mjm yachts bankruptcies

Published on September 12th, 2023 | by Editor

Private equity firm buys MJM Yachts

Published on September 12th, 2023 by Editor -->

Saothair Capital Partners, LLC (Saothair), a private equity firm specializing exclusively in middle-market manufacturing and industrial companies, has acquired the MJM Yachts business and assets of MJM Yachts (MJM) through its newly formed affiliate, Seolta Holdings, LLC (Seolta).

MJM Yachts was founded in 2002 by Bob Johnstone, who, in 1977 co-founded J/ Boats, Inc., the world’s leading brand of performance sailboats. In 2019, Johnstone sold MJM to his son Peter.

In 2021, MJM started production in its new MJM Yachts factory in North Carolina. MJM’s market-leading high-tech, post-cured, epoxy infusion process has led to lighter, stronger, more durable composites, which further improved the impressive performance and fuel economy.

While enduring pandemic, supply chain, and factory start-up challenges, MJM managed to double output. The formation of Seolta Holdings will lead to further increases in output and sales growth to meet MJM’s increasing demand. The past year has created a battled-tested MJM factory team ready to take MJM to the next level.

“We are thrilled to embark on this new chapter for the MJM brand,” said Kevin Madden, Co-founder, and Managing Partner of Saothair. “With its rich history, outstanding reputation for quality, performance, and design, MJM has established itself as a leading producer of luxury yachts. We are committed to providing the necessary investment to further grow MJM’s prominence in the industry.”

Richard Lozyniak, Co-founder, and Operating Partner of Saothair, added, “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.”

Rich and Kevin bring invaluable expertise to the MJM Team and its next chapter as Seolta Holdings. They have appointed Peter Johnstone as President and Chief Executive Officer of Seolta.

Tags: Industry , MJM Yachts , Peter Johnstone

Related Posts

Knut Frostad joins Henri-Lloyd →

Robust growth for catamaran market →

VIDEO: Winners and other cool yachts →

Hobie Cats return to Hobie family →

Comments are closed.

© 2024 Scuttlebutt Sailing News. Inbox Communications, Inc. All Rights Reserved. made by VSSL Agency .

• Privacy Statement
• Advertise With Us

Get Your Sailing News Fix!

Your download by email.

• Your Name...
• Your Email... *
• Name This field is for validation purposes and should be left unchanged.

• Find a Lawyer
• Ask a Lawyer
• Research the Law
• Law Schools
• Laws & Regs
• Newsletters
• Justia Connect
• Pro Membership
• Basic Membership
• Justia Lawyer Directory
• Platinum Placements
• Gold Placements
• Justia Elevate
• Justia Amplify
• PPC Management
• Google Business Profile
• Social Media
• Justia Onward Blog

This docket was last retrieved on April 7, 2023. A more recent docket listing may be available from PACER .

Use the links below to access additional information about this case on the US Court's PACER system. A subscription to PACER is required.

Access this case on the Massachusetts District Court's Electronic Court Filings (ECF) System

• Search for Party Aliases
• Associated Cases
• Case File Location
• Case Summary
• Docket Report
• History/Documents
• Related Transactions
• Check Status

Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.

Why Is My Information Online?

Subscribe to Justia's Free Newsletters featuring summaries of federal and state court opinions .

• Bankruptcy Lawyers
• Business Lawyers
• Criminal Lawyers
• Employment Lawyers
• Estate Planning Lawyers
• Family Lawyers
• Personal Injury Lawyers
• Estate Planning
• Personal Injury
• Business Formation
• Business Operations
• Intellectual Property
• International Trade
• Real Estate
• Financial Aid
• Course Outlines
• Law Journals
• US Constitution
• Regulations
• Supreme Court
• Circuit Courts
• District Courts
• Dockets & Filings
• State Constitutions
• State Codes
• State Case Law
• Legal Blogs
• Business Forms
• Product Recalls
• Justia Connect Membership
• Justia Premium Placements
• Justia Elevate (SEO, Websites)
• Justia Amplify (PPC, GBP)
• Testimonials

• Skip to primary navigation
• Skip to main content
• Skip to primary sidebar
• Skip to footer

Private Equity Professional

Private Equity's News Leader

There is a right and a wrong in the universe, and that distinction is not hard to make. Superman

Saothair Goes Cruising with MJM Yachts

Mjm is a designer and builder of carolina downeast-style luxury yachts used in sportfishing, cruising, and entertaining.

MJM's yachts include inboard or outboard diesel engines, spacious cockpits, and an enclosed cabin or pilothouse for comfort in various weather conditions.

Source: mjm yachts.

• By John McNulty
• September 7, 2023

MJM is a designer and builder of high-performance Carolina Downeast-style luxury yachts. Carolina Downeast-style boats are a classic type of recreational boat originating from the New England and Atlantic Canadian regions. These boats – used for sportfishing, cruising, and entertaining – typically feature a single inboard diesel engine, spacious cockpits, and often have an enclosed cabin or pilothouse for comfort in various weather conditions.

MJM was founded in 2002 by Robert Johnstone and is based in Washington, North Carolina. Peter Johnstone , who has led MJM since 2019, will serve as the president and chief executive officer of Seolta.

“In 2021, we started our own manufacturing and developed leading high-tech production processes,” said Mr. Johnstone. “Sales doubled, and demand continues to grow. Our mission is to deliver MJM customers their fondest shared adventures, regardless of conditions.”

Saothair was co-founded in November 2019 by former KPS Capital Partners’ professional Kevin Madden and Richard Lozyniak , a former CEO of three KPS portfolio companies. The firm is headquartered near Philadelphia in Radnor, Pennsylvania.

“Our investment behind Peter and the entire team will provide the company with the capital necessary to grow the business and build the MJM brand aggressively,” said Mr. Lozyniak.

“Market-leading yachts result from terrific people. We thank our dealer network, loyal owners, industry vendors and dedicated workforce. Rich and Kevin will further strengthen the team that is committed to our success. Seolta’s support will fuel MJM’s ascent further. I am thrilled to be able to bring MJM to the next level,” added Mr. Johnstone.

Los Angeles-based SierraConstellation Partners was the financial advisor to MJM Yachts.

© 2023 Private Equity Professional | September 7, 2023

Balmoral Exits Resco with Sale to RHI Magnesita

Oceans equity launched in miami, warren raises over $550 million for oversubscribed small cap fund, vance street acquires filtration components maker, aterian enters pharma services sector with cpl recapitalization, montage sells southwest data products to nucor, hkw strengthens team with two new partners, oep completes carve out of technipfmc’s measurement business, arsenal clubs up on poly-wood buy, percheron doubles up and hard caps second fund, comvest closes sixth flagship fund, more private equity news, l catterton invests in storyteller overland, trinity hunt establishes coker as new platform, persistence takes neighbourly private, new mountain sells ilc dover to ingersoll rand, capstone: middle market participants are optimistic for a recovery in 2024, allied grabs a ride with buy of celebrity coaches, customer help, memberships, advertising, private equity professional c/o sun business media llc po box 6610 evanston, il 60204 phone: 847-868-8807 .

To search in site, type your keyword and hit enter

Boston BoatWorks, LLC v. MJM Yachts, LLC

• Parties (2)

Continue to Create Account

Professional BoatBuilder Magazine

Gunboat is back.

By Dan Spurr , Jan 18, 2020

The Gunboat 68 (21m) is the first model launched by the new ownership of the company. Two boats are in the water, and two more are in build at the facility in France.

Actually, this builder of high-performance luxury cruising-catamaran sailing yachts has been back since 2016, the year Grand Large Yachts (parent of Allures, Garcia, and Outremer) bought the assets of Gunboat and relocated them from North Carolina to La Grande-Motte, France, where it commenced construction in a new 38,736-sq-ft (3,600m²) assembly facility. Gunboat founder Peter Johnstone, son of Bob Johnstone (J Boats, MJM powerboats), had declared Chapter 11 bankruptcy in May of that year. Production had originated in South Africa, moved to Xiamen, China, briefly to Hudson Yachts in an attempt to economize, and then to North Carolina (see “Building the Big Guns,” Professional BoatBuilder No. 144) before succumbing to financial woes after 14 years.

During the period between bankruptcy and purchase, the owner of an incomplete Gunboat 55 (16.8m) retained designer Nigel Irens to modify the boat, Vai Vai , to 57 ‘ (17.4m).

Johnstone created a boat that could cruise the world in safety, and with performance bettering that of the catamarans designed for the charter trade. Most are intentionally underrigged for safety, generally operating at 8–10 knots; Johnstone sought and routinely achieved faster double-digit speeds. The first South African boats were designed by the California firm Morrelli & Melvin Design and Engineering (see “M&M,” PBB No. 72).

Today, with managing partner Benoit Lebizay at the helm, Gunboat designs, engineers, and builds new models with cutting-edge technology. In January 2019, the company launched its first new boat, the 68 ‘ (20.7m) Condor , which has a removable interior for racing. Next was #6802, Dash , in July 2019. Two additional yachts, #6803 and #6804, are in build.

Gunboat now has French DNA

Design and engineering are by the French company VPLP (see “Flying Machines, Part Two,” PBB No. 91), one of the premier designers of high-performance multihulls for racing and cruising. Those include the Macif , the 100 ‘ (30m) Ultime class trimaran that set a solo singlehanded round-the-world speed record of 42 days, average speed 27.2 knots (see PBB No. 181 , page 18). Styling, of course, was extremely important to attract the kind of buyers Gunboat wants, so Patrick le Quément, a multiple design-award winner and former designer at Ford and Renault, and Christophe Chedal Anglay were enlisted to develop the look. Marc Van Peteghem (the VP of VPLP), based in Paris, performed the weight studies and systems planning, while Vincent Lauriot-Prévost (the LP), in the Vannes office, executed the lines, structure, and sail plan.

While the first Gunboats were laminated with vacuum-bagged polyester and E-glass, advances in materials and processes compelled the company to turn to carbon fiber for reinforcements. Major parts—hulls and decks—are infused in-house. According to the Gunboat website: “If you take a cursory glance at the material choices, prepreg offers about a 15% weight saving on a composite structure. While it’s easy to get excited about that at face value, the devil is always in the details. On a typical Gunboat, the composite structure only makes up about 30% of the total displacement. A percentage of a percentage gets pretty small pretty quickly, to the point that building in full prepreg carbon did not justify the additional costs and complexity involved.”

European Supply Chain

William Jelbert, who manages construction, elaborates: “All tools are female molds, E-glass monolithic—same technology used to build 100+ boats out of. It was the technology available to us in Europe, and we wanted really fair molds to reduce fairing, and the big gelcoat-type boats around here need really fair tools because they are doing gray gelcoat boats. Our plugs were 5-axis foam machined, filler machined, then final faired by hand. We made the entire hull mold off of a one-piece plug for best fitting—always outsourced, as tooling is not our specialty. In Europe you have a great supply chain with a lot of specialization. We used a tooling company in western France.

“Everything structural is carbon. Anything that can fit on a truck is made by Fibre Mechanics and is prepreg. Why? Because they are best at prepreg, and this was an opportunity to save weight in a value-for-money way. Doing the hull and deck in prepreg would have meant very expensive infrastructure, tooling, and skills. We stuck with what we were good at: infusion in-house, prepreg outsourced to the best we could find.

“For a little partition panel that separates a compartment and is not structural, we use E-glass; it is more affordable and flexible, so tends to go along for the ride better. It is the same weight as a carbon panel would be.

“Corecell is used in everything that needs core in the structure—hull, deck, bulkheads. We use some PVC core for nonstructural partitions and Nomex honeycomb for the furniture, which is outsourced.

“All the structure is NDT’d [non-destructive tested] by a U.K. tester who works for small teams like Ineos Team UK and Hugo Boss.”

The interior structure, including these massive bulkheads, is made by Fibre Mechanics of prepreg carbon, much of it cored with Corecell and with North Thin Ply Technology robotically placed tape.

Stringers, bulkheads, and other flat panels are made by Fibre Mechanics utilizing North Thin Ply Technology (NTPT), described in this column in PBB No. 169. To summarize, the Swiss company first developed the product for making sails, specifically the black carbon sails for the America’s Cup yacht Alinghi , which won the 2007 event. It then made parts for F1 racecars, and found a partner in U.K.-based Fibre Mechanics, founded by former Green Marine employees, to move into yacht building. NTPT employs an Automated Tape Laying machine to “lay down” super-thin 12 “ -wide (300mm) tapes of prepreg carbon on a table to form computer-designed panels with the fibers oriented to the load paths. The panels are cured in Fibre Mechanics’ two autoclaves at 230°F (110°C). In fact, the entire interior structure is outsourced to Fibre Mechanics.

Fibre Mechanics’ founder and managing director, Geoff Stock, who has compiled an impressive résumé first with Jeremy Rogers and then Green Marine and SP Systems, says, “We make all the structural panels, 73 in all, plus some solid-carbon monolithic structures. Also very lightweight interior cladding panels, mainly Corecell but some Nomex. Everything is machine-cut prepreg, and, yes, we use significant amounts of NTPT material.”

To install these parts, Gunboat uses Spabond structural adhesive. Gelbert says, “Some glue joints are pure glue but mostly glued and taped. All major structural bulkheads are glued and taped using vacuum.”

The Gunboat 68 is offered with options, including asymmetric or symmetric daggerboards, long or short longeron/bowsprit, choice of boom length, and a fixed spar or rotating wing mast.

Gunboat, 1 Washington St., Newport, RI 02840 USA.

Fibre Mechanics, Waterloo Rd., Lymington, Hampshire SO41 9DB, U.K., tel. + 44 (0) 1590 427007.

NTPT, Chemin du Closel 3, 1020 Renens, Switzerland, tel. +44 21 811 08 88

Read more Companies , Construction , Design , Rovings , Yards articles

• Van der Werff’s Curved Wood

A Dutch yard adopts composite panel molding technology to build boats from preshaped wooden hull sections.

• Departures: Carl Chamberlin

Passionate, competent, considerate, modest, and thoughtful is how designer and boatbuilder Carl Chamberlin is remembered by those who knew him. He died last November at age of 75 in Port… Read more »

• SAFE Boats Regains Small-Business Status with Employee Ownership

More than 20 years ago, Professional BoatBuilder ran a feature titled “God, Country and Fast Boats” (No. 85, page 64) about SAFE Boats International (SBI), a Bremerton, Washington–based manufacturer of aluminum boats…. Read more »

Recent Posts

• Find out how 3D printing can help your boatbuilding with MASSIVIT
• SNAME Powerboat Symposium Is Back
• Companies (85)
• Construction (106)
• Design (161)
• Drawing Board (10)
• Education (25)
• Environment (16)
• Events (21)
• Materials (50)
• Obituary (18)
• People/Profiles (49)
• Products (16)
• Propulsion Systems (32)
• Racing (16)
• Repair (37)
• Rovings (317)
• Short Cuts (3)
• Sponsored Partner News (14)
• Systems (80)
• Task Sheet (1)
• Uncategorized (26)
• Wood to Glass (7)

ProBoat.com Archives

It began with a meeting on a  yacht  off the coast of Cannes in the summer of 2009. The newly-elected prime minister of Malaysia was aboard at the invitation of businessman Jho Low and Saudi-Swiss businessman Tarek Obaid. The men had gathered   to explore deals for Malaysia’s new economic development fund, 1MDB. 

Fifteen years later, the prime minister is in a Malaysian prison serving  time  for corruption. Low, the alleged mastermind behind the  $4.5 billion  defrauding of 1MDB, remains at large. And Obaid and his business partner Patrick Mahony will stand trial at Switzerland’s top criminal court on April 2, accused of creating a sham oil exploration company through which they stole more than $1.8 billion in 1MDB funds.  

Neither Mahony or Obaid have spoken in public about their deals with Jho Low, a round-faced businessman they nicknamed ‘Chunk.’ The month-long trial, set in Switzerland because the two men based their business there, may reveal fresh details about the fugitive, who is suspected of pulling off arguably the biggest financial heist of the 21st century. Mahony   has denied the charges and pleaded not guilty. A lawyer for Obaid didn’t return multiple messages seeking comment on the charges.

It’s also a chance for Switzerland, seen as a soft touch on white-collar criminals, to demonstrate it can be tough on financial crime. A former Coutts & Co. banker found guilty in 2020 of failing to flag money-laundering concerns related to a $700 million transfer made by Low was fined just 50,000 Swiss francs ($55,700). 

Prosecutors claim that the pair worked with Low on the scheme from as early as 2009, and the amounts at stake make it one of the largest frauds that Low allegedly helped orchestrate.

Mahony has been charged with criminal mismanagement, fraud, bribery and aggravated money-laundering, according to the 213-page indictment, with Obaid accused of all that and forgery. A conviction just on fraud charges carries a prison sentence of as much as 10 years, though in many Swiss cases, the sentence is suspended.  

In the indictment, Swiss prosecutors lay out the pair’s alleged scheme — which, they say, included negotiating on behalf of a Saudi king they had no mandate from, while claiming the rights to a Caspian Sea oilfield that they never controlled — from that first Mediterranean meeting in 2009. 

A lawyer for Obaid didn’t return emails seeking comment on the charges against her client. Laurent Baeriswyl, a lawyer for Mahony, said by email that the indictment is the result of a “totally biased and incomplete investigation.”

The Swiss Attorney General’s Office “ignored all the facts which did not correspond to its thesis, contrary to what the law requires” and so “our client therefore strongly contests the facts as they emerge from the indictment and he will defend his rights before the Federal Criminal Court.”

Saudi Connections?

Obaid founded oil exploration company Petrosaudi in 2005 with his acquaintance Prince Turki Bin Abdullah al Saud, determined to capitalize on the connections that royal name could enable. 

But even with that woven into the company’s pitch, the ambitious 30-year-old still needed cash. He had secured a modest loan through Patrick Mahony, a former classmate from private school in Geneva, who would become Petrosaudi’s unofficial chief investment officer in 2009, according to the indictment. But he needed more, prosecutors say, and turned to Low.

Communicating only through encrypted BlackBerry messages and private email accounts, the three men got to work on the company. But according to the indictment, their strategy had little to do with oil exploration. 

Prosecutors highlighted emails among the three men to drive home their argument that Petrosaudi didn’t control the assets it purported to have, nor did it have the Saudi monarch’s blessing. According to one sent in mid-September 2009 before an introductory call with a 1MDB executive, it was imperative to “hint that PSI is indirectly owned by King Abdullah.”

Turki, the seventh son of the late King Abdullah, isn’t accused of any wrongdoing in connection with Petrosaudi, and didn’t exercise any operational role within the company, according to prosecutors. Turki was one of several princes detained in November 2017 by Saudi Arabia’s defacto ruler Mohammed bin Salman, and his current whereabouts are unclear. 

Turkmeni Oil

Following the Cannes   meeting, Obaid proposed that 1MDB and Petrosaudi create a joint venture to exploit Petrosaudi’s stake in a Turkmeni oilfield. Obaid laid out in writing, according to prosecutors, that Petrosaudi would bring “$2 billion worth of its assets in the energy sector into the joint-venture company.” 

There was one problem: Petrosaudi didn’t own the oilfield or the rights to it, but was rather in stalled negotiations with a firm that had paid $10 million to buy up the rights. But those paper rights were essentially worthless as the oilfield lay in waters whose ownership was disputed by Turkmenistan and Azerbaijan. 

So Obaid turned to an oil consultant and old family friend to value the oilfield. Nine days later, he produced a report that put the “fair net present value” of the assets at between $2.98 billion and $4.06 billion.

With that hefty valuation in writing and the Saudi royal family’s backing established in the minds of 1MDB executives, the board of directors signed off on Sept. 26, 2009, and two days later authorized the transfer of $1 billion to bank accounts held by the new joint venture, 1MDB PetroSaudi. 

Three hundred million of that went to an account controlled by Obaid, according to prosecutors. The remaining $700 million went to GoodStar, which was falsely presented as a unit of PetroSaudi but was in fact a Seychelles-based entity controlled by Low. On Oct. 5, the businessman wired $85 million of that to an account held in Obaid’s name. Obaid, in turn, wired $33 million to Mahony on Oct. 21. 

The following year, prosecutors allege that the pair set about extracting additional money from 1MDB. Obaid had persuaded the fund to turn the joint venture into a loan facility and he drew down $500 million, ostensibly to invest in French oil company GDF Suez.

Newly flush, the pair appeared keen to distribute the funds quickly, emails show.  

“Right now we are in a good situation because we have this money in a clean and proper legal way so there is nothing anybody can do to us,” Mahony wrote to Obaid in September 2010. 

The next day, he transferred $300 million into Obaid’s personal account and the remaining $200 million to Petrosaudi accounts he controlled, according to prosecutors. 

Then in 2011, Obaid drew down again, this time for $330 million, prosecutors allege. To pressure the Malaysians to accept, he reminded them of how King Abdullah helped evacuate Malaysian Muslims during the Arab Spring protests, and how he had increased the quota of Malaysian Muslims able to make the pilgrimage to Mecca. 

Between 2009 and the end of 2011, prosecutors say that the men took a total of $1.83 billion from 1MDB, with Obaid personally pocketing $580 million, and Mahony, $37 million. 

Bangkok Prison

Obaid and Mahony’s 2023 indictment was based in part on the testimony of Xavier Justo, the third employee at Petrosaudi. After just a year at the company, Justo left and was arrested in Thailand in June 2015. Convicted of attempted blackmail in what he says was a conspiracy on the part of Obaid, Mahony and the Malaysian authorities to silence him, the Swiss national spent 18 months in prison before his country’s government intervened to help get him released. 

Documents Justo shared with  The Sarawak Report,  a blog focused on corruption in Malaysia, led to the first  expose  of the Petrosaudi pair in 2015. He published a  book  last year, co-written with his wife, chronicling his experience with the two men. 

The Malaysian Anti-Corruption Commission flagged its own arrest warrants for Obaid and Mahony to Interpol in early 2020. It’s unclear if they were ever detained and Swiss prosecutors declined to say whether they ordered their arrest. 

Years on, Justo says he hopes that his country’s justice system will now do the right thing.  

“This is the perfect opportunity for Switzerland to show the world that it is serious about fighting financial crime and that it is prepared to punish those who perpetrate it,” he said.

Latest in Finance

• 0 minutes ago

Inflation that squeezed European shoppers fell more than expected in March to 2.4%, as grocery cost spikes eased

McKinsey is so eager to trim staff that it’s offering some employees 9 months’ pay to go and do something else

Sergio Ermotti came to the rescue when UBS snapped up Credit Suisse. One year later, he’s now Europe’s best-paid bank CEO

Ozempic maker Novo Nordisk facing pressure as study finds $1,000 appetite suppressant can be made for just $5

London’s water supplier set to collapse into ‘special administration’ as shareholders refuse to bail out Thames Water

Most popular.

Singaporean firm whose ship took down the Baltimore bridge just cited an 1851 maritime law to cap liability at $44 million

Hyundai and Kia recalled 3.4m vehicles, warning to park them outdoors because they risked catching fire. 6 months later, most are still on the road, unrepaired

The ‘growing crisis of the young American male’ could send home prices falling for years or even decades, says the ‘Oracle of Wall Street’

‘Cicada-geddon’ will hit America for first time since 1803, expert says: ‘Trillions of these amazing living organisms [coming] out of the Earth’

Oregon just officially changed its mind on decriminalizing drugs

America will be left with ‘severe, irreversible scars’ if national debt goes unchecked. Now, a blockbuster report warns the bill is higher than believed, hitting $141T by 2054

Experience the Thrill of Big Water Adventures. Let the Weekend Begin!

Embodying a sleek and contemporary Carolina Downeast style, the MJM 3 is a luxurious express day-yacht that guarantees exceptional all-weather/all-conditions performance. With its unique indoor/outdoor HVAC-controlled pilothouse providing protection, 3 social zones, a full head, and plenty of storage, the 3 is all about maximizing fun and adventure on the water.

She delivers exceptional and unmatched smoothness and stability in her ride. Thanks to our market-leading post-cured Epoxy infusion composites process and advanced hull geometry, the MJM 3 is praised as the best handling day-yacht in her class. She can handle inlets and conditions that would return all other boats to the dock.Equipped with cutting-edge digital fly-by-wire technology and twin Mercury Verados, the MJM 3 ensures quiet and precise navigation with joystick piloting, Skyhook station keeping, low maintenance costs, easy pre-flight checks, and the added excitement of shallow water exploration.

Her speed and protection allow you to escape sudden inclement weather comfortably while enjoying breathtaking 360-degree views. Moreover, this protective feature will enable you to embark on your water adventures earlier in the season and extend them later into the year. Prepare to immerse yourself in the unparalleled connection to the water that defines the MJM 3 experience.

Articles & Reviews

Ask a Question

Build A Boat

MJM 3® Brochure

Schedule A Sea Trial

MJM 3® Manual

Owner Reviews

MJM 3® DISTINCTIONS

• Three social areas and convertible lounger
• Superior composite construction for lightweight strength and durability
• Best in class stability and smoothness of ride
• Low noise, low maintenance outboard power
• Light, strong, high-tech composite construction
• Innovative flush deck layout
• Joystick docking and Skyhook station keeping
• Opening electric windshields
• Fully opening side windows
• Side boarding door
• All-weather indoor/outdoor pilothouse with HVAC option
• Indoor/outdoor pilothouse settees convert to sleep two
• Full private wet head with shower

Key Features

• 50 mph top speed and 42 mph cruise speed
• Three zones of fun
• Ease and convenience of outboards
• ISO Certified Category "B" Offshore
• Twin Mercury 300 hp Verado power

Items included as standard in the base price:

• Air-conditioning systems
• Bow thruster
• Exterior seating covers
• Privacy curtains
• Commissioning package
• Transhield transport cover

The patented (yes, really) ride of the MJM hull is unmistakable. The MJM 3 smoothly parts the seas, deflecting wave action down and aft to ride atop the waves smoothly with the stability that earns her larger sisterships ISO Class A Ocean rating. This is a ride that spoils you for anything else and a ride quality you can rely on in any weather. Merc Verado systems make her easy to handle in and around the docks, too.

At The Dock

The MJM 3 works hard and plays hard. Bring your gang aboard, there’s room for everyone to stretch out in three lushly cushioned social areas. Forward, a cozy bow is optionally sunny or shaded by a Mediterranean-style shade. The pilothouse provides a protected space where the captain and friends can close up the windows and enjoy a climate controlled space. The cockpit is a generous hub for entertaining with optional grill, refrigerator, icemaker and sink, or when the it’s time to catch some rays, relax on the convertible double chaise lounge. There's plenty of toy storage and a full head located beneath the consoles.

MJM 35 300 V8 Verado

Learn More About The 300 Verado Download Test Data

MJM 35 400 V10 Verado

Learn More About The 400 Verado Download Test Data

Principal Dimensions

• Length Overall 38’ 6”
• Length on Deck 35’ 8”
• Draft Engines Up 21.5"
• Draft Engines Down 35"
• Displacement 13,200 lb
• Deadrise at Transom 19.5°
• Fuel Capacity 250 gal
• Water Capacity 50 gal
• Air Height w/Radar 9'
• Standard Power Twin Mercury 300 HP Outboards
• Twin Mercury 400 HP Outboards
• Top Speed 50 mph

Test drive the MJM 3®

Request more information, contact us to learn more about the mjm 3®.

Contact MJM

© 2024 mjm yachts, all rights reserved.

• First Name *
• Last Name *
• Models * I'm Interested in* 3z 35z 43z 43zi 53z 53zi
• Home Port *
• Boat Model & Year Built
• Email This field is for validation purposes and should be left unchanged.

Pamlico Yachtworks Department: Accounting Position: CFO

Pamlico Yachtworks seeks CFO well-versed in all aspects of financial management ranging from simple accounting to broad investment and banking operations.

Key attributes for candidates:

• High-plant-touch orientation
• High technical financial, accounting and tax expertise, along with
• Exceptional “affability/teaming” attributes, in
• Complex, mid-tier manufacturing environments

Employee Duties & Responsibilities

• monthly/periodic financial reports and analyses.
• projections and budgets
• reconciliation with requisite supporting information for accurate presentation of the financial reports.
• Oversees the accounting function (accounting, accounts payable and payroll) and billing and collections functions of the organization.
• forecasting cash flows and operating results
• presenting financial and other information to the leadership team and the Board of Directors.

Requirements and skills

• Proven experience as CFO, finance officer or relevant role
• In depth knowledge of corporate financial law and risk management practices
• Excellent knowledge of data analysis and forecasting methods
• Proficient in the use of MS Office, MS Excel, QuickBooks, ERP and financial management software
• CPA is a strong advantage
• BSc/BA in Accounting, Finance or relevant field; MSc/MBA is a plus

Stay in the know. Get the latest information on MJM Yachts including new models, events, & more.

By submitting this form, you are consenting to receive marketing emails from: MJM Yachts. You can revoke your consent to receive emails at any time by using the unsubscribe link, found at the bottom of every email.

A Zurn Design

Maxi-Open Mangusta Yachts presented at Boat Shows in Palm Beach and Moscow

• Inspiration

Related News

Popular news this week, popular news this month, latest news.

• Yacht Charter & Superyacht News >

Written by Zuzana Bednarova

Two important events saw the Mangusta Maxi Open by the prominent Italian builder Overmarine again protagonist on the nautical scene: Marine Max exclusive partner for the United States attended the Palm Beach Boat Show , running from March 22 to 25 with the spectacular motor yacht Mangusta 92 and the Mangusta 130 superyacht on display. Burevestnik Group, on the other hand, was the star of the Moscow International Boat Show , taking place from March 20 to 25 exhibiting the scale models of the luxury yacht Mangusta Oceano 148, the superyacht Mangusta 92, the Mangusta 165 as well as Mangusta 130 yachts.

Mangusta 92 Superyacht

MANGUSTA 92 ( an example of Mangusta 92 is the motor yacht ILLUSION ) Stylish and fast luxury motor yacht Mangusta 92 represents perfect proportions. She offers an ambitious layout that permits for 3 beautiful staterooms and a relax room or 4 staterooms, each with high-tech entertainment centers. Run by twin MTU 16V2000M94 of 2600Hp each and Kamewa 56S3 jet drives, the Mangusta 92 achieves the exciting speed of 37 knots.

Luxury motor yacht Mangusta 130

MANGUSTA 130 ( for example the charter yacht Ability ) Mangusta 130 superyacht combines pleasure and performance. Her lower deck provides 4 lovely staterooms and a salon or 5 staterooms. When the twin 3640-hp MTU16V4000 M93L are fired up and bring the vessel to a full speed of 39 knots, the peaceful as well as relaxing feeling remains, as there is no noise or vibration.

Megayacht Mangusta 165

MANGUSTA 165 ( an example can be the luxury charter yacht ZEUS ) The biggest fiberglass Open Yacht ever built, the luxury megayacht Mangusta 165 brings together state of the art technology with extreme comfort. With a speed of 39 knots, the Mangusta 165 exceeds all expectations in terms of performance, with the stabilizers that provide the smoothest ride. This majestic and elegant vessel offers extraordinarily spacious interiors with four or five staterooms and a living space.

Superyacht Mangusta Oceano 148

MANGUSTA OCEANO 148 Mangusta Oceano 148 superyacht is built to provide her Owner with the utmost in luxury and comfort aboard by integrating the latest technology processes with the most advanced marine equipment available in the market. Her interiors can be built in any kind of wood and with the style (design) selected by the Owner.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Maxi-Open Mangusta Yachts presented at Boat Shows in Palm Beach and Moscow".

• Charity & Fund Raising
• CharterWorld News
• Classic Yachts
• Coronavirus
• Cruise Ship
• Ecological Yachts
• Expedition Yachts
• Expert Broker Advice
• Feature Superyachts
• Interior Design
• Legal & VAT Yacht Issues
• Luxury Catamarans
• Luxury Gulet
• Luxury Phinisi
• Luxury Trimarans
• Luxury Yacht Design
• Luxury Yachts
• Marinas & Harbours
• Marine Ecology
• Marine Electronics
• Marine Equipment
• Mega Yachts
• Modern Yachts
• Motor Yachts
• New Launch Yachts
• New To Charter
• Open Style Sports Yachts
• Private Jets
• Sailing Yachts
• Social Media
• Sports Yachts
• Superyacht Crew
• Superyacht Photographers
• Superyacht Products & Supplies
• Superyacht Refits
• Superyacht Reviews
• Superyachts
• Uncategorized
• Yacht Builders
• Yacht Charter
• Yacht Charter Destinations
• Yacht Charter Picks
• Yacht Charter Specials
• Yacht Delivered to Owner
• Yacht Designers
• Yacht Events & Boat Shows
• Yacht Fashion
• Yacht Industry News
• Yacht Photos
• Yacht Racing
• Yacht Racing & Regattas
• Yacht Safety Equipment
• Yacht Support Vessels
• Yacht Tenders
• Yacht Videos
• Yachting Associations
• Yachting Awards
• Yachting Business
• Yachts For Charter
• Yachts For Sale

Quick Enquiry

Superyacht news:.

Email Your Yachting News to: news @ charterworld.com

Luxury Yachts At Events

The Caribbean

The Mediterranean

The Pacific Northwest

Successful cooperation between Overmarine Group | Mangusta and Luxury Living – FENDI Casa at FLIBS

Overmarine Group at Dusseldorf Boat Show with Mangusta 92, Mangusta 130, Mangusta 165 and Mangusta 148 Oceano Yachts on display

Eye-catching Mangusta 130 Motor Yacht HAPPY DAY spotted in Fort Lauderdale

Video introducing new mangusta 165 e superyacht moonraker.

Mulder Yachts Launches the Seventh Mulder ThirtySix, motor yacht Q43

Sailing catamaran FELICITA makes her debut on the charter market

Mangusta announce the launch of the sixth hull in the MANGUSTA 104 REV series

49m sailing yacht ACAPELLA is offering a fabulous June ‘fill the gap’ special offer on charters in Croatia

Explorer style motor yacht ROCKIT available for charter in select locations around the world

Mulder unveils the luxury yacht MULDER THIRTYSIX Hull #8

Florida charter yacht REAL SUMMERTIME offering 10% discount

Westport announce the first hull of their 36m W117 range is nearing completion

Superyacht LAUNCHPAD previously Feadship 1010 delivered

Croatian charter yacht LA PERLA offering 10% discount on exclusive vacations in the Adriatic

News from Feadship about superyachts PROJECT 712 and PROJECT 715

33m luxury yacht FREEDOM for charter in the Caribbean and New England

Charter a yacht during the Monaco Historic and F1 Grand Prix festivals and soak up the atmosphere from on deck

39m luxury yacht EVOLUTION for charter on Australia’s east coast

Select Region or Brand

• Charleston, SC
• Columbia, SC
• Greenville, SC
• Pennsylvania
• Lehigh Valley, PA
• Long Island, NY
• Mecklenburg, NC
• New Orleans, LA
• Oklahoma City, OK
• Rochester, NY
• South Carolina
• Color Magazine
• Massachusetts
• North Carolina
• Rhode Island
• Milwaukee, WI
• Designers Today
• Furniture Today
• Gifts & Decorative Accessories
• Home Accents Today
• Home Furnishings News
• Home Textiles Today
• Manage Your Print or Online Subscription
• Manage Your Email Subscriptions

Upcoming Event

• Empowering Women
• Leads & Data Center
• Add My Business
• Book of Lists
• Publications
• Event Sponsorship
• Editorial and Special Products Calendar
• Print Advertising
• Plaques & Permissions
• Digital Edition
• Construction
• Financial Services
• Health Care
• Law & Government
• Professional Announcements
• Professional Announcements Submission
• Real Estate
• Digital Editions
• Reader Rankings
• Event Planners’ Guide
• Power Lists
• Square Feet
• CCIM Directory
• Treasure Valley Living
• Idaho Heartland Living
• Women Who Lead
• Idaho Business NOW Series
• Experts Forum
• Business Beyond the Blip
• Leads & Data Center
• Women of the Year
• Top Companies in Treasure Valley
• CEO of Influence
• Accomplished Under 40
• Icon Awards
• Excellence in Finance
• Top Projects
• Leaders in Law
• Breakfast Series
• Business Beyond the Blip Webinars
• Forum On the Future
• Event Photos
• Plaques & Permissions

Moscow Ford dealership files for bankruptcy after creditor sues

Sean Olson // March 13, 2013 //

Share this!

Related Content

This app created in Boise SWEARs content to be authentic

SWEAR provides real-time cryptographic watermarks for media, “establishing an undeniable record of reality,�[...]

April 3, 2024

Boise State Public Radio dials in with purchase of Sun Valley station

Duchesne Drew, president of Minnesota Public Radio said that the purchase “is a great outcome for the statio[...]

April 2, 2024

Kuna farmers launch community ag pick-up site

The Boys & Girls Club in Kuna is one of 10 Global Gardens pick-up sites throughout Kuna, Meridian and Bois[...]

North central Idaho construction company builds on legacy of quality, precision

Over the course of its nearly four decades in business, the company has seen significant growth.

April 1, 2024

An inflation gauge closely tracked by the Federal Reserve shows price pressures easing gradually

Excluding volatile food and energy costs, last month’s “core” prices suggested lower inflation pressures[...]

Home Depot buying supplier to professional contractors in a deal valued at about $18.25B

Home Depot is making a big bet on a housing market that is suffering a severe lack of new homes, which has dri[...]

March 28, 2024

IBR Daily Newsletter

Sign up for your daily digest of Idaho Business Review News.

• By signing up you agree to our
• Privacy Policy

Top Stories

Expansion of aquifer to make water management easier, board says

The resource board was pleased with the passage of the legislation, noting in its most recent meetin[...]

Services to continue at Saltzer locations by two major Idaho providers

On April 1, health care provider Saint Alphonsus Health System and imaging company Intermountain Med[...]

Economic summit forecasts what’s building for Canyon County in years ahead

That growth is expected to carry over into the first half of 2024 but will begin to slow due to an i[...]

Crypto, legislation and a new Steve

The simple route is that I had $10 just sitting in my Venmo account.

Ski resorts begin transition from snow sports to summer fun

It’s been a great transition for us. ... What we’ve found is that our summer offerings attract a[...]

Visiting for vino: Idaho’s wine industry is drawing in tourists as the spring season begins

Listen to this article The owner of a Moscow Ford dealership has filed for Chapter 11 bankruptcy a d[...]

Small business hiring woes show signs of easing

Small businesses have a tougher time retaining workers since they often can’t offer higher salarie[...]

IBR to honor 50 of Idaho’s best with Icon and AU40 awards

Honorees of both awards can be nominated by anyone, whether it be those they’ve worked with, those[...]

Trust is earned, not bought: The benefits of ethical public relations

Be the leader you wish you had

Self-directed IRAs offer more control but require babysitting

VIEWPOINT: Sustainability of forests top priority for Idaho

Who likes to be managed?

Privacy Overview

Try our Advanced Search for more refined results

The Practice of Law

• Law360 Pulse

Business of Law

Law360 authority, deep news & analysis, tax authority, employment authority, insurance authority, real estate authority, bankruptcy authority, healthcare authority.

• Law360 Employment Authority
• Law360 Tax Authority
• Law360 Insurance Authority
• Law360 Real Estate Authority
• Law360 Healthcare Authority
• Law360 Bankruptcy Authority

• Law360 In-Depth
• Law360 Podcasts
• Regional Powerhouses
• Law360's MVPs
• Women in Law Report
• Diversity Snapshot
• Practice Groups of the Year
• Rising Stars
• Titans of the Plaintiffs Bar
• Adv. Search & Platform Tools
• About all sections
• Browse all sections
• Class Action
• Competition
• Expert Analysis
• Intellectual Property
• Product Liability
• Track attorneys
• Track judges
• Join the Law360 team
• Search legal jobs
• Learn more about Law360
• Read testimonials
• Contact Law360
• Sign up for our newsletters
• Law360 Company
• NEW About Law360 Authority
• Resource Library

Moscow Court To Hear Yukos Bankruptcy Case

Law360 is on it, so you are, too..

A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.

A Law360 subscription includes features such as

• Daily newsletters
• Expert analysis
• Advanced search
• Judge information
• Real-time alerts
• 450K+ searchable archived articles

Experience Law360 today with a free 7-day trial.

Already a subscriber? Click here to login

Related Sections

• Citigroup Inc.
• Deutsche Bank AG
• HSBC Holdings PLC
• Societe Generale
• I forgot my password
• I took a free trial but didn't get a verification email
• How do I sign up for a newsletter?

Already have access? Click here to login

Get instant access to the one-stop news source for business lawyers, sign up now for free access to this content.

Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters

Email (NOTE: Free email domains not supported)

PLEASE NOTE: A verification email will be sent to your address before you can access your trial.

Password (at least 8 characters required)

Confirm Password

Get the best of Law360 in your inbox

Select at least one primary interest below to receive curated, daily newsletters designed by senior editors so you can quickly scan the latest news and analysis in your area of practice.

Show all interests

Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest. You’ll be able to update your communication preferences via the unsubscribe link provided within our communications. We take your privacy seriously. Please see our Privacy Policy .

Already have access?

• Password: Forgot your password?
• Remember login

Sign up for our Bankruptcy newsletter

You must correct or enter the following before you can sign up:.

Law360 takes your privacy seriously. Please see our Privacy Policy .