Local waters April 2012
Wednesday, June 27, 2012 at 04:22PM Marina owner buys Post Yachts
Chestertown, Md.
When the principals of sportfisherman builder Post Yachts, of Mays Landing, N.J., filed for Chapter 7 bankruptcy a year ago, it looked as if the brand was to be consigned to history. But John Patnovic, owner of Worton Creek Marina and Boatyard in Chestertown, Md., and his family formed Post Marine Group and acquired the assets of Post Marine Co., vowing to build the full Post range at his facility in Chestertown. Terms of the deal weren’t disclosed.
“Post Yachts are wonderful boats with a rich heritage of excellence and success dating back to 1957,” Patnovic says. “The people at Post are extremely well-regarded for their honesty, integrity and the immense pride that they put into the boats they built. When presented with the opportunity to purchase the assets of the company, we grabbed it.”
Patnovic says the company “will maintain Post’s proven approach to boatbuilding and continue to build yachts of quality, not quantity.” Former Post president Ken Jensen was retained as a consultant.
Post Yachts was founded by Russell Post, who had previously co-founded the original Egg Harbor Yacht Co.