Portland Boat Works Inc

What Portland Boat Works Inc does

Portland Boat Works Inc is a privately held marine services company and authorized Tiara Yachts dealer headquartered at 1 Grove Street on the Connecticut River in Portland, Connecticut. Founded approximately 60 years ago, the company operates a full-service yacht center offering new luxury yacht sales (Tiara EX and LS series, 34' to 60'), a 40-slip marina with seasonal rental, and over 100,000 sq ft of indoor winter storage. It complements these physical assets with a 60-ton marine travel lift, factory-certified technicians trained on Volvo Penta, Crusader, Mercury, Garmin, and Raymarine systems, and a complete service and restoration capability including fiberglass repair, engine maintenance, electronics installation, carpentry, and winterization.

The business generates revenue through six streams: one-time new and used boat sales, recurring seasonal storage and marina slip subscriptions, professional service and maintenance contracts, winterization packages, and transaction-based financing arranged through 10 lender partners plus insurance and extended warranty products. Go-to-market is regional, anchored in Southern New England and the Long Island Sound corridor, relying on direct sales from the marina/showroom, a digital showroom website, and customer referrals.

Since 2022, Portland Boat Works has operated under Cusson Family ownership alongside affiliated entities Atlantic Outboard (Connecticut's largest boat dealership), Westbrook Marine Center, Harbor One Marina in Old Saybrook, and Old Harbor Marina in Clinton, forming a multi-location regional marine services platform. Headcount is reported at 1-10 employees at the Portland Boat Works entity specifically, and the company does not disclose revenue.

Name

Portland Boat Works Inc

Legal name

Portland Boat Works Inc

Website

https://portlandboatworks.com

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

1–10 employees

Short description

Portland Boat Works is a 60-year-old authorized Tiara Yachts dealer in Portland, Connecticut, offering luxury yacht sales, 100,000+ sq ft of indoor winter storage, a 40-slip marina, and factory-certified service to HNW boaters on the Connecticut River and Long Island Sound.

Ownership category

akta.pro rank

Headquarters

HQ city

Portland, Connecticut

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. New Boat Sales: Authorized Tiara Yachts dealer selling new luxury yachts including models from 35LS to EX60. Revenue generated from direct sales of new vessels at various price points.
2. Marina Services: 40 slips on Connecticut River for seasonal rental with key access, showers, bathrooms. Revenue from slip rentals and boat launch fees.
3. Indoor/Outdoor Storage: Indoor storage in 100,000+ sq ft sheds plus outside storage and shrink-wrapping. Stores approximately 120 customer vessels. Revenue from seasonal storage contracts.
4. Service & Maintenance: Factory-certified technicians provide warranty repairs, dockside services, custom installations, restoration, fiberglass repair, engine maintenance, carpentry, and electronic installation/repair.
5. Winterization Services: Winter service and storage packages including engine winterization, system maintenance, shrink wrapping, power washing, and battery storage.
6. Financing Services: Boat financing through 10 lenders with single credit pull, Coast Guard documentation, extended warranties. Revenue from financing arrangements and warranty products.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Portland Boat Works operates as the authorized Tiara Yachts dealer for the Connecticut region, selling luxury yachts from the 34LS through the EX60. Beyond sales, the company runs a 40-slip marina on the Connecticut River, over 100,000 sq ft of indoor winter storage, factory-certified service and repair, winterization, and boat financing through multiple lenders. It is a full-service marine center supporting yacht owners from purchase through ongoing operation and off-season storage.

Product overview

Portland Boat Works is a premier Tiara Yachts dealer in Portland, Connecticut, offering a comprehensive marine services portfolio centered on luxury yacht sales, marina operations, and professional service. The company specializes in Tiara Yachts (EX and LS series ranging from 34' to 60'), provides marina facilities with 40 slips on the Connecticut River, and delivers full-service yacht maintenance including restoration, fiberglass repair, engine service, and electronic installations. Supporting services include indoor boat storage (100,000+ sq ft), winter service and storage, boat financing with multiple lender partnerships, and extended warranty programs. The company operates multiple affiliated locations including Atlantic Outboard in Westbrook, Old Harbor Marina in Clinton, and Harbor One Marina in Old Saybrook, all under Cusson Family ownership acquired in 2022.

Differentiator

Problem solved

Functional benefit

Products and services

• Tiara Yachts (New Yacht Sales) Authorized new luxury yacht sales for Tiara Yachts models including 34LS, 35LS, 39LE, 39LS, 43LE, 43LS, 46LS, 48LE, 48LS, EX54, 56LS, and EX60. Available to individual buyers seeking premium yachts for cruising on Long Island Sound and the Connecticut River.
• Digital Showroom Online virtual showroom listing Tiara Yacht models with specifications and imagery, allowing prospective buyers to browse inventory before visiting the dealership.
• Marina Services 40-slip seasonal marina on the Connecticut River with 24/7 key access, floating docks, shore power, bathroom/shower facilities, pump-out service, and boat launch access for regional boaters.
• Yacht Service and Repair Comprehensive yacht service including restoration, fiberglass repair, engine maintenance, custom installations, carpentry, electronic installation and repair, dockside services, and warranty repairs performed by factory-certified technicians.
• Winter Service and Storage Winterization packages including engine winterization, raw and fresh water system maintenance, fuel system maintenance, shrink wrapping, power washing, and battery storage for vessels stored over winter months.
• Indoor and Outdoor Boat Storage Over 100,000 sq ft of indoor storage sheds plus outside storage and shrink-wrapping, protecting approximately 120 customer vessels from UV, snow, and ice during Connecticut winters.
• Boat Financing and Insurance Boat financing through 10 lenders with single credit pull, Coast Guard documentation, extended warranties, and insurance products including Platinum Protection and Mercury/Yamaha Extended Service plans.
• New Boats Inventory Order listings for new Tiara Yachts available for configuration and purchase, covering 35LS, 39LE, 39LS, 43LS, 43LE, 46LS, 48LE, EX54, 56LS, and EX60 models.

Named customers1 record

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered flagship, core and minor.

• Atlantic OutboardflagshipStrategic or Co-development Partner · 1 January 2022Same ownership group (Cusson Family). Connecticut's largest boat dealership. Affiliated company providing additional inventory, service capacity, and brand support.
• Westbrook Marine CentercoreStrategic or Co-development Partner · 1 January 2022Affiliated location under same ownership group (Cusson Family) in Westbrook, CT.
• Harbor One MarinacoreStrategic or Co-development Partner · 1 January 2022Marina acquired by Cusson Family in 2022 along with Portland Boat Works. Located in Old Saybrook, CT.
• Tiara YachtscoreChannel Partner/ Reseller/ DistributorAuthorized Tiara Yachts dealer offering the full lineup of Tiara Yachts models including EX60, EX54, 56LS, 48LE, 48LS, 46LS, 43LE, 43LS, 39LE, 39LS, 35LS, and 34LS.
• Volvo PentacoreTechnology or IntegrationFactory-certified dealer for Volvo Penta engines. Technicians receive factory training directly from Volvo Penta. Provides authorized warranty repairs and state-of-the-art repairs using current Volvo technology.
• Crusader EnginescoreTechnology or IntegrationCrusader certified dealer with technicians trained directly from the manufacturer. Provides engine maintenance and repairs for Crusader engines.
• Mercury MarinecoreTechnology or IntegrationMercury outboard dealer. Tiara Yachts powered by Mercury Verado engines. Offers Mercury Extended Service plans for protection.
• GarmincoreTechnology or IntegrationGarmin Certified Dealer providing electronics repair, upgrades, and reconfiguration. Integrated Garmin navigation systems in Tiara Yachts.
• RaymarinecoreTechnology or IntegrationRaymarine Certified Dealer providing electronics repair, upgrades, and reconfiguration services.
• Platinum ProtectionminorGTM or Marketing PartnerThree-step treatment protecting against stains, insect damage, chalking, fading, burns, tears for five years. Offered as add-on protection for new and used boats.
• Mercury Extended ServiceminorGTM or Marketing PartnerExtended warranty and maintenance plans for Mercury engines. Can be added into financing.
• Yamaha Extended ServiceminorGTM or Marketing PartnerExtended service plans for Yamaha engines offered as part of protection packages.
• ABYC (American Boat & Yacht Council)coreTechnology or IntegrationTechnicians hold ABYC certifications for marine standards and safety.
• NMMA (National Marine Manufacturers Association)coreTechnology or IntegrationTechnicians hold NMMA certifications for marine industry standards.

Scale indicators6 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• OneWater Marine: Publicly traded multi-brand boat retailer (NASDAQ: ONEW) with over 100 locations across the U.S. Compares directly as a scaled consolidator in the recreational marine dealership space with similar sales, service, storage, and financing revenue streams.
• MarineMax: Largest publicly traded recreational boat and yacht dealer in the United States (NYSE: HZO), operating across more than 130 locations. Provides direct comparability on the multi-brand dealership and marina business model at significantly greater scale and geographic breadth.

Direct peers

• Russo Marine: Long-established family-owned boat dealership on the Connecticut River serving the same Long Island Sound and Connecticut boating market as Portland Boat Works. Direct regional competitor offering comparable new and used boat sales, service, storage, and marina services.
• Denison Yachting: Large luxury yacht brokerage and dealer network with multiple U.S. locations, also a Tiara Yachts dealer. Comparable in serving the same HNW customer segment through new yacht sales, brokerage, and ancillary services.
• Atlantic Outboard: Sister company under the same Cusson Family ownership group, operating Connecticut's largest boat dealership out of Westbrook. Offers overlapping boat sales, service, and storage offerings with broader brand portfolio, serving as both an affiliate and a comparable regional dealership model.
• Jeff Brown Yachts: Multi-location luxury yacht dealer serving the New York/New Jersey/Connecticut corridor. Comparable in targeting the same Tri-State HNW boating market with premium new yacht brands, brokerage, and service operations.
• HMY Yacht Sales: One of the largest U.S. yacht dealers with multiple Florida and mid-Atlantic locations, also an authorized Tiara Yachts dealer. Directly comparable as a competing authorized Tiara dealer at greater scale with overlapping luxury yacht, brokerage, and service offerings.
• Galati Yacht Sales: Family-owned luxury yacht dealer on the Gulf Coast, also an authorized Tiara Yachts dealer. Closely comparable as a similarly positioned, multi-generational family-run luxury yacht dealership offering sales, service, and brokerage in a defined regional market.

Regional players

• Brewer Yacht Sales: Long-standing New England boat and yacht dealer with locations along the Connecticut, Rhode Island, and Massachusetts coasts. Compares as a regional full-service marine dealer with similar boat sales, service, and storage offerings in adjacent geographies.
• Nauset Marine: Cape Cod-based multi-location marine services provider offering sales, service, storage, and marina facilities. Comparable as a New England-focused full-service marine business, though operating in a different sub-region with different seasonal dynamics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/portlandboatworks
• Instagraminstagram.com/portlandboatworks
• LinkedInlinkedin.com/company/portland-boat-works-inc

Revenue estimate

Valuation estimate

Number of profiles

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 Portland Boat Works Inc