The Kadey-Krogen Group, builder of Krogen trawlers and the performance cruising brand Summit Motoryachts, has acquired American Tugs.
American Tugs was founded in 1999 by marine industry veterans who recognized the need for high-quality, U.S.-built coastal cruisers. Today, American Tugs builds five models ranging from 36 to 48 feet, and has delivered more than 250 cruising boats to date, as well as five commercial vessels.
“It’s really an exciting opportunity for us to acquire such a successful boat builder, led by a team that we’ll be collaborating with on day one,” says Tucker West, Kadey-Krogen Group president. “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.
The company will explore sales in the Great Lakes region through its existing relationship with yacht broker Schwartz & Co. Yacht Sales. The acquisition will not affect the production of either the American Tugs, Krogen or Summit brands, and The Kadey-Krogen Group plans to continue to market each brand separately.
More information can be found at kadeykrogen.com and americantugs.com.
