New England Boatworks in Portsmouth sold

Safe Harbor Marinas adds the 360-slip facility to its network of marinas

Posted 5/9/19

PORTSMOUTH —  New England Boatworks at 1 Lagoon Road has been sold to Safe Harbor Marinas, LLC, which is adding it to its portfolio of 80 facilities across the country.

The new …

This item is available in full to subscribers.

Please log in to continue

Log in

Not a subscriber?


Start a Subscription

Sign up to start a subscription today! Click here to see your options.

Purchase a day pass

Purchase 24 hours of website access for $2. Click here to continue

Day pass subscribers

Are you a day pass subscriber who needs to log in? Click here to continue.


New England Boatworks in Portsmouth sold

Safe Harbor Marinas adds the 360-slip facility to its network of marinas

Posted

NOTE: THis story was updated on May 29, 2019, to reflect the purchase price for the sale.

PORTSMOUTH —  New England Boatworks at 1 Lagoon Road has been sold to Safe Harbor Marinas, LLC, which is adding it to its portfolio of 80 facilities across the country, for $27 million.

The new acquisition is part of the company's continuing effort to grow and diversify its nationwide network. Safe Harbor Marinas claims to be the largest and most geographically diversified owner and operator of marinas in North America. 

"We're incredibly fortunate to add New England Boatworks (NEB) to our network of marinas," Jason Hogg, senior vice president of investments for Safe Harbor Marinas, said in a prepared statement.

"We already had a robust presence in Narragansett Bay with five locations; NEB gives us a sixth,” he said. “NEB is one of the most renowned boatyards in the country, and it will be a cornerstone for our boaters in Narragansett Bay. We're also very excited about growth projects already permitted and expansion opportunities we intend to pursue at this unique property."

New England Boatworks offers more than 360 deep-water slips and is known for expertise in the construction of custom, state-of-the-art sail and power yachts. With the addition of New England Boatworks, Safe Harbor Marinas now owns and operates 80 marinas in 18 states.

For more information about Safe Harbor, visit SHMarinas.com.

Started with 12-Meters

According to its website, NEB found its roots in building 12-Meters and the 1983 America's Cup. Future partners Tom Rich, Steve Casella and David MacBain began building racing yachts, including Dennis Conners' 12-Meter, Liberty, while working at other outfits in Rhode Island and New York.

They started NEB in 1988 after finding success applying their specialty of metalwork (aluminum, stainless steel, titanium) to a variety of yachts, from IOR and IMS racers to fully-found cruising boats.

The demand for NEB boats found the company expanding from their rented facilities to ownership of East Passage Yachting Center, adding a full-service marina and haul-out yard to the marina’s capabilities.

‘Clean Marina’

Two years ago, New England Boatworks was recognized as being Rhode Island’s largest “Clean Marina.” The designation originated from an voluntary initiative coordinated by the R.I. Coastal Resources Management Council that recognizes marinas that go beyond regulatory requirements by applying innovative, pollution-prevention practices to their daily operations. 

NEB was one of only five Rhode Island marinas to earn the designation and the first on Aquidneck Island. To be designated as a “Clean Marina,” the business must comply with all applicable regulatory requirements and adopt mandatory best management practices. 

The lengthy checklist includes things such as a stormwater pollution prevention plan, procedures for dealing with oil spills, educating boaters on solid and liquid waste recycling, having absorbent materials available for boat maintenance, using phosphate-free and biodegradable detergents, offering affordable and convenient pump-out facilities, and more.

2020 by East Bay Newspapers

Barrington · Bristol · East Providence · Little Compton · Portsmouth · Tiverton · Warren · Westport
Meet our staff
Jim McGaw

A lifelong Portsmouth resident, Jim graduated from Portsmouth High School in 1982 and earned a journalism degree from the University of Rhode Island in 1986. He's worked two different stints at East Bay Newspapers, for a total of 18 years with the company so far. When not running all over town bringing you the news from Portsmouth, Jim listens to lots and lots and lots of music, watches obscure silent films from the '20s and usually has three books going at once. He also loves to cook crazy New Orleans dishes for his wife of 25 years, Michelle, and their two sons, Jake and Max.