July 2, 2015 saw the global alternative asset manager, The Carlyle Group, announce the acquisition of Lauderdale Marine Center (LMC). This represents the largest yacht repair facility in the USA in terms of the number of large vessels it can haul and service.
“In partnership with the outstanding management team and staff at LMC, we will build upon LMC’s success through growth and continued innovation and superb customer service,” comments Thad Paul, Managing Director at The Carlyle Group. “Favorable demand trends in the mega-yacht industry and the high barriers to entry for new supply in Southeast Florida attracted us to the investment.”
Located in Fort Lauderdale on the New River, LMC is a 50-acre facility, featuring a boatyard, marina and marine service center. It accommodates yachts up to 200 feet in LOA with 19 covered sheds and 156 wet slips, has three marine travel lifts with haul-out capacity up to 330 tons, and features 7,000 linear feet of dockage.
Carlyle’s plans for LMC include minor renovations and several expansions in the near term. Mark Pratt, General Manager of LMC since 2000, comments: “Carlyle has a track record of value creation in its business and property investments, which makes their ownership a welcome development for LMC. With our state-of-the-art facilities and unique operating model that allows captains to choose their own contractors, we are ideally positioned for future growth.”
