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Article Excerpt
Owners of the Southbay Boat Yard in Chula Vista, which is undergoing a $6 million redevelopment, are gearing up to become a worldwide player, hoping to reel in all those multimillion-dollar mega-yachts now being serviced elsewhere.
"We've been here a long, long time," said Todd Roberts, vice president of the business that is reinventing itself as the Marine Group LLC. "About two years ago, we started analyzing the commercial market and super-yacht community--the big, multimillion-dollar yachts. There was a lack of repair space in the United States, and on the West Coast in particular."
Ownership saw a need, decided to fill it and now is upgrading a business that goes back about two decades. Originally established by Art and Herb Engel as a small boat repair facility in Chula Vista, the Southbay Boat Yard has "serviced tuna boat skiffs to specialized Navy SEALs vessels to some of the world's most luxurious super-yachts," according to Roberts.
The company now takes in about $7.8 million in revenue a year, said Roberts, but expects that to grow to $20 million once the overhaul is completed by year's end. With a staff of 34, the boatyard services more than 400 boats a year.
Considered San Diego's largest boatyard, it covers more than 1 million square feet of land and water.
"Mega-yachts are expanding by leaps and bounds," said Art Engel. "There is no great service facility on the West.Coast. We will be that facility...
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