Kadey-Krogen Acquires American Tugs
By Craig Ritchie
US trawler manufacturer acquires coastal cruiser builder to strengthen model mix, distribution network.
Florida, US-based boatbuilder Kadey-Krogen Group, manufacturer of the Krogen trawler and Summit Motoryachts performance cruiser brands, announced early on Friday that it has acquired LaConner, Washington-based American Tugs.
Established in 1999, American Tugs builds five models ranging from 36ft-48ft in length from its 28,000ft² production facility in the US Pacific Northwest. The company has delivered more than 250 cruising boats to customers across North America and in Europe.
“It’s really an exciting opportunity for us to acquire such a successful boatbuilder, led by a team that we’ll be collaborating with on day one,” says Kadey-Krogen Group president, Tucker West. “They have a healthy backorder of boats, a great reputation in this market, and most importantly a customer base that really loves their American Tugs.
“We immediately identified how our companies will complement each other and, most importantly, how the customers will benefit. This includes expanded distribution for American Tugs through Kadey-Krogen’s sales offices. We are also working with American Tugs leadership to expand service and refit offerings for Krogen and Summit customers at their LaConner facility and leverage their west coast sales.”
The acquisition will not affect production of either the American Tugs, Krogen, or Summit brands, says West, which will continue to be marketed separately reflecting key points of differentiation. “We are certainly looking at ways of combining forces on the production side where it makes sense,” said Kadey-Krogen Group production manager, Fran Morey. “Initially we see opportunities through purchasing, and even on tooling on new models.”
American Tugs co-founder and CEO, Kurt Dilworth, remains in position, along with sales manager Jeff Calvert. “This is an incredible opportunity to complete the marriage of two companies that strive to be best in class and together have more than 71 years of boatbuilding experience,” says Dilworth.
Founded by Art Kadey and Jim Krogen in 1976, Kadey-Krogen Yachts currently builds Krogen-branded yachts to 60ft, along with its Summit Motoryachts series of performance cruising yachts.