Speaking of "Trust Issues" ...
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would you like that straight up, or on the rocks?
Catalina Yachts has ceased production due to short-term financial challenges following its purchase by Daedalus Yachts founder Michael Reardon in May 2025. The company cited "short-term financial challenges" as the cause for a temporary production pause, but internal reports from employees point to deeper issues such as unpaid wages, suspended health insurance, and a lack of supplies, leading to an eviction from the manufacturing facility.
Production halt:
Catalina Yachts announced a temporary pause in production in October 2025, citing financial difficulties.
Company acquisition:
In May 2025, Michael Reardon of Daedalus Yachts purchased Catalina Yachts.
Internal issues:
Employee testimonials indicate significant problems under the new ownership, including unpaid salaries, suspended health insurance, and work stoppages.
Eviction:
Reardon was evicted from the Largo, Florida, factory in October 2025 for not making rent payments, according to a lawsuit filed in a Florida court.
Future uncertainty:
The company has stated its intention to resume building boats in the future, but the situation remains uncertain due to the financial and operational issues.
“Short-term financial problems”. Uh huh.
The owner also has Tartan, Freedom and other brands in his portfolio, so good luck with those, too. What usually happens in these cases is that buyers waiting for their boats discover that their hefty deposits were spent finishing other yachts ahead of them, and there’s no money left to build theirs. Or, for that matter, to finish the boats that were still in production. Bummer.
In a move that signals both continuity and transformation in American yacht manufacturing, Catalina Yachts and its sister company, True North Yachts, have been acquired by Michael Reardon, founder and CEO of Daedalus Yachts. The acquisition, announced April 30, marks a significant new chapter for two of the most respected names in U.S. boatbuilding.
With more than five decades of heritage and hundreds of thousands of boats on the water, Catalina Yachts has long been synonymous with quality, performance, and integrity. Now, with Reardon at the helm, the storied brand—and the Downeast-style True North powerboat line—are poised to evolve under a new but deeply aligned vision.
“For over 50 years, Catalina has stood for accessible, well-built boats that deliver real sailing pleasure,” said Patrick Turner, Catalina’s longtime president. “Michael Reardon shares those values, and we’re confident he’ll carry them forward while positioning the brand for the future.”
Reardon, who launched Daedalus Yachts with a focus on sustainable, performance-driven sailing craft, brings a modern sensibility rooted in innovation and environmental responsibility. His acquisition of Catalina and True North reflects a commitment not just to legacy, but to growth—through design, manufacturing, and investment in people.
“We’re not just preserving the legacy—we’re building upon it,” said Reardon. “Catalina and True North are iconic American brands. I’m honored to lead them into the next era of growth and innovation.”
Both companies will continue operations from their current base in Largo, Florida, and Reardon has pledged to retain the existing workforce and dealer network, while investing in new model development across both lines.
The transition also carries a strong emotional note. Jean Butler, wife of late Catalina founder Frank Butler, voiced her confidence in the new direction. “Frank believed in building boats that brought families together and gave people joy on the water,” she said. “I believe Michael Reardon understands that spirit. Frank would be proud to see Catalina and True North in the hands of someone who values the people, the product, and the passion that built this company.”
For current owners, dealers, and sailors across the country, the message is one of stability and optimism. There will be no immediate disruptions in support or service, and Reardon’s track record suggests a fresh round of energy and ideas could soon shape the future of both brands.
Founded in 1969, Catalina remains one of the largest sailboat manufacturers in the U.S., with a focus on building high-quality boats that strike a balance between cruising comfort and responsive sailing. True North Yachts, known for their classic Downeast aesthetics and offshore-capable hulls, has expanded Catalina’s reach into the powerboat market with a similarly hands-on approach to design and build quality.
Daedalus Yachts, meanwhile, has carved a niche in high-performance, eco-conscious sailing, and Reardon’s leadership there has been marked by bold design choices and a commitment to sustainability.
The coming months will likely reveal how these three brands—each with its own DNA—will integrate and influence one another. But one thing is certain: American boatbuilding has a fresh breeze on the beam.
The rag was still serving as the defunct company’s mouthpiece as recently as October 20 when, sounding exactly like Spinal Tap’s PR guy, it hailed the soon-to-be permanent shutdown “production pause” as one that would “ensure the company’s stability going forward”. Jesus.
The Maine Wire offers more honest reporting from a local perspective, although Catalina was a national brand, and you’d certainly find them up and down Long Island Sound and all around the country. :
Maine Sailing, Fishing Community Rocked By Catalina Yacht and Powerboat Company Going Out Of Business
The sudden shutdown of Catalina Yachts has hundreds of Cat owners across Maine dumbfounded – and worried.
The sailboat manufacturer – once considered the largest such business in the world – announced last week it was closing “temporarily” amid a boardroom battle.
Florida Catalina President Patrick Turner announced the main factory was going dark til further notice.
The shutdown comes amid a company reorganization following its purchase by renowned yacht dealer Michael Reardon, who allegedly has reneged on the sale.
Reardon had also promised to buy Catalina’s sister company, True North Powerboats, known for their Downeast-style vessels – favorites of fishermen and recreationists.
But the business deal is now apparently becalmed, throwing into uncertainty for Maine boaters and fishermen Reardon’s corporate future.
A Florida court last week evicted Reardon from Catalina’s manufacturing plant.
The company’s sailboats are a staple among recreational sailors nationwide, the most common boats plying the Maine coast and the state’s inland waters.
…. A key question among Cat owners is whether they will be able to maintain their boats since parts will be hard if not impossible to get.
Turner insisted that “pending orders” will be honored, but boaters are leery – and fear new orders will be spiked.
“I’m absolutely shocked that we aren’t talking more about this major announcement,” Ken Bauer of Catalina Sailboat Owners Association said Saturday.
In his statement Saturday, Turner tried to downplay the alleged bleak outlook.
“All existing boat orders remain in place and will be fulfilled,” he said. “Our dealer network remains available to assist with sales, service, and warranty matters.”
…. Reardon, founder of Daedalus Yachts of North Carolina, acquired Catalina six months ago.
He also acquired sister company True North in the same deal, as well as Tartan Yachts, Freedom Yachts and AMP Carbon Spars, making him America’s largest recreational yacht builder.