Advertisement

Sparkman & Stephens Has New Ownership

The Sparkman & Stephens naval architecture and brokerage firm has new ownership.

October 8, 2016
Sparkman & Stephens
Sparkman & Stephens has been in operation since 1929. Courtesy Sparkman & Stephens

A group of private investors led by Brooke S. Parish and John B. Reuter has taken ownership of Sparkman & Stephens, the renowned naval architecture and brokerage firm founded by Olin Stephens and Drake Sparkman in 1929.

The acquisition is intended to help Sparkman & Stephens expand. Further financial details about the deal were not announced.

“We feel a tremendous sense of pride and responsibility to assume stewardship of a brand and a company whose legacy in American yachting cannot be overstated,” Parish, the new chairman of Sparkman & Stephens, stated in a press release. “We intend to put significant effort and capital into building both the design and brokerage businesses.”

Advertisement

Parish is an asset management professional in New York who owns Mermaid, a 1957 Sparkman & Stephens ketch originally built for Austin Goodyear. Reuter, who is now the CEO of Sparkman & Stephens, is an entrepreneur and private equity investor who has been involved with yachts for nearly 20 years.

A steady hand at the drafting table: Chief Designer Brendan Abbott will continue to lead the Sparkman & Stephens design studio in Newport, Rhode Island.

Advertisement

More Yachts

Advertisement
Advertisement