Catalina Yachts owner evicted from factory

When Catalina Yachts President Patrick Turner released a statement to explain how the company had initiated a temporary production pause, he omitted some facts. Here’s an update from Peter Swanson in Loose Cannon on October 24, 2025:

A Florida court last week evicted the new owner of Catalina Yachts from its manufacturing plant in Largo.

Documents filed in that lawsuit allege that Michael Alexander Reardon, who bought up Catalina’s assets in May, had begun reneging on his purchase agreement almost immediately thereafter.

(For the purposes of clarity, the boatbuilder in question will be referred to as Florida Catalina, while the former owner of the company, Catalina Yachts, will be called California Catalina.)

Florida Catalina had been leasing the Largo plant from California Catalina. Florida Catalina stopped making monthly rent after the first payment. By falling behind on rent, Reardon defaulted on an “asset purchase agreement” with California Catalina, causing the $1 million deferred purchase price to come due immediately. – Full report