MJM Yachts announced that it was acquired by Saothair Capital Partners, a private equity firm specializing in middle-market manufacturing and industrial companies. The deal, which was run through Saothair affiliate Seolta Holdings, includes the MJM business and its assets.
“With its rich history, and outstanding reputation for quality, performance and design, MJM has established itself as a leading producer of luxury yachts,” Kevin Madden, co-founder and managing partner of Saothair, said in a statement. “We are committed to providing the necessary investment to further grow MJM’s prominence in the industry.”
Peter Johnstone, who has led MJM since 2019, was appointed as president and chief executive officer of Seolta Holdings.
Richard Lozyniak, co-founder and operating partner of Saothair, added in the statement: “Our investment, together with Peter and the entire team, will provide the company with the capital required to expand the business and solidify the MJM brand aggressively.”
