Galati Yacht Sales announced the transfer of beneficial company ownership to its employees through an employee stock ownership plan. The transition secures the company’s legacy while empowering employees with shared ownership of the firm.
“For more than 55 years, our family and dedicated employees have built Galati Yacht Sales into the powerhouse it is today,” company president Joe Galati said in a statement. “Establishing an ESOP is the natural next step to ensure future success. Our leadership team, management structure, and the way we work today stay the same. Our focus on teamwork, innovation and customer support continues as always.”
The firm operates 14 locations across Florida, Alabama, Texas, California, Mexico and Costa Rica, including four service yards. Galati is now one of the largest employee-owned yacht dealerships in the world.
