Merritt's Boat & Engine Works

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).

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

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

• Custom sportfishing yachts
• Yacht brokerage services
• Marine boatyard services
• Marine insurance
• Wholesale marine supply

Headquarters

HQ city

Pompano Beach

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. 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.
2. 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.
3. Boatyard Services: Full-service boatyard providing repair, mechanical, paint, and maintenance services. Located on the Intracoastal Waterway, offering haul-out and comprehensive marine services.
4. 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.
5. Smith-Merritt Insurance: Marine insurance firm specializing in sportfishing boats of all sizes, providing coverage options to the yacht market they serve.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core 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

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Florida Yacht Brokers Association (FYBA)minorStrategic or Co-development Partner · 20 March 2011Merritt'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)minorStrategic or Co-development Partner · 20 March 2011Collaborated 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.
• FreemancoreStrategic or Co-development PartnerFreeman 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 SupplycoreOthersWholesale 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 InsurancecoreOthersMarine 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

Direct 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

• YouTubeyoutube.com/watch?v=iQwPZ9z7bf8
• Facebookfacebook.com/MerrittsBoatandEngineWorks

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

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 Merritt's Boat & Engine Works