Grand Banks Yachts

What Grand Banks Yachts does

Grand Banks Yachts Limited is a publicly traded (Singapore Exchange: GBY:SP) designer and manufacturer of luxury motor yachts, founded in 1965 and headquartered in Stuart, Florida, with manufacturing concentrated at a vertically integrated composite facility in Pasir Gudang, Malaysia. The company produces yachts ranging from 42 to 107 feet across three brands: the Grand Banks Long Range Cruiser series (GB54 through GB85), the Eastbay Downeaster series (EB44, EB60), and, through wholly-owned subsidiary Palm Beach Motor Yachts, the PB42 through PB70 performance line. Its core differentiator is V-Warp Technology®, a proprietary hull design and construction methodology that fuses an advanced hydrodynamic form, vinylester resin construction, and carbon fiber-reinforced hull, bulkheads, deck, and superstructure into a single integrated structure, delivering measurable performance outcomes such as 33-knot top speed and 825+ nautical-mile range at 10 knots on the GB54.

The company serves high-net-worth individual buyers globally through a factory-direct sales model, with owned offices in twelve cities across the United States, Australia, Malaysia, the Netherlands, Italy, and the United Kingdom, and event presence at premier boat shows including Newport, Palm Beach, Sanctuary Cove, Auckland, and (from 2025) Genoa. Revenue is generated primarily through one-time new yacht sales, supplemented by factory-direct pre-owned sales with a 12-month structural warranty, and a recurring service, maintenance, and parts operation supporting the installed base. Distribution is fully direct—no dealer intermediation—with a recently launched Owners Club at the Newport, Rhode Island waterfront adding a post-sale ecosystem of slips, dining, accommodations, and factory-direct service.

Strategic direction is led by CEO and Chief Designer Mark Richards, an elite ocean racing champion whose nine line-honors in the Rolex Sydney Hobart Yacht Race and America's Cup experience directly inform product design. The company is investing aggressively in vertical integration (a nine-figure composite manufacturing facility opened in March 2025), customer experience (acquisition of Casey's Marina in Newport in June 2025), and brand visibility (acquisition and relaunch of the racing yacht Wild Oats XI as Palm Beach XI in late 2025). Approximately 1,000+ skilled employees support production, and the company is recognized as the 2025 Southern Boating Magazine Readers' Choice Award winner for Favorite Trawler.

Name

Grand Banks Yachts

Legal name

Grand Banks Yachts Limited

Website

https://grandbanks.com

Company type

Public

Founded year

1965

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Grand Banks Yachts Limited (SGX: GBY:SP) designs and builds luxury 42–107 foot motor yachts under the Grand Banks, Eastbay, and Palm Beach Motor Yachts brands using proprietary V-Warp Technology®, selling factory-direct to high-net-worth buyers across the US, Australia, Asia, and Europe.

Ownership category

akta.pro rank

Product category

Luxury Motor Yachts

NAICS

Boat Building (336612), Ship and Boat Building (3366), Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Luxury Motor Yacht Manufacturing (IMAJAMAD)

akta.pro secondary industries

Semi-Custom & Series Production Yacht Manufacturing (IMAJAEAM), Semi-Custom Luxury Yacht Manufacturing (IMAJAMAA), Luxury Yacht Manufacturing (IMAJAEAE)

Keywords

• Luxury motor yachts
• Long range cruisers
• Downeast yachts
• Yacht manufacturing
• Factory direct sales

Headquarters

HQ city

Stuart

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. New Yacht Sales: Sale of new luxury motor yachts including Grand Banks Long Range Cruiser series (GB54-GB85) and Eastbay Downeast series. Custom builds and bespoke yacht construction for discerning buyers.
2. Pre-Owned Yacht Sales: Factory-direct pre-owned yacht sales through dedicated pre-owned division, offering certified pre-owned vehicles with 12-month structural warranty.
3. Service and Maintenance: Comprehensive service, maintenance, parts, and warranty services for Grand Banks and Eastbay yachts, including factory-certified technicians and authorized service locations.
4. Factory Direct Sales Support: Direct sales consultation from global offices, providing expert advice, model guidance, and commissioning support throughout the ownership journey.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Grand Banks Yachts designs, manufactures, and sells luxury motor yachts ranging from 42 to 107 feet, including its Long Range Cruiser series (GB54 through GB85), the Eastbay Downeaster Series (EB44, EB60), and Palm Beach Motor Yachts models. The company operates a factory-direct sales model with offices worldwide and supports owners through service, parts, warranty, and a pre-owned division offering certified yachts with 12-month structural warranty.

Differentiator

Problem solved

Functional benefit

Brands

• V-Warp Technology: Proprietary hull design and construction methodology combining advanced hydrodynamics, lightweight carbon fibre construction, and integrated build process that fuses hull, bulkheads, deck, and superstructure into a single structure.

Products and services

• Grand Banks 85 (GB85) Long Range Cruiser

Quantifiable outcome

• 33 knots top speed on Grand Banks 54
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Wild Oats XI / Palm Beach XIflagshipStrategic or Co-development Partner · 24 October 2025Palm Beach Motor Yachts, a subsidiary of Grand Banks Yachts Ltd., acquired the legendary offshore racing yacht Wild Oats XI and relaunched it as Palm Beach XI for the 80th Rolex Sydney Hobart Yacht Race. The yacht serves as a symbol of the company's focus on technology, innovation, and performance, enhancing its global presence and reputation.

Scale indicators12 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Nordhavn: Long-range trawler and passagemaker yacht builder directly named as a finalist against Grand Banks in the 2025 Southern Boating Readers' Choice Awards; competes for the same long-range cruising HNW buyer with similar size ranges and ocean-crossing capability.
• Outer Reef Yachts: Long-range motor yacht builder in the same trawler/long-range cruiser category as Grand Banks, also explicitly named as a Southern Boating 2025 Readers' Choice finalist; comparable size, customer profile, and passagemaker positioning.
• Hinckley Yachts: US-based builder of luxury motor yachts and jet boats serving a comparable HNW coastal cruising clientele; overlaps with Grand Banks on downeast-style and luxury cruising segments and competes for similar factory-direct buyers.
• Sabre Yachts: Semi-custom luxury motor yacht and downeast-style boat builder using advanced composites; competes directly with Grand Banks Eastbay series on style, size, and American luxury cruising buyers.
• Back Cove Yachts: Downeast-style cruising yacht builder in similar size classes to Grand Banks Eastbay series; serves the same coastal-cruising luxury buyer and is part of the same Sabre/Back Cove ownership group.
• Hatteras Yachts: Established American luxury motor yacht builder with convertible and long-range cruising models in size classes directly overlapping Grand Banks' GB54-GB85 range; targets similar HNW American buyers.
• Kadey-Krogen Yachts: Long-range trawler and passagemaker yacht builder targeting HNW buyers prioritising ocean-crossing capability and liveaboard comfort; direct competitor in the same trawler cruiser segment that Grand Banks pioneered.
• Marlow Yachts: Semi-custom long-range motor yacht builder producing explorer-style yachts in comparable length ranges to Grand Banks; serves the same premium passagemaker customer with similar fuel-efficiency and cruising range promises.

Broad incumbents

• Azimut Yachts: Large global luxury motor yacht manufacturer with broad product portfolio overlapping Grand Banks' size and price bands; not a trawler specialist but a significant competitive presence in the HNW motor yacht category.
• Princess Yachts: Established British luxury motor yacht builder with flybridge and motor yacht ranges in similar size classes to Grand Banks; competes for the same global HNW cruising buyer from a much larger production base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/grandbanks
• LinkedInlinkedin.com/company/grand-banks-yachts

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grand Banks Yachts