Merritt's Boat & Engine Works
Merritt's Boat & Engine Works is a family-owned Pompano Beach shipyard that designs and builds custom 37-86 foot sportfishing yachts (priced $6M-$9M) using advanced composites, and runs a vertically integrated stack encompassing boatyard service, yacht brokerage, marine insurance (Smith-Merritt), and wholesale supply (Merritt Supply) for UHNW sportfishing clients.
- Company typePrivate
- Founded1948
- HeadquartersPompano Beach, United States
- Headcount101–250
- GTM typeB2C
- OfferingHardware or Manufacturing
What Merritt's Boat & Engine Works does
Merritt's Boat & Engine Works is a family-owned shipyard founded in 1948 in Pompano Beach, Florida, that has been building custom sportfishing yachts since 1955. Its core product is a line of custom-built sportfishing vessels ranging from 37 to 86 feet, priced at approximately $6 million for a 72-footer and approximately $9 million for an 86-footer, constructed using advanced composite techniques including carbon fiber reinforcement, high-density foam coring, and molded construction, and powered by engines such as DDC-MTU 2000 series diesels with sequential turbocharging. The company has produced over 100 hulls cumulatively and is best known for its 43-foot model (only 12 ever built) which holds more tuna-fishing records than any boat in history.
Merritt operates under a "cradle-to-grave" philosophy that vertically integrates the entire ownership lifecycle. Beyond new builds, the company runs a full-service boatyard on the Intracoastal Waterway offering repair, mechanical, and paint services; an in-house yacht brokerage handling both Merritt and other-brand vessels; a wholesale marine supply subsidiary (Merritt Supply) with facilities in Pompano Beach and West Palm Beach serving marine, aviation, and specialty manufacturing sectors globally; and a marine insurance firm (Smith-Merritt Insurance) specializing in sportfishing coverage. It also maintains a co-development partnership with Freeman Boat Works for a 42-foot model and operates an online Ship Store for merchandise.
The company generates revenue through one-time new-build sales, brokerage commissions on used vessels (ranging from ~$254,900 to ~$8,950,000), service and refit fees, wholesale hardware sales, and insurance premiums. Its go-to-market is relationship-driven and sales-led, targeting ultra-high-net-worth sportfishing enthusiasts primarily through major boat shows (Palm Beach International Boat Show, Fort Lauderdale International Boat Show), in-water open houses at the Pompano Beach facility, and word-of-mouth within the tight-knit sportfishing community. The buyer base consists of individual high-net-worth owners and repeat clients, exemplified by vessels like the 86-foot BREE (the owner's fourth Merritt).
Merritt's Boat & Engine Works firmographics
Firmographics- Name
- Merritt's Boat & Engine Works
- Legal name
- Merritt's Boat & Engine Works
- Website
- https://merrittboat.com
- Company type
- Private
- Founded year
- 1948
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Merritt's Boat & Engine Works is a family-owned Pompano Beach shipyard that designs and builds custom 37-86 foot sportfishing yachts (priced $6M-$9M) using advanced composites, and runs a vertically integrated stack encompassing boatyard service, yacht brokerage, marine insurance (Smith-Merritt), and wholesale supply (Merritt Supply) for UHNW sportfishing clients.
- Ownership category
- akta.pro rank
Merritt's Boat & Engine Works industry classification
Industry- Product category
- Custom Sportfishing Yacht Manufacturing
- NAICS
- Ship Building and Repairing (336611), Boat Building (336612)
- SIC
- Ship & Boat Building & Repairing (3730)
- akta.pro primary industry
- Explorer Yacht Manufacturing (IMAJAMAE)
- akta.pro secondary industry
- Semi-Custom & Series Production Yacht Manufacturing (IMAJAEAM)
Keywords
Where Merritt's Boat & Engine Works is headquartered
LocationHeadquarters
- HQ city
- Pompano Beach
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Merritt's Boat & Engine Works business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales
Revenue model
- Custom Boat Manufacturing: Design and construction of custom sportfishing yachts ranging from 30+ feet to 86+ feet. New 72-footers cost approximately $6 million; 86-footers approximately $9 million. This is the primary revenue driver representing the company's core competency.
- Yacht Brokerage: Full-service yacht brokerage with experienced brokers assisting in purchase or sale of vessels. They handle both Merritt boats and other brands, earning commissions on transactions.
- Boatyard Services: Full-service boatyard providing repair, mechanical, paint, and maintenance services. Located on the Intracoastal Waterway, offering haul-out and comprehensive marine services.
- Merritt Supply: Wholesale marine supply company with fully stocked facilities in Pompano Beach and West Palm Beach, serving marine, aviation, and specialty manufacturing sectors globally.
- Smith-Merritt Insurance: Marine insurance firm specializing in sportfishing boats of all sizes, providing coverage options to the yacht market they serve.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Multi-year contract | 86-foot Custom Sportfisherman |
| One time/ perpetual license | Multi-year contract | 72-foot Custom Sportfisherman |
| Transaction based/ take rate | Pay-as-you-go | Brokerage Vessels (Used) |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
Merritt's Boat & Engine Works product offering
Product offeringCore offering
Merritt's Boat & Engine Works designs and builds custom sportfishing yachts ranging from 37 to 86 feet using advanced composite construction with carbon fiber reinforcement. The company operates a vertically integrated marine business on the Intracoastal Waterway in Pompano Beach, offering custom boat construction, full-service boatyard repair and refit, yacht brokerage, wholesale marine supply (Merritt Supply), and marine insurance (Smith-Merritt Insurance) under a cradle-to-grave ownership philosophy.
Product overview
Merritt's Boat & Engine Works is a vertically integrated boat building and service company offering custom sportfishing boats and yachts (37' to 86'), full-service boatyard capabilities (repair, mechanical, paint), yacht brokerage, marine supply (Merritt Supply), and marine insurance (Smith-Merritt Insurance). The company follows a cradle-to-grave philosophy, designing and building boats, providing insurance and service, and facilitating sales through their brokerage. Their Ship Store provides retail merchandise. The core offering centers on high-quality custom sportfishing vessels built with advanced composite technology.
Differentiator
Problem solved
Functional benefit
Brands
- Merritt Supply: Wholesale marine supply company with facilities in Pompano Beach and West Palm Beach, serving marine, aviation, and specialty manufacturing sectors worldwide
- Smith-Merritt Insurance
Products and services
- Custom Sportfishing Boats & Yachts Custom-built sportfishing yachts ranging from 37 to 86 feet featuring advanced composite construction with carbon fiber reinforcement, high-density foam coring, and DDC-MTU 2000 series engines. Built for ultra-high-net-worth sportfishing enthusiasts for deep-sea fishing, tournament fishing, and long-range expeditions. New 72-foot builds cost approximately $6 million and 86-foot builds approximately $9 million.
- Boatyard Services Full-service boatyard located on the Intracoastal Waterway in Pompano Beach offering repair, mechanical, paint, haul-out, fiberglass, electrical, carpentry, welding/fabrication, and maintenance services for sportfishing vessels and other marine craft. Includes marine travel lift operations and specialized marine trades.
- Yacht Brokerage Full-service yacht brokerage with knowledgeable agents experienced in custom, production, and Merritt boats. Brokers are experienced boaters, captains, and crewmen who assist clients with purchase or sale of vessels, handling both Merritt boats and other brands on a commission basis. Brokerage listings range from approximately $254,900 to $8,950,000.
- Merritt Supply Wholesale marine supply company with fully stocked facilities in Pompano Beach and West Palm Beach, serving the marine, aviation, and specialty manufacturing sectors worldwide. Operates as a wholly-owned subsidiary of Merritt's Boat & Engine Works.
- Smith-Merritt Insurance Marine insurance firm based at the Merritt's boatyard, specializing in marine insurance for sportfishing boats of all sizes and the broader sportfishing boat marketplace. Operates as a wholly-owned subsidiary of Merritt's Boat & Engine Works.
- Ship Store (Online Retail) Online merchandise store accessible at shop.merrittboat.com, selling boat-related products, supplies, and branded merchandise to marine customers.
Quantifiable outcome
- The 43-foot Merritt established more tuna-fishing records than any boat in history
- +4 more outcomes
Companies that use Merritt's Boat & Engine Works
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
Merritt's Boat & Engine Works technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Merritt's Boat & Engine Works partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Florida Yacht Brokers Association (FYBA)minorMerritt's participated in the lobbying effort for the Florida Boat Sales-Use Tax Cap legislation, working alongside FYBA and the Marine Industries Association of South Florida (MIASF) to advocate for favorable tax treatment for boat purchases in Florida.
- Marine Industries Association of South Florida (MIASF)minorCollaborated on lobbying efforts for the Florida Boat Sales-Use Tax Cap legislation, supporting the marine industry in South Florida through advocacy for favorable business conditions.
- FreemancoreFreeman Boat Works collaborates with Merritt on custom builds, including the Freeman/Merritt 42' model. These boats are featured in Merritt's videos and listings, representing a co-branded product combining both yards' expertise. Jimmy Buffett's Freeman/Merritt build is one notable example of this partnership.
- Merritt SupplycoreWholesale marine supply company with fully stocked facilities in Pompano Beach and West Palm Beach, serving the needs of the marine, aviation, and specialty manufacturing sectors throughout the world. Part of the vertically integrated Merritt organization.
- Smith-Merritt InsurancecoreMarine insurance firm based at the boatyard, remaining a leader in marine insurance for all boat sizes, specializing in the sportfishing boat marketplace. An integral part of the cradle-to-grave philosophy.
Scale indicators5 records
Recent moves4 records
Expansion highlights5 records
Merritt's Boat & Engine Works competitors and assessment
Company assessmentDirect peers
- Viking Yachts: The largest U.S. sportfishing yacht builder, producing semi-custom convertibles and enclosed bridge yachts from 38 to 92 feet. Directly competes with Merritt in the same custom/semi-custom sportfishing segment for the same UHNWI tournament-fishing customer base.
- Bertram Yachts: Historic American sportfishing yacht brand known for deep-V hull convertibles and enclosed bridge yachts. Competes with Merritt for serious big-game fishing customers seeking custom and semi-custom sportfish vessels.
- Rybovich: Palm Beach-based luxury sportfishing yacht builder and refit specialist with deep heritage in the South Florida tournament scene. Directly comparable to Merritt on geography, customer base, custom build methodology, and full-service boatyard operations.
- Paul Mann Custom Boats: North Carolina custom sportfishing boat builder producing cold-molded, semi-custom convertibles for serious tournament anglers. Closely comparable to Merritt on build philosophy, customer profile, and low-volume premium pricing.
- Hatteras Yachts: Iconic American sportfishing and motor yacht builder with a long heritage of convertible and enclosed bridge boats. Competes head-to-head with Merritt in the custom and semi-custom sportfishing market, particularly in the 60-90 foot range.
- Bayliss Boatworks: Boutique Wanchese, NC-based custom sportfishing yacht builder focused on tournament-grade hulls in the 50-90 foot range. Comparable to Merritt as a small-volume, high-quality custom yard serving UHNWI sportfishing enthusiasts.
- Buddy Davis Sportfishing Yachts: Palm Beach-based custom sportfishing yacht builder with a heritage name in the sportfishing community. Directly comparable to Merritt in targeting big-game tournament customers with custom, low-volume builds.
- Jarrett Bay Boatworks: North Carolina custom sportfishing yard combining new builds with a full-service boatyard, fuel dock, and brokerage — a vertically integrated model paralleling Merritt's cradle-to-grave approach in the same UHNWI segment.
- Weaver Boatworks: High-end custom sportfishing yacht builder producing limited-edition tournament hulls. Comparable to Merritt on quality positioning, low production volumes, and the same UHNWI sportfishing buyer.
Emerging players
- Garlington Landeweer Yachts: Boutique custom sportfishing builder focused on cold-molded, high-performance hulls for serious tournament anglers. Smaller and newer than Merritt but targets the same customer segment with similar build philosophy and premium positioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Merritt's Boat & Engine Works social profiles
Digital presenceMerritt's Boat & Engine Works financial estimates
Financial estimateRevenue estimate
Valuation estimate
Merritt's Boat & Engine Works leadership team
Management profileNumber of profiles
Profiles2 records
Merritt's Boat & Engine Works subsidiaries and ownership
Company hierarchySubsidiaries2 records
Merritt's Boat & Engine Works funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Merritt's Boat & Engine Works M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Merritt's Boat & Engine Works
What does Merritt's Boat & Engine Works do?
Merritt's Boat & Engine Works designs and builds custom sportfishing yachts ranging from 37 to 86 feet using advanced composite construction with carbon fiber reinforcement. The company operates a vertically integrated marine business on the Intracoastal Waterway in Pompano Beach, offering custom boat construction, full-service boatyard repair and refit, yacht brokerage, wholesale marine supply (Merritt Supply), and marine insurance (Smith-Merritt Insurance) under a cradle-to-grave ownership philosophy.
Is Merritt's Boat & Engine Works a public or private company?
Merritt's Boat & Engine Works is a private company. It is classified as family owned and is currently operating.
When was Merritt's Boat & Engine Works founded?
Merritt's Boat & Engine Works was founded in 1948. It employs 101 to 250 people.
Where is Merritt's Boat & Engine Works based?
Merritt's Boat & Engine Works is headquartered in Pompano Beach, United States, in the North America region.
How does Merritt's Boat & Engine Works make money?
Five revenue lines are on record. Custom Boat Manufacturing is the primary driver. The others are yacht Brokerage, boatyard Services, merritt Supply and smith-Merritt Insurance.
Who are Merritt's Boat & Engine Works's main competitors?
Direct peers on record are Viking Yachts, Bertram Yachts, Rybovich, Paul Mann Custom Boats, Hatteras Yachts, Bayliss Boatworks, Buddy Davis Sportfishing Yachts, Jarrett Bay Boatworks and Weaver Boatworks. Garlington Landeweer Yachts is listed as an emerging player.
Does Merritt's Boat & Engine Works have an API?
No public API is recorded for Merritt's Boat & Engine Works.
What industry is Merritt's Boat & Engine Works in?
Merritt's Boat & Engine Works's product category is Custom Sportfishing Yacht Manufacturing. Its primary akta.pro industry code is IMAJAMAE, Explorer Yacht Manufacturing, with a secondary code of IMAJAEAM, Semi-Custom & Series Production Yacht Manufacturing. Its NAICS code is 336611 and its SIC code is 3730.