Novis -- Being Taken Over? - SailNet Community

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  #1  
Old 11-28-2008
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Novis -- Being Taken Over?

From the Ashtabula Star Beacon, Nov. 10, 2008:

Quote:
Moments later, council heard from Charles Rowe Jr. of IRG Capital Group of Wadsworth. Rowe said he represents investors poised to acquire Tartan Yacht, which operates the Novis Marine business in Conneaut, and a Rhode Island boat-building business.

The group plans to bring the Rhode Island business and its 100 jobs to a site in Ohio. Conneaut is a strong contender, given the experience of the Novis workers, but a pending foreclosure action brought by the city "clouds the future" of the Novis building, Rowe said.
Quote:
Council was cordial but cautious. Ward 3 Councilman Greg Mooney said the city needs assurances the investors behind the plan aren't the same people involved in Broad and Jackson.
Quote:
The investors would like to move on the Rhode Island/Tartan takeover by the end of the year, Rowe said.
Takeover?
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Old 11-28-2008
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Quote:
...and a Rhode Island boat-building business.... the Rhode Island business and its 100 jobs...
Novis/Tartan/C&C doesn't appear to build boats in Rhode Island.

The only builder that size seems to be Pearson Composites, builders of Alerion Express, True North, PDQ and J Boat brands.

That doesn't sound good, either.
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Old 11-28-2008
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Legacy Yachts - They have closed the doors but at one point they were going to be purchased or merge by Tartan
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