06-11-2020 21:56 PM

New Hargrave Design Process

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05-14-2018 12:25 PM

Hargrave Custom Yachts Going Independent

Since its inception in 1997, Hargrave Custom Yachts has been in the hands of Michael Joyce, a longtime figure in the yachting industry. Joyce is spinning it off in the coming months. It will therefore be an independent company, which will further seek a business partner, to keep growing.

While an investor does not yet exist, Joyce plans to sell 50-percent ownership. Currently, his family trust holds full ownership.

Hargrave Custom Yachts gets its name from the late Jack Hargrave. A renowned naval architect responsible for more than 7,000 vessels of all kinds, he died in 1996. Joyce worked for Hargrave from 1977 to 1981, when he left to establish the brokerage house Colonial Yacht Sales. He then began working with Hargrave again in the mid-1990s on a book about his life when the designer suddenly died. Joyce was convinced that Hargrave’s legacy could transition into a yacht-building brand. He also believed the legacy could parlay into a personal touch with customers. He therefore acquired the rights to the design office from Hargrave’s widow. “We literally could launch a new project in hours because of all the design, engineering, and proven test data that we already had in hand,” he explains.