 new vessels and 31 used yachts, listed by experienced yacht brokers mainly in the following countries: United States, Canada and Greece. Models currently listed on YachtWorld differ in size and length from 29 feet to 56 feet.

  17. 2023 MJM 3

    (SOLD) 2023 MJM 3 In Stock and available for showings at our Oxford, Maryland yard. On display at the Bay Bridge Boat Show April 14-16, 2023 & DC Boat Show May 5-7, 2023! Designed in a modern Carolina Downeast style, the MJM 3 is a luxury performance, all-weather, dual console day-yacht. The MJM 3 includes the protection of a pilot house, the ...

  18. MJM Yachts 43z Boat Review: Cruising Compatible!

    The popular MJM 43zi inboard was converted to the new 43z, featuring triple 300 stock or 350 HP Mercury Verado outboard engines. While cruising in the mid-30 mph range with a top speed in the low 50s, the MJM 43z became a performance cruiser, still capable of island hopping and sandbar visits with its 26" draft, making it an ideal, easy to ...

  19. MJM Story

    MJM Yachts was founded in 2002 by Bob Johnstone, who, in 1977 co-founded J/ Boats, Inc., the world's leading brand of performance sailboats. J/Boats currently has 15,000 boats sailing worldwide and 20+ Boat of the Year awards to its credit. Bob is a member of the National Sailing Hall of Fame and recipient of the prestigious Mystic Seaport ...

  20. 2016 Mjm 40z Express CRUZ for sale in Long Beach, CA

    SOLD by Galati Yacht Sales - 2016 MJM Yachts 40Z Express. Yachts for Sale. All Yachts; New Yachts. New Yachts. Viking Yachts; Valhalla Boatworks; Princess Yachts; Cruisers Yachts; Prestige Yachts; G120 By Hargrave; Available Inventory; ... The 2016 MJM 40z "CRUZ" is a fuel-efficient 40-foot powerboat, thanks to both the Volvo IPS pods and the ...

  21. MJM Yachts 53z: World's Largest Outboard Powered Express Cruiser

    A Flagship For Family Cruising. The 53z is MJM Yachts' flagship outboard-powered express cruiser that the builder touts as "the largest outboard-powered express cruiser yacht in the world". She is a two-stateroom (optional layouts), downeast-style luxury yacht that evokes a dash of Hemingway and a touch of "lobster yacht" practicality ...

  22. 50z

    The MJM 50z is an eco-smart game changer featuring advanced composite construction, an innovative layout and the latest stabilizing technology. Her stronger, lightweight epoxy construction results in a very low vertical center of gravity. That translates into greater stability, ISO-certified Category A seaworthiness, and an impressively ...

  23. MJM 34z -SOLD

    Take a look at our video tour of the 2009 MJM 34z - Resolute from Andrew Porter with East Coast Yacht Sales. This stunning boat features a spacious cockpit, ...