Saothair Capital Partners, a Radnor, PA-based private equity firm, acquired business and assets of MJM Yachts (Washington, NC) through Seolta Holdings, LLC, a newly-formed affiliate.
The amount of the deal was not disclosed.
Founded in 2002 by Robert Johnstone and based in Washington, North Carolina, MJM is a designer and builder of Carolina Downeast-style luxury yachts by using advanced composites to build lighter, and faster boats with an enhanced rider experience.
Co-founded by Kevin Madden and Richard Lozyniak, Saothair is a private investment firm focused exclusively on investing in middle-market manufacturing and industrial businesses facing financial or operational challenges. It makes controlling equity investments in companies across various industries, including paper & packaging, plastics, metals processing, automotive, building products, healthcare-related products, food & beverage, and other manufacturing.
FinSMEs
01/09/2023