New buyer revives Catalina Yachts

Catalina Yachts, which was seeking to sell assets at auction on June 9, is being resurrected by C & T Composites, a Florida-based marine manufacturing and composite company. Along with the True North Yachts brand, the plan is to restart manufacturing, introduce new models, and develop a new American-built adventure boat line for the next generation of boaters.

Boat building entrepreneur Michael Reardon purchased Catalina and True North Yachts in May 2025 but soon thereafter was missing payroll and reneging on his purchase agreement.

Patrick Turner, who was Catalina Yachts President at the time, released a statement in October 2025 reporting that manufacturing had stopped, and it was later learned that the new owner of Catalina Yachts had been evicted from its manufacturing plant in Largo, Florida.

With production staying in Largo, Turner has rebounded with C & T Composites, a company he leads as CEO alongside Member John Chen, who brings extensive experience in multi-hull development, and Board Member Hiten Sonpal (iRobot & Rice Robotics), whose guidance will be instrumental in the company’s strategic growth and profitability.

As part of this revitalization, former designers and engineers will be returning to assist with designs and developments. Their involvement will support C & T Composites’ goal of honoring the heritage of Catalina and True North while developing fresh, modern designs for today’s boating market.

In addition to revitalizing Catalina and True North, C & T Composites will launch Xplor Yachts, a new adventure boat brand designed for today’s active boaters — combining performance, versatility, comfort, and American craftsmanship.

“We are honored to have the opportunity to carry these brands forward,” said Turner. “Catalina and True North have earned tremendous respect over many years, and our goal is to preserve that legacy while bringing back experienced people who know these boats, adding new talent, and building the next generation of Catalina and True North boats right here in America.

“John and I also see a strong opportunity to create a new adventure boat brand, which reflects where the market is headed.”

C & T Composites plans to reconnect with existing dealers, owners, vendors, and industry partners as operations resume. Additional announcements regarding production schedules, model plans, the Adventure Boat program, dealer programs, team member opportunities, and customer support initiatives will be released in the coming months.