hinckley yacht company sold

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Hinckley Company sold

The Hinckley Company, iconic Maine boatbuilder of sail and power yachts, has been sold to private equity firm Scout Partners LLC. Phil Bennett, vice president of sales for Hinckley, confirmed the sale, which took place in January.

Founded in 1928, Hinckley builds its high-end boats at facilities in Trenton and Southwest Harbor, Maine. The company also owns eight service boatyards along the East Coast.

The new owners, Scout Partners, is a partnership between David Howe and Peterson Capital LLC, a private equity firm founded by former U.S. Secretary of Commerce Peter Peterson.

In 2008, according to the New York Times , Hinckley claimed revenue of about $100 million. That same year the company was forced to cut some 50 workers at its Trenton facility and another 56 workers in 2009. In May 2010 the company brought back nearly 100 workers in Trenton and another 35 in Southwest Harbor.

According to Howe, “We love the Hinckley brand, and plan to nurture it to preserve all that is Hinckley. We’re very excited about the future potential of the company, including the boatbuilding and service businesses.”

In a press release Hinckley Company CEO James McManus said, “2010 was a significant rebound year for the company. New boat sales were strong and continue to show momentum. We’re excited to have new ownership partners that are committed to building the Hinckley business and that share a passion for the Hinckley brand.”

By Ocean Navigator

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Debt Trips Up Hinckley, Venerable Yacht Maker

By Geraldine Fabrikant

• Oct. 9, 2009

SOUTHWEST HARBOR, Me. — David Rockefeller Sr. ordered a new boat last year, a $3 million 55-foot powerboat.

Mr. Rockefeller, now 94 years old, may not have needed a new boat. It was, after all, the sixth he has bought from Hinckley Yachts in Southwest Harbor. But Hinckley Yachts and its workers certainly needed the order — and providing them with work was part of Mr. Rockefeller’s motivation, his spokesman said.

Hinckley — which has been making boats since 1928 and is known for classically designed, beautifully constructed sailboats as well as sleek, easy-to-maneuver powerboats — is under financial pressure. It has significantly reduced its work force — from about 625 employees at its peak in mid-2008 to 305 at the end of August. The layoffs, in turn, have affected Southwest Harbor businesses, some locals say.

Like other yacht makers, Hinckley lost substantial business when the economy turned sour. But Hinckley’s problems can also be traced to its sale to one, and then another, private equity firm over the last dozen years. With each sale, it took on more debt, which became onerous when business slowed. And the culture also shifted from a family-owned business to one controlled by outsiders.

Beginning early this decade, near the peak of demand, private equity buyers poured money into yachting, convinced — wrongly, it turned out — that the business could weather any economic storms because its wealthy clients would continue to buy. Several other boat makers have run into problems, including Ferretti of Italy and the MasterCraft Boat Company of Vonore, Tenn.

Hinckley may well survive this downturn, thanks to a strong brand name nurtured over decades of Hinckley family ownership and a loyal clientele, some of whom spend their summers near Bar Harbor.

James P. McManus, who was hired as Hinckley’s chief executive two years ago by Monitor Clipper Partners, the private equity firm that now controls the company, declined to comment on Hinckley’s finances.

In the meantime, some of Hinckley’s critics say, the constant pressure on the bottom line by the new owners has left some employees feeling that management misunderstands the customers and the employees. “If they had not had that debt, we could have weathered this,” said Ruth Brunetti, who, during a 20-year career at the company, was chief financial officer, treasurer and contracts negotiator. She was dismissed in July. “We have suffered from a double impact: the economic downturn and corporate greed.”

Some companies are still profitable. Sabre Yachts, a boat maker owned by the entrepreneur Daniel Zilkha, “will be profitable despite a substantial drop in sales, because it carries no debt,” Mr. Zilkha said.

Because Hinckley is privately held, it does not release details about its profits and losses. But according to people close to the company, Hinckley’s revenue in 2008 was roughly $100 million and taxable income was about $4 million. But this year, for the first time since the mid-1990s, it will have a taxable loss of about $4 million, they said. Several people close to the company estimate that revenue this year could fall to $50 million to $75 million.

Buyers certainly pulled back — unwilling or unable to pay $900,000 to $4 million for Hinckley’s sailboats or $400,000 to $3 million for its powerboats. In the spring, only three boats were under construction at Hinckley’s main manufacturing plant in Trenton, Me., including Mr. Rockefeller’s. In an interview, Mr. McManus said he was optimistic about the company’s future. He said orders had begun to return, and he planned to bring back 85 employees this month. Buyers are not the only customers in retreat. Hinckley also services and stores boats, and a boat restoration can cost as much as $150,000. “But now people are not spending for that work,” said one former Hinckley employee who did not want to be identified as talking about the company.

“One customer with a 92-foot sailboat was going to spend $2 million to refit it, but he canceled that order,” this person said. “That would have kept somewhere near 25 people busy for six to eight months.”

Bob Hinckley — the grandson of the founder, Benjamin Hinckley — who ran the company with his partner, Shepard McKenney, from 1982 until it was sold in 1997, has fond memories. “I worked there as a kid,” he recalled. “We always built a high-quality product,” he went on. “We used wild teak, not plantation teak even though it costs two to three times as much. We used a great deal of varnish. It took us about 10 months to build a 50-foot sailboat.”

Mr. Hinckley was running the company in the early 1990s, when the government levied a 10 percent luxury tax on yachts and orders fell. “It was brutal,” Mr. Hinckley recalled. “Wealthy people don’t like to be taxed on their hobby.”

Still management shared the pain with employees. “We cut our own salaries in half and asked employees to take a 10 percent pay cut across the board,” Mr. Hinckley said. Guy Dunbar, a former production manager who now owns Dunbar Real Estate in Southwest Harbor, recalled that “after a year, they paid us the difference.”

Meanwhile, Mr. Hinckley went overseas and sold boats to Germans and Japanese for whom the luxury tax was not an issue. “We never leveraged up the company,” Mr. Hinckley said. “We paid down loans. When we sold the company, it had just $1 million in debt.” Bain Willard Companies, a Boston-based private equity firm, was the first buyer, 12 years ago. It paid about $20 million, equal to about one year in sales, putting down about 25 percent in cash and borrowing the rest, according to several people with knowledge of the negotiations.

And Bain Willard had the wind at its back. Hinckley had introduced the “picnic” boat not long before — a luxurious powerboat that combined the look of a New England lobster boat with a water jet propulsion system, instead of a propeller, that allowed the boat to maneuver in shallow water. It had been an instant hit.

Bain Willard expanded Hinckley, opening service centers in Florida, Maryland, Rhode Island and other places. In those boom times, the strategy paid off. In 2001, it sold about 51 percent of Hinckley to Monitor Clipper of Boston for an estimated $40 million in debt and equity. Bain Willard executives could not be reached for comment, and Monitor Clipper declined to comment.

But after Sept. 11, 2001, and the start of war in Iraq, boat buyers became nervous and growth stalled. In 2005, Hinckley sold its real estate across the country, raising enough money to pay down much of its debt, according to a person with knowledge of the company’s finances. It leased back the land, replacing interest payments with rent payments. Its revenue recovered in 2006 and 2007 before the economy weakened.

The company has begun to monitor its cash flows aggressively. “We have always watched over receivables,” Ms. Brunetti said. But this went further, she said.

One owner, who has had a number of Hinckleys, said he had a lien on his boats for several thousand dollars in storage fees after doing business with Hinckley for years. And a former employee said: “If a customer was 30 days behind on payments, we had to call. It was just not the way we had done business.”

But Mr. McManus countered that asking customers to pay what they owed was simply good business and that relations with clients were good. Still, in a business that deals with the superwealthy, that aggressiveness can antagonize important customers, several former employees said.

In Ms. Brunetti’s opinion, “Today, people are worried about doing business with Hinckley because of the monetary situation and their reputation for how they treat their customers,” she said. “That has taken a toll.”

Hinckley’s problems have also taken a toll on its hometown.

Leslie McEachern, the owner of McEachern & Hutchins, a hardware business his family has owned for six decades, said: “Hinckley was a good business in the area. They employed a lot of people. Unemployed people don’t spend money, and all the businesses around here are feeling it.”

Ms. Brunetti said: “What upsets me is that this is a small town. Lots of people who really loved the company got hurt.”

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Morris sailboat brand keeps on cruising after Hinckley acquisition

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Morris Yachts has maintained a quiet but steady presence since Hinckley Yachts picked it up for an undisclosed sum in January 2016.

Recently, sales and brokerage director Wythe Ingebritson returned from delivering a new Morris M36 sloop to a customer in New York. 

“We just finished up three new M36s and don’t have a new boat in build, but we do have some good interest and I hope to have a couple sales this fall,” he told Mainebiz.

The three sailboats were built for customers in New York and Chicago.

The activity represents a positive boost to the Morris Yachts brand. Founded in 1972, the sailboat builder sold more than 200 of its high-end performance cruisers known as the Ocean Series, and more than 125 M-Series boats designed both for daysailing and offshore cruising, at prices ranging from $200,000 to more than $1 million.

Like other boatbuilders, Morris Yachts took a hit during the recession. Pre-recession new-boat production peaked at 21 or 22 and plummeted to a low of four in 2014. In 2016, Cuyler Morris, the company’s former president and son of the founder, told Mainebiz it had been difficult for the small company to adapt through the economy’s ups and downs. He said he expected the sale of the company to Hinckley Yachts to provide a more viable future for Morris.

“Being part of a bigger organization, where there are different resources, and different opportunities to share across lines, will provide stability to our workforce,” he said at the time.

Both are pinnacle yacht brands in the midcoast region. Morris focused on the daysailer and ocean cruising sailboat markets. Hinckley dominates the jetboat market. Hinckley acquired the Morris production plant, which located within a quarter-mile of its own production facility in Trenton. Hinckley is also the parent company of Hunt Yachts, in Portsmouth, R.I.

Since then, said Ingebritson, Hinckley has focused on Morris’s M-Series, which ranges from 29 feet to 52 feet long. 

Ingebritson is handling all Morris Yachts marketing and sales, and its brokerage. 

“I’m doing events as much as I can,” he explained. “I have a database of people I continue to reach out to. We have a little bit of co-marketing.”

For example, Hinckley hosts boat events at its Stamford, Conn., service yard, and Ingebritson plans to take an M36 to the event, while sending out an email blast to the database inviting people to try it out.

In August, he joined the Hinckley contingent to show Morris sailboats at the Maine Boat & Home Show in Rockland. Additional shows, with demonstration rides, include Newport, R.I., Annapolis, Md., and Florida. 

“There’s still more opportunity,” he said. “The goal is to tap into a broad database where there’s a fair amount of crossover.”

The company has also launched a new M52, an M42X and an M36X in the past few years, he said. The “X” indicates the boat has a deeper keel and taller rig for people who like to race.

All together, about 10 new Morris yachts have been built since the acquisition. 

“There’s still demand out there,”  he said. “And we get repeat customers.”

A number of Morris employees were hired by Hinckley and continue to focus on the Morris boats, he said. Construction of Hinckley, Morris and Hunt boats now takes place at both production facilities.

Cuyler Morris remains a presence as the brand’s “ambassador,” doing things like helping out at shows and doing demonstration sails, said Ingebritson.

“He’s a valuable asset,” he said.

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Bangor Daily News

Maine news, sports, politics, election results, and obituaries

MDI yacht builder The Hinckley Co. sold

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SOUTHWEST HARBOR, Maine — The Hinckley Co. , manufacturer of luxury sailing and power yachts, has been acquired by a capital investment firm, according to Hinckley officials.

The new owner of the yacht firm is Scout Partners LLC, company officials indicated in a prepared statement released late Tuesday. Terms of the transaction were not disclosed.

A local official confirmed the sale of Hinckley on Tuesday morning.

“The company has in fact been sold,” Phil Bennett, the company’s vice president for sales, told the Bangor Daily News. “It’s something we’re excited about.”

Bennett declined to comment further about the transaction.

Few details about Scout Partners, including where it is based or how the sale might affect Hinckley’s operations, were unavailable Tuesday evening.

According to the press release, Scout is a partnership between David Howe and Peterson Capital LLC, which was founded by former U.S. Secretary of Commerce Peter G. Peterson.

The company was created specifically to work closely with U.S.-based companies that have shown significant potential for long-term success, according to the press release.

“We love the Hinckley brand and plan to nurture it to preserve all that is Hinckley,” Howe wrote in the prepared statement. “We’re very excited about the future potential of the company, including the boat-building and service businesses.”

Hinckley CEO James P. McManus said in the press release that 2010 was a significant rebound year for the company.

“New boat sales were strong and continue to show momentum,” McManus said. “We’re excited to have new ownership partners that are committed to building the Hinckley business and that share a passion for the Hinckley brand.”

Hinckley was founded in Southwest Harbor in 1928, according to information posted on the company’s website . In the years since, the company has expanded to include facilities in Florida, Georgia, Maryland, Michigan, New Jersey, and Rhode Island. It has eight service yards along the East Coast and counts 1,500 Hinckley yacht owners and 5,000 service customers among its worldwide clientele.

In 1998, it opened a new manufacturing facility off Route 3 in Trenton. Over the past two years, the sagging economy has prompted the firm to lay off approximately 90 people at its Trenton plant, but company officials said in October 2009 that they intended to rehire between 30 and 40 craftspeople in Trenton.

In 2002, the company employed more than 700 people, approximately 500 of whom worked in Maine. Between 200 and 300 people are believed to have worked at the Trenton facility in the early 2000s. The firm now is believed to employ roughly 200 people in Maine after layoffs and rehirings

Known for building both luxury power and sailing yachts, Hinckley is in the process of beginning production of a new power yacht model, the Talaria 48.

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Bill trotter.

A news reporter in coastal Maine for more than 20 years, Bill Trotter writes about how the Atlantic Ocean and the state's iconic coastline help to shape the lives of coastal Maine residents and visitors.... More by Bill Trotter

Book a Free 30 Min Marine Consult with Barry Hinckley

About the Hinckley Club and our Family

This page has been built and designed as the official Hinckley Boat Building Family Alumni Association by Barry Hinckley on behalf of the Hinckley family. Hinckleyclub.com has no relation to or with Hinckley Yachts, Inc or related companies, which the family sold to a private equity firm in 1997 .  This site is for owners, employees, fans, and alumni to interact share photos and memories about the boats, we all love.  If a cat has 9 lives, a Hinckley has more…When I would hear my father would tell prospects that our boats would last “one day longer than a rock”. I took that literally, but having watched these boats over the past 5+ decades pass from loving family to loving family, I realized he wasn’t kidding! As you will see the site is designed around models/hulls/owners.  You can search boats by Model, then Hull # then you can view, claim ownership, upload, post, comment, etc. Underlying this thought process is the fact that one boat, maybe launched in 1966 (like me), most likely has had several families own and love her. Those families had formative and bonding experiences, the boats brought them and us together. This site is designed to connect all those experiences back to the common bond, the Hinckley boat.  It’s also to tell the Hinckley story from the point of view of the three generations of family, owners, and employees that built the company, much of which has been lost since the company was sold over 20 years ago.

As a child, we looked forward every Spring as the long Maine Winter would break and the owners and their families returned to enjoy their Hinckley. We built and still maintain great relationships around those boats. In fact, the boats are vehicles to those relationships, This site was born out of two things, first while going through an old darkroom we have in the basement at the house in SWH, a couple of years ago, I found tons of old negatives that I remember dad taking of the boats and developing in the ’60s and ’70s.  (we call that fully integrated, from photos to marketing!) Of course, I  wanted to do something with them and you’ll see some of those old black and whites scattered throughout this site. But also, many owner families, former employees, and captains over the years have sent us old photos or brochures that we love but didn’t know how to properly share and inventory.  So this is the site to clear out all those old drawers and upload those old photos. So go ahead, create an account, build a profile as an owner, employee, captain, fan, or affiliated personnel. You can claim ownership of a Hull #, or simply post to a hull #. You can also use the forum to create a thread, share photos, etc. I run this site on the side with my son Hudson and daughter Sasha, so if you have feedback we’d love to have it…just send it over via the contact button.

We still have the family house at 14 shore road in Southwest Harbor, just a few docks up the harbor from the yard. The whole family is there, in fact, Jill has spread out a bit and is renovating a house down the road. We spend the summer mornings working on the site with Bob, categorizing as many details and I can of the many years of boats and relationship that he and Tina and the whole Hinckley crew built over the years.  Stop by and say hi, you’ll see my sister Lizzie’s. Hinckley Competition 41 Night Train (yes she bought dad’s original Night Train back) on the end of the dock.

Hope to see you in SWH in the Summer!

Barry Hinckley, August 2021

History of Hinckley Yachts

From the families point of view, Hinckley Yachts was founded by Benjamin Barrett Hinckley, father of the famed Henry Hinckley who began working at the yard in 1932, 5 years after Benjamin purchased the boatyard abutting his summer home in Manset, in 1927. Bob began at Hinckley in summers while in high school and college he joined full time after serving in the Army in 1960. At Henry’s urging, “The  Company” as it was known, began the pioneering transition from wood to fiberglass construction in 1958 but managed to preserve that authentic look with just the right amount of teak and mahogany. The was perfectly express in delivering the first Bermuda 40, Huntress in 1960.

Ownership history of Hinckley/The Talaria Company, LLC:

Decline of a legend.

1 st         1928 – Founded by Benjamin Hinckley

2 nd        1932 – Taken over by son, Henry R. Hinckley

3 rd         1979 – Sold by Henry R. Hinckley to Richard Tucker and run by William Moyer

4 th         1982 – Henry R. Hinckley’s son, Bob Hinckley, bought company back with help from his business partner, Shepard McKenney

5 th         1997 – Sold by Hinckley/McKenney to The Bain, Willard Companies – William Bain, Ralph Willard, and Alexander Spaulding

6 th         1999 – The Talaria Company, LLC was founded.

7 th         2000 – Fictitious name Hinckley Yacht Services was filed.

8 th         2001 – 51% controlling interest sold to Monitor Clipper Partners – Mark T. Thomas and William Young, both of Luxembourg – James P. McManus appointed CEO (now deceased)

9 th         2005 – Company sold to Scout Partners, LLC – David Howe and Pete Peterson – Gerard DiSchino appointed CEO – David Howe is currently CEO of Scout Partners and Chair of Hinckley Yacht Services; Pete Peterson is deceased

• 2008 – Subsidiaries Alden Yachts, Inc. and Winter Yacht Basin, Inc. both dissolved (no info on when they were acquired)
• 2013 – Scout Partners, LLC acquired Hunt Yachts
• 2016 – Scout Partners/Hinckley acquired Morris Yachts, LLC
• 2022 – Current LLC members are Jerry Lundquist (McKinsey & Co), Brooks Gordon (W. P. Carey), David Howe (Scout Partners LLC) (“The Talaria Company LLC”).

Current executive team for Talaria/Hinckley is:

• Geoffrey Berger, CEO.
• Michael Arieta, President.
• Linda Cavanaugh, Chief Financial Officer.
• Pete Saladino, Chief Marketing Officer.

Call for Resignation & Sale, Infamous 'Hinckley Hooker', and more ...

© 2023 All Rights Reserved.

Decline of a legend

Ownership history of hinckley/the talaria company, llc:.

1 st         1928 – Founded by Benjamin Hinckley

2 nd        1932 – Taken over by son, Henry R. Hinckley

3 rd         1979 – Sold by Henry R. Hinckley to Richard Tucker and run by William Moyer

4 th         1982 – Henry R. Hinckley’s son, Bob Hinckley, bought company back with help from his business partner, Shepard McKenney

5 th         1997 – Sold by Hinckley/McKenney to The Bain, Willard Companies – William Bain, Ralph Willard, and Alexander Spaulding

6 th         1999 – The Talaria Company, LLC was founded.

7 th         2000 – Fictitious name Hinckley Yacht Services was filed.

8 th         2001 – 51% controlling interest sold to Monitor Clipper Partners – Mark T. Thomas and William Young, both of Luxembourg – James P. McManus appointed CEO (now deceased)

9 th         2005 – Company sold to Scout Partners, LLC – David Howe and Pete Peterson – Gerard DiSchino appointed CEO – David Howe is currently CEO of Scout Partners and Chair of Hinckley Yacht Services; Pete Peterson is deceased

• 2008 – Subsidiaries Alden Yachts, Inc. and Winter Yacht Basin, Inc. both dissolved (no info on when they were acquired)
• 2013 – Scout Partners, LLC acquired Hunt Yachts
• 2016 – Scout Partners/Hinckley acquired Morris Yachts, LLC
• 2022 – Current LLC members are David Howe, Brooks Gordon, and Jerry Lundquist (“The Talaria Company LLC”).

Current executive team for Talaria/Hinckley is:

• Geoffrey Berger, CEO.
• Michael Arieta, President.
• Linda Cavanaugh, Chief Financial Officer.
• Pete Saladino, Chief Marketing Officer.

Call for Resignation & Sale, Infamous 'Hinckley Hooker', and more ...

© 2023 All Rights Reserved.

Copyright © 2022. Hinckley Boat All rights reserved.

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The History of Hinckley Yachts Chronicled in a Lush New Monograph

By Norman Vanamee

Anybody who has sailed Eggemoggin Reach in Maine’s Penobscot Bay or sat at Spring Point Ledge Lighthouse to watch boats come into Portland Harbor knows the excitement of spotting a Hinckley yacht. It is a point of pride for native, as well as aspiring, Mainers that these beautiful crafts are still made in Southwest Harbor, where the company was founded in 1928. But Hinckley’s appeal reaches far wider than a single state. The boatbuilder’s exceptionally well designed and technically advanced vessels are sought after around the world by racers and recreational sailors alike.

Nick Voulgaris III, author of the new book Hinckley Yachts: An American Icon ( Rizzoli , $65), purchased a 1968 Hinckley Bermuda 40 yawl in 2006 and embarked on a stem-to-stern restoration. In the process of taking apart his boat, he became obsessed with the firm that designed it. Established by Henry R. Hinckley, whose family owned a summer house on Mt. Desert Island, the company started out making motorboats and then added sailing models in 1938.

The Hinckley Co. expanded quickly during World War II, building various watercrafts for the war effort, and then resumed production of recreational vessels in the late 1940s. Voulgaris has unearthed many photographs and documents about the firm’s early years and used them to piece together an illuminating narrative about the evolution of an important American brand. For nautical newcomers, the volume offers a primer on the world of fine boatbuilding; for aficionados, it provides fascinating details about Hinckley’s many technological advances, races won, and extraordinary track record making new models that become instant sensations.

Voulgaris enlisted some well-known Hinckley owners to contribute essays to the book, including banker and philanthropist David Rockefeller (his most recent Hinckley is a Talaria 55), Condé Nast CEO Chuck Townsend (who owns a 36 Picnic Boat), and magazine publisher and TV personality Martha Stewart (who also has a 36 Picnic Boat). Each expresses admiration for Hinckley boats and for the skill and ingenuity of the craftspeople who make them. It’s a common refrain, writes Voulgaris. Even though the company has only produced around 2,500 vessels in its 85-year history, the boats attract outsize devotion. As he notes, “Hinckley owners often refer to themselves as ‘stewards’ of these fine craft, preserving them for the next individual to hold the proverbial keys.”

By Rachel Wallace

By Katherine McLaughlin

By David Sokol

By Rachel Davies

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The Hinckley Company started in 1928 as the Manset Boatyard in Southwest Harbor, Maine.  Henry R. Hinckley’s focus was on servicing the local lobster boats as well as the yachts of summer residents on Mt. Desert Island.  In 1933, Henry built his first boat, Ruthyeolyn , a 36-foot fisherman with beautiful lines that are surprisingly familiar and still look the part even today. 

That first boat was fished hard for 9 months of the year and then varnished up and chartered in the summer months to vacationers.  From the very beginning, the yachts from the Hinckley yard were kept to the highest standards. Henry was not satisfied with many off-the-shelf parts and soon the yachts from Hinckley came to feature custom designed and fabricated hardware such as stanchions, chocks, pulpits and masts. This attention to detail made these yachts distinctive and, in time, they would earn the collective admiration of sailors and yachtsmen around the world.  

There was something in the way they moved through the water — stately, proud and elegant — or swung on their pennants in the harbor at dusk. People who knew boats could instantly spot a Hinckley; those who didn’t were simply able to appreciate the graceful lines and the glistening brightwork.

Beautiful, Functional Design

The lines of a Hinckley were a direct result of their need to endure the rigors of life among the rocky coves and jutting promontories of Maine’s Acadian coast. Then as now, frivolous design had no place on such unforgiving waters. A specific form was borne of these nautical circumstances, characterized by a strong, well-found hull, sweeping deck lines to quickly shed foaming waters, with overhanging bows and fine counters to lend stability in angry seas.

Their speed and stamina were a direct result of Henry’s training and his background studying aeronautical and mechanical engineering at Cornell.  Henry insisted on making his boats light yet strong and was never afraid to innovate. In the 1950s, for instance, Hinckley was one of the first to forego traditional oak frames and planking in favor of fiberglass — according to the pundits, completely unsuited to the construction of a “proper” yacht. But Hinckley saw in fiberglass what the traditionalists had missed — an opportunity to save weight while adding strength. And without sacrificing the aesthetic beauty for which Hinckleys were known.  This same thinking led to the use of carbon and Kevlar from bow to stern in our Picnic Boats and Motor Yachts 25 years ago.

Composites and Innovation

Today, Hinckley remains one of the few recreational builders using Carbon composites from bow to stern vacuum-infused with epoxy for incredible strength. We were one of the first American builders to adopt SCRIMP resin infusion and today we remain a world leader.  Our single bond infusion allows for an integrated, chemical bond between hull and support structure.  With our move to epoxy resin infusion in 2018, we are now building with a resin material of 40% greater strength and improved environmental benefits.  We believe so strongly in this approach that we are unique in guaranteeing our hulls and decks for life (learn more) .

Shallow Draft and Precision Control

Our yachts are powered by water jets for a reason.  Jet propulsion provides unrivaled precision handling with just the slightest touch.   Jets are considered the best possible mechanical configuration for joystick applications because changing thrust direction on a jet is accomplished by simply changing the direction of water flow.  Commercial and military boats that rely on continuous maneuverability select jets for this reason.  The US Navy’s newly designed 43-foot PB-X and 85-foot Mark VI patrol boats are each powered by water jets for inshore maneuverability in unknown waters.

Without any appendages below the waterline, our yachts can safely maneuver in very shallow areas or in water with excessive debris such as lobster pots.   Jets also become significantly more efficient than propeller-driven boats at speeds above 25-30 knots since there are no appendages below the waterline.  The drag of propellers, pods and rudders rises exponentially above these speeds.  Without these appendages, jets can operate at speeds above 25-30 knots with less drag and fuel consumption.

Our research and development continues to drive innovation.  JetStick 3 now brings military grade GPS hardware and digital processing to a completely redesigned driving experience.  Innovations found only on a Hinckley such as Heading Hold and Dynamic Steering allow the boat to understand your intended course and let you carve turns with ease.   

Built Just For You, Cared For Entirely By Us

We start building your boat after you purchase it. It’s built just for you, to your specifications. Half the fun is working directly with our team to specify the engine package, teak options, electronics, canvas and cushions. Once your yacht is delivered to you, we provide three full days of hands-on training so you are fully confident in how to operate each and every system on board.

Building and owning a Hinckley is an unparalleled experienced. Hinckley is unique in owning and operating 10 world-class YachtCare Centers up and down the east coast. Our YachtCare program combines this unrivaled infrastructure with a new mobile service team to deliver an ownership experience like none other. Only Hinckley brings all of this together for an on-the-water experience with family and friends that is uniquely yours.

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What's In a Name?

Jaan: 19 yachts and the history of hinckley.

Talk about being a kid in a candy store. “We always had a boat,” is what both Bob and Hank Hinckley said when asked about growing up with their father, Henry R. Hinckley, president of the Hinckley Company. 

What they left unsaid is that almost every single one of those boats had the same name. While Henry Hinckley was an innovator in the boatbuilding business and an early pioneer in the use of fiberglass for production boats, when it came to boat names he found one he liked and stuck with it. For 24 years, he named every boat he had built for himself Jaan , a combination of his daughter’s names, Jane and Ann. The early story of his company can be told by telling the story of all his Jaans .

Arguably the premier American yacht builder of the last half-century, Hinckley Yachts was founded in 1928 when Henry’s father, Benjamin, bought a small boatyard on Mount Desert Island. Henry, fresh out of the engineering school at Cornell University, took over operations from his father in 1932. The new company built fishing boats at first, and within a few years added a 28-foot Sparkman & Stephens sloop, eventually building 20 of them. When World War II started, Hinckley Company shifted gears, building wooden line boats, tugs, and other small boats for the U.S. Army and Coast Guard. Eventually, the company produced almost half of all the vessels built in Maine for the military during the war.

After the war, Hinckley focused on pleasure craft, mostly sailboats, with four different designs ranging from 28 feet to 45 feet, including a 34-foot sloop designed by Henry Hinckley and called the Sou’wester 34. By the 1950s, the company had built 62 of these boats, before redesigning the Sou’wester as a 36-foot step cabin model. The first Jaan , built in 1955, was one of these 36-footers. Henry and his family used Jaan  No. 1 for seven years. 

Hinckley Company records show that 18 more Jaan s were built for Henry. Some of them were sold shortly after or even before they were launched, as people believed that owning Henry’s personal boat added value. Some of them were ordered by Henry to start a new line or just to keep things going on an even keel. 

“It was not uncommon back then for people to keep the same name like that,” said Henry’s son Hank. “He just decided to carry the name on.”

Hank Hinckley and his brother Bob  have carried on the tradition. Bob has called several of his boats Night Train while Hank has owned three Diligent s. “I named the first one that because I promised my wife I would be diligent and try to sell the boat,” he said. “That was the deal if I wanted a boat.”

The offer of eight pre-sold boats was irresistible. The Sou’wester project was put on hold and all energy went into producing what became the now famous Bermuda 40. As a result, the B-40 was the first fiberglass Hinckley sailboat to be launched. It hit the water in the fall of 1959 for a flotation check, then was hauled and finished over the winter and delivered the next summer, just in time for the Bermuda Race, where it did well, even with an inexperienced crew. 

In 1961, the Hinckley crew began working on a fiberglass Sou’wester 30, using the hull of a newly built wooden SW-30 as a plug. Henry, who wanted a fiberglass boat, sold his wooden Jaan , and signed-up for the fourth fiberglass hull of what turned into a series of 27 Sou’wester 30s (including nine built from wood). Jaan No. 2 was launched in 1962.

“I learned to sail on that boat,” said Hank Hinckley.

Henry’s SW-30 is the only one of all the Jaan s that retains its original name. It is currently listed for sale by the Hinckley Company’s brokerage division.  

At that time demand for fiberglass Hinckleys was picking up and Henry was made an offer he couldn’t refuse for his current Jaan , which he sold in the fall of 1964, after making sure he could get one of the Pilots the following spring. Since he still owned a Jaan when he ordered the Pilot, he named the new one Jaan II . That was a Pilot 35, Hull No. 48. 

By then the Jaan charm was kicking in. Henry sold his new Pilot to a happy owner in less than a year and ordered one of the now popular B-40s for himself. Jaan No. 4 was B-40 Hull No. 46. This Jaan also sold quickly, and Henry ordered another new B-40 for the next year. 

When Henry Hinckley began spending winters in Florida, he had one of the company’s 26-foot Roustabout launches made for him, which he used to explore the rivers and canals of South Florida. The launches were a fiberglass version of the company’s wartime mine trawls. Hinckley sold the roustabout, which was named Jaanette , in 1974. 

During the 1970s, the Hinckley Company decided to build a 38-foot sailboat designed for offshore racing. A demonstration model, named Jaan Too , was built in 1970 and sold the next year. Another 38 demo, also named Jaan Too , was built and sold just as quickly. However, when the official Offshore Racing rules were revised, the Hinckley 38 became obsolete. Neither Bob nor Hank Hinckley remember sailing on either of the Jaan Toos . The boats likely were off racing somewhere. They were Jaans No. 7 and 9.

Early in 1970 when sales were slow, Henry ordered another B-40 to avoid layoffs at the company. Jaan No. 8, this boat was sold even before it was launched. Around this time Hinckley Company began building even larger boats. Henry designed a line of 49-foot sailboats, called the H-49, and started construction of another Jaan . Launched in the fall of 1971, it sold the following year. So Henry claimed the next available H-49. That was Jaan No. 11, which he kept for four years. The family sailed that Jaan to Nova Scotia in 1973.

Bob Hinckley worked as a master carpenter on many of the boats built during the company’s transition from wood to fiberglass. Hank, who was just a child then, got his chance to be the master carpenter when he came home from military service in 1977 and worked on a B-40. That boat, Jaan No. 14, sold right away. Jaan Nos. 12 and 13, also built in 1977, were both “sold-before-they-splashed” boats. The next three Jaans, also B-40s, each sold the year they were built, the last in 1979. They were sailed by Henry and the family during the summer and sold in the fall. 

Hinckley Company records list another Jaan as a 48-footer built in 1967 and sold in 1978. Most likely it was named Jaan on paper to order materials only. Neither Bob nor Hank remember that boat and the original owner on the delivery papers is not Henry, company records show.

Henry sold the Hinckley Company in 1979 and bought a used B-40. That was the last Jaan , No. 19. Henry  died in 1980. Except for Jaan No. 1, all the Jaan s remain in active service, proudly carrying on the Hinckley tradition of excellence.

Alan Sprague is a boat carpenter living on Mt. Desert Island. He is co-emcee of the World Championship Boatyard Dog Trials at the MBH&H Show, and co-host of “Boattalk” on WERU-FM Blue Hill.

You can read more of the Hinckley story in a new coffee table book: Hinckley Yachts, an American Icon, by Nick Voulgaris III, with an introduction by David Rockefeller; Rizzoli, New York; 2014.

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Irish Tango  |   Hinckley   49  |  Sailboat

• Washburn's Boat Yard

14250 Dowell Rd, Solomons, MD 20688

• Check Availablity
• Call Us: 443-254-2337

• Accomodations
• Hull & Deck
• Electronics

• Highly Updated and Expertly Maintained
• ICW Capable Air Draft (58' including aerial antennas) 
• Shoal Draft with Center Board 5'8"
• Excellent Tankage 300 gal of water, 300 gal of fuel
• Ford Lehman 135 Hp Diesel (low hours)
• Lithium Ion battery bank

Hinckley 49 Boat Specs

Irish Tango

49'0"

3 x 420 gal

40'5"

1 x 280 gal

Boat Model:

13'5"

Boat Designer:

Hank Hinckley

Maximum Draft:

10'0"

Hull Material:

Minimum Draft:

5'10"

Displacement:

Disclaimer: The Company offers the details of this vessel in good faith but cannot guarantee or warrant the accuracy of this information nor warrant the condition of the vessel. A buyer should instruct his agents, or his surveyors, to investigate such details as the buyer desires validated. This vessel is offered subject to prior sale, price change, or withdrawal without notice.

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IRISH TANGO features a two stateroom, two-head layout with a large sea friendly galley, roomy main saloon, a work room and excellent engine access.  The hand-crafted Honduran Mahogany interior and attention to detail sets these boats apart from newer designs. For liveaboard comfort, there are two reverse-cycle heat/A-C units. FORWARD STATEROOM:  Very large V-berth with filler. Storage drawers under, shelving overhead, and a hanging locker to starboard.  A large chain locker for rope/rode is forward of the berth.  The locker is lit with 12 LED lighting for ease of inspection.   FORWARD HEAD:  Aft of forward stateroom to port with manual toilet, vanity and shower, and dedicated holding tank.  Across to Starboard is a large hanging locker. MAIN SALOON:  Very comfortable main saloon with a pullout L-shaped settee to port and custom pull-out settee to starboard. Shelving and lockers outboard of both settees. Beautifully crafted and refinished dining table mid-ships with built-in storage drawers.  The overhead hatch and large ports provide light and ventilation.    NAV STATION:  Aft to starboard is a full-sized nav station with storage drawers beneath that fit unfolded charts.  WORK ROOM:  Continuing aft to starboard is a full workroom, also known as the mechanical room.  The workroom houses mechanical systems, an electrical panel, work bench & tool chest, a manual bilge pump etc.  A fireproof soundproof curtain provides good access to the starboard side of the main engine. GALLEY:  Aft of the Main Saloon to port is the galley, situated in the walk-through to the aft cabin.  AFT STATEROOM: Continuing aft to port is the Aft Stateroom.  This is quite a large and bright space with a double berth to Starboard and a single berth to port.  The space between the berths offers direct access to the aft cockpit which provides owners and/or guests with a private 'back porch'.  There is massive storage capacity in the aft stateroom. AFT HEAD:  Located to starboard in the Aft Stateroom, the aft head features a new Electric Toilet, stand-up shower stall, and vanity.

• H/C Pressure Water 
• NEW SEAFROST REFRIGERATOR AND FREEZER- 2016
•  NEW FORCE 10 LP STOVE 2016
•  NEW LPG REGULATOR AND SUPPLY HOSE- 2022
•  2 ALUMINUM TANKS W/ CURRENT INSPECTION
•  CORIAN COUNTERTOPS IN GALLEY AND BOTH HEADS
• 12 gallon 110 V hot water heater with engine circulation 
• Corian Countertops
• Separate stall shower
• New Techma FWF head.  
• 35-gal Holding Tank
• Vacuflush head
• FWD FRESHWATER HEAD VAC-CU FLUSH GENERATOR AND ALL HOSES- 2019 - Discharge Pump new 2019
• 60-gal holding tank

Electrical Systems:

• Northern Lights 6 kW Generator 
• Significant upgrades to the vessel's DC and AC circuitry have been made since the time of construction.  
• Mastervolt Inverter/Charger 
• Isolation Transformer 
•  Lithium Iron Phosphate batteries (house bank)
• Engine and generator batteries are Lead Acid batteries
• 50-amp shore power inlet was equipped with a circuit breaker.
• 120-volt circuits were equipped with circuit breakers 
• The AC outlets are equipped with (GFCI) outlets.  
• Shore power connection is via an Asea isolation transformer.
• CRUISAIR HEATING AND COOLING UNITS 110 V - FWD 16000 BTU NEW 2012-
• AFT 12,000 BTU NEW 2019
• - ADDED CIRCUIT PROTECTION FOR WINDLASS
• COMBIMASTER INVERTER CHARGER WITH DISPLAY AT NAV STATION 2021
•  4- 75 AMP HR LITHIUM IRON PHOSPHATE BATTERY SYSTEM- 2021
•  NEW BATTERY WIRING-2021
• ASES ISOLATION TRANSFORMER- 2021
• MOST INTERNAL LIGHTING HALOGEN OR LED
• PERSONAL FANS IN FORWARD BERTHS AND NAV STATION
• SEVERAL SPARE BREAKERS FOR DISTRIBUTION PANELS

Entertainment:

• Flat screen TV-Saloon 
• DC stereo 
• 120 Volt Stereo w/Sirus Satellite  
• - SHURFLO DECKWASH PUMP - 2022
• - RULE “3700” AUTOMATIC BILGE PUMP - 2022
• - WHALE “NUISANCE” AUTOMATIC BILGE PUMP-2022
• - WHALE “30” GUSHER MANUAL BILGE PUMP- 2000
• - WHALE SHOWER SUMP PUMP W/ NEW DRAIN HOSE- 2022
• - WHALE FRESH WATER PUMP W/ EXPANSION TANK - 2019
• - DOMETIC OVERBOARD WASTEWATER PUMP - AFT HEAD 2022
• - SODA BLASTED BOTTOM- BARRIER COAT- TIE COAT - ABLATIVE PAINT- 2018
• - BOTTOM PAINTED SEPT 2022
• - MOST BRONZE TAPERED BARREL SEACOCKS CLEANED AND LAPPED2021/2022
• - 5 GROCO SEA STRAINERS

Ground Tackle:

• NEW 5/16” X 275’ PEERLESS G-4 CHAIN- 2022
• 12V Ideal electric windlass
• spare windlass 
• 85 lb danforth, kedging anchor, and considerable length of anchor lines
• 2 RAYMARINE 12 INCH MFD’S - MODELS ES 127 AND AXIOM PRO - NAV STATION AND COCKPIT
• RAYMARINE AUTOPILOT
• RAYMARINE RADAR
• 2 RAYMARINE HANDHELD REMOTES
• ICOM SSB WITH CRUISE EMAIL “ROPE” ANTENNA
•  2 ICOM FIXED MOUNT VHF RADIOS W/ NEW ANTENNAS
• B & G WIND AND DEPTH INSTRUMENTS
• DIGITAL YACHT AIS SYSTEM- INTEGRATED W/ MFD’S
• TRIMBLE GPS DEVICE
• NAVIONICS NAVIGATION SOFTWARE- US, MEXICO, CARIBBEAN
• MODEM PLUS ROUTER FOR 2G,5G,CELL PHONE

Generator 1

Owner's Notes:

•  - Same owner for 24 years- half the life of the boat- considerable knowledge of boat and willing to share with new owner
• - The spreadsheet- hard copy of invoices for significant projects dates back to 2000- (Allow 20 inches of file drawer space)
• - The boat draws 6 feet with the 500 pound bronze centerboard up and 10 feet board down.
• - The main mast is 55 feet and sits approx 18 inches below the waterline. The VHF antenna adds 3 feet ( 1 meter) of additional height. I cite 58 feet as overall safe clearance height. This permits an easier passage through the ICW under any circumstance
• - As a ketch, it is easier to balance the sailplan. Sails are furled in-mast manually. We also rig the boom to lower and raise the dinghy motor using the starboard powered primary winch - much easier and safer
• - From my observation most sailboats are equipped with engine sizes of approximately 2HP / 1000 lbs of displacement- the Ford Lehman sp 135 provides 3 HP / 1000 lbs
• - The fully enclosed center cockpit is spacious and provides great visibility
• - The openings in the aft cockpit provide better through ventilation. An added feature is that you can reach the stern (135% genoa roller furling halyard) without having to go on deck
• - There is a loudspeaker on the mizzen mast. It is integrated with the VHF. A function of the VHF is an automatic fog horn that broadcasts through that speaker.
• - Tankage: 420 gallons of water in 3 tanks- 280 gallons of fuel in one tank- 60 gallon
• blackwater forward and 35 gallons aft
• - Passed USCG courtesy inspection 2022
• - There have been no insurance claims as the boat has never been damaged by us
• - In the salon both benches extend and can be used as pilot berths

Safety and Spares:

• Spare propeller 
• Emergency tiller 
• Spare autopilot drive motor
• Acoustic fire-rated engine access curtain
• Revere 6-person Life Raft (Inspection Status-Pending)
• The vessel is equipped with an automatic electric bilge pump equipped with a  float switch and high-water alarm.  
• Whale “Nuisance water” low-capacity electric bilge pump 
•  Whale Gusher manual bilge pump.
•  MOM 8A MOM- INSPECTION DUE IN 2023
• - ACR EPIRB- INSPECTION DUE DEC 2023
• - MAST-MOUNTED AQUA SIGNAL DECK LIGHTING FORE AND AFT
• Extinguishers 2- 10 lb ABC, 2- 2 lb ABC, 2 Halon ( Engine and galley ) 2 - BC, Fire blanket - galley
• 6 USCG type 1 adult life jackets
• - REINFORCED DINGHY DAVITS W/ 3 BLOCK LIFTING SYSTEM
• - AB 9.5’ ALUMINUM HULL DINGHY W/ NAV LIGHTS -1400 LB CAPACITY 2018 - FITS ON FOREDECK - NEW CHAPS 2022 (NEED TO BE MODIFIED)
• - 15 HP MERCURY 2 CYCLE OUTBOARD - 75 POUNDS - LOW HOURS - REGULAR

Engine and Mechanical:

• - REBUILT BORG WARNER VELVET DRIVE 2:1 TRANSMISSION- 1400 HRS
• - NEW INJECTORS 1400 HRS
• - NEW COOLANT AND RAW WATER PUMPS, THERMOSTAT( 2022)
• - NEW FUEL LIFT PUMP - 2022
• - REBUILT STARTER- 2022
• - REMOVED & INSPECTED PROP SHAFT- REPACKED SHAFT LOG- 1400 HRS
• - NEW HEAT EXCHANGERS AND HOSES- 2022
• - SPARE PROPELLER SHAFT AND PROPELLER
• - CALIBRATED DIPSTICK TO 14.5 QUARTS- FULL MEASURE- 2022
• - REPLACED CRANKCASE DRAIN HOSE- 2022
• - LAST OIL ANALYSIS 12-2022- CONDITION NORMAL
• - NEW RAW WATER PUMP
• - NEW EXHAUST ELBOW 1100 HOURS- 2022
• - REBUILT STARTER 1100 HOURS - 2022

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Jabin's Yacht Yard 7344 Edgewood Rd Annapolis, MD 21403

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The New York Times

Dealbook | debt weighs on hinckley, venerable yacht maker.

• Mergers & Acquisitions
• Investment Banking
• Private Equity
• Hedge Funds
• I.P.O./Offerings
• Venture Capital
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Debt Weighs on Hinckley, Venerable Yacht Maker

David Rockefeller Sr. ordered a new boat last year, a $3 million 55-foot powerboat. Mr. Rockefeller, now 94 years old, may not have needed a new boat. It was, after all, the sixth he has bought from Hinckley Yachts in Southwest Harbor, Me. But Hinckley Yachts and its workers certainly needed the order — and providing them with work was part of Mr. Rockefeller’s motivation, his spokesman said.

Hinckley — which has been making boats since 1928 and is known for classically designed, beautifully constructed sailboats as well as sleek, easy-to-maneuver powerboats — is under financial pressure, The New York Times’s Geraldine Fabrikant writes. It has significantly reduced its work force — from about 625 employees at its peak in mid-2008 to 305 at the end of August. The layoffs, in turn, have affected Southwest Harbor businesses, some locals say.

Like other yacht makers, Hinckley lost substantial business when the economy turned sour. But Hinckley’s problems can also be traced to its sale to one, and then another, private equity firm over the last dozen years. With each sale, it took on more debt, which became onerous when business slowed. And the culture also shifted from a family-owned business to one controlled by outsiders.

Beginning early this decade, near the peak of demand, private equity buyers poured money into yachting, convinced — wrongly, it turned out — that the business could weather any economic storms because its wealthy clients would continue to buy. Several other boat makers have run into problems, including Ferretti of Italy and the MasterCraft Boat Company of Vonore, Tenn.

Hinckley may well survive this downturn, thanks to a strong brand name nurtured over decades of Hinckley family ownership and a loyal clientele, some of whom spend their summers near Bar Harbor.

James P. McManus, who was hired as Hinckley’s chief executive two years ago by Monitor Clipper Partners , the private equity firm that now controls the company, declined to comment on Hinckley’s finances.

In the meantime, some of Hinckley’s critics say, the constant pressure on the bottom line by the new owners has left some employees feeling that management misunderstands the customers and the employees. “If they had not had that debt, we could have weathered this,” said Ruth Brunetti, who, during a 20-year career at the company, was chief financial officer, treasurer and contracts negotiator. She was dismissed in July. “We have suffered from a double impact: the economic downturn and corporate greed.”

Some companies are still profitable. Sabre Yachts , a boat maker owned by the entrepreneur Daniel Zilkha, “will be profitable despite a substantial drop in sales, because it carries no debt,” Mr. Zilkha said.

Because Hinckley is privately held, it does not release details about its profits and losses. But according to people close to the company, Hinckley’s revenue in 2008 was roughly $100 million and taxable income was about $4 million. But this year, for the first time since the mid-1990s, it will have a taxable loss of about $4 million, they said. Several people close to the company estimate that revenue this year could fall to $50 million to $75 million.

Buyers certainly pulled back — unwilling or unable to pay $900,000 to $4 million for Hinckley’s sailboats or $400,000 to $3 million for its powerboats. In the spring, only three boats were under construction at Hinckley’s main manufacturing plant in Trenton, Me., including Mr. Rockefeller’s. In an interview, Mr. McManus said he was optimistic about the company’s future. He said orders had begun to return, and he planned to bring back 85 employees this month. Buyers are not the only customers in retreat. Hinckley also services and stores boats, and a boat restoration can cost as much as $150,000. “But now people are not spending for that work,” said one former Hinckley employee who did not want to be identified as talking about the company.

“One customer with a 92-foot sailboat was going to spend $2 million to refit it, but he canceled that order,” this person said. “That would have kept somewhere near 25 people busy for six to eight months.”

Bob Hinckley — the grandson of the founder, Benjamin Hinckley — who ran the company with his partner, Shepard McKenney, from 1982 until it was sold in 1997, has fond memories. “I worked there as a kid,” he recalled. “We always built a high-quality product,” he went on. “We used wild teak, not plantation teak even though it costs two to three times as much. We used a great deal of varnish. It took us about 10 months to build a 50-foot sailboat.”

Mr. Hinckley was running the company in the early 1990s, when the government levied a 10 percent luxury tax on yachts and orders fell. “It was brutal,” Mr. Hinckley recalled. “Wealthy people don’t like to be taxed on their hobby.”

Still management shared the pain with employees. “We cut our own salaries in half and asked employees to take a 10 percent pay cut across the board,” Mr. Hinckley said. Guy Dunbar, a former production manager who now owns Dunbar Real Estate in Southwest Harbor, recalled that “after a year, they paid us the difference.”

Meanwhile, Mr. Hinckley went overseas and sold boats to Germans and Japanese for whom the luxury tax was not an issue. “We never leveraged up the company,” Mr. Hinckley said. “We paid down loans. When we sold the company, it had just $1 million in debt.” Bain Willard Companies, a Boston-based private equity firm, was the first buyer, 12 years ago. It paid about $20 million, equal to about one year in sales, putting down about 25 percent in cash and borrowing the rest, according to several people with knowledge of the negotiations.

And Bain Willard had the wind at its back. Hinckley had introduced the “picnic” boat not long before — a luxurious powerboat that combined the look of a New England lobster boat with a water jet propulsion system, instead of a propeller, that allowed the boat to maneuver in shallow water. It had been an instant hit.

Bain Willard expanded Hinckley, opening service centers in Florida, Maryland, Rhode Island and other places. In those boom times, the strategy paid off. In 2001, it sold about 51 percent of Hinckley to Monitor Clipper of Boston for an estimated $40 million in debt and equity. Bain Willard executives could not be reached for comment, and Monitor Clipper declined to comment.

But after Sept. 11, 2001, and the start of war in Iraq, boat buyers became nervous and growth stalled. In 2005, Hinckley sold its real estate across the country, raising enough money to pay down much of its debt, according to a person with knowledge of the company’s finances. It leased back the land, replacing interest payments with rent payments. Its revenue recovered in 2006 and 2007 before the economy weakened.

The company has begun to monitor its cash flows aggressively. “We have always watched over receivables,” Ms. Brunetti said. But this went further, she said.

One owner, who has had a number of Hinckleys, said he had a lien on his boats for several thousand dollars in storage fees after doing business with Hinckley for years. And a former employee said: “If a customer was 30 days behind on payments, we had to call. It was just not the way we had done business.”

But Mr. McManus countered that asking customers to pay what they owed was simply good business and that relations with clients were good. Still, in a business that deals with the superwealthy, that aggressiveness can antagonize important customers, several former employees said.

In Ms. Brunetti’s opinion, “Today, people are worried about doing business with Hinckley because of the monetary situation and their reputation for how they treat their customers,” she said. “That has taken a toll.”

Hinckley’s problems have also taken a toll on its hometown.

Leslie McEachern, the owner of McEachern & Hutchins, a hardware business his family has owned for six decades, said: “Hinckley was a good business in the area. They employed a lot of people. Unemployed people don’t spend money, and all the businesses around here are feeling it.”

Ms. Brunetti said: “What upsets me is that this is a small town. Lots of people who really loved the company got hurt.”

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Hinckley Yachts

Hinckley yachts for sale.

The Hinckley Company started in 1928 as the Manset Boatyard in Southwest Harbor, Maine. Henry R. Hinckley’s focus was on servicing the local lobster boats as well as the yachts of summer residents on Mt. Desert Island. In 1933 Henry built his first boat, Ruthyeolyn, a 36-foot fisherman with beautiful lines that are surprisingly familiar and still look the part even today.

That first boat was fished hard for 9 months of the year and then varnished up and chartered in the summer months to vacationers. From the very beginning, the yachts from the Hinckley yard were kept to the highest standards.

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• Sailboat Guide

Hinckley Yachts

The Hinckley Company, founded in Southwest Harbor, Maine, has been building and servicing this world renowned brand since 1928. The Hinckley Company Southwest Harbor, ME 130 Shore Road Southwest Harbor, ME 04679 (P) 207 244-5531 (F) 207 244-9833 The Hinckley Company: Corporate One Little Harbor Landing Portsmouth, RI 02871 (P) (401) 683-7005 (P) (866) 446-2553 HID (1972-1998): HRH (1998-2009): THC

Associations

• Shields Class
• Carl Alberg
• Henry R. Hinckley
• John G. Alden
• K. Aage Nielsen
• McCurdy & Rhodes
• Norman G. Owens
• Sparkman & Stephens
• William H. Tripp Jr.

30 sailboats built by Hinckley Yachts

Hinckley Bermuda 40-1

Hinckley Pilot 35

Owens cutter.

Ocean Cruising 40

Hinckley 38

Hinckley 49

Hinckley 21

Islander 30 (Hinckley-1938)

Ocean Cruising 42

Hinckley Sou'wester JR 30

Hinckley 41 Competition

Hinckley 48

Hinckley 28

Hinckley 43 (hood)-2.

Hinckley Sou'wester SR. 38

Hinckley Sou'wester 59

Hinckley Sou'wester 50

Hinckley 42 competition.

Hinckley Sou'wester 42/43

Hinckley 43 (Hood)

Hinckley Sou'wester 51 CC

Hinckley Bermuda 40-2

Islander 30 (Hinckley-1940)

Hinckley 43 (Mccurdy & Rhodes)

Hinckley 41

Ocean cruising 48.

Hinckley Bermuda 40-3

Hinckley Sou'wester 51

Hinckley sou'wester 34.

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About Hinckley Yachts

Built for Lobstering and Vacationers

More than 90 years ago, the Hinckley Company began in the boating business to service vessels plying the waters off the rugged coast of Maine. It was 1928 when Benjamin B. Hinckley bought the Manset Boatyard in Southwest Harbor. They aimed for lobster fishermen most of the year, then chartered the boats to vacationers during the summer months.

Four years later, his son, Henry R. Hinckley took over the business and set to work using his engineering degree (with studies in aeronautical and mechanical engineering) from Cornell University. The younger Hinckley built his first motorboat in 1933, a 36-foot fishing vessel named Ruthyeolyn.

That was just the beginning of the company’s attention to detail and durability. Construction of the first Hinckley sailing sloop came five years later: the 28-foot Sparkman & Stephens design was the first of 20, and was the company’s first production-line boat. In 1945, Hinckley built the first Sou’wester sailboat which grew to a fleet of 62, the largest single-design boat of that era.

Embracing Innovations

The Hinckley Yacht Company has been an innovator on many fronts. To procure the highest quality fixtures such as fuel tanks, stanchions, chocks, pulpits, deck plates, and masts, the company started to build and design their own products as Manset Marine Supply Company in 1940. And during World War II, Hinckley helped meet the needs of the United States military by building vessels designed for war.

Ever-growing, the 1950s saw Hinckley build hulls with fiberglass, a new idea at the time, and the first was their Bermuda 40 sailing ship in 1959. Innovations continued with auto-pilot systems and electric furling mainsails onboard their boats starting in the 1960s. Many in the industry felt that the company took a chance as it left wood construction behind in favor of new products. The Osprey was the last Hinckley wooden boat and was built in 1960.

Experimentation to build lighter and stronger vessels with fiberglass continued and now the company uses other composites including carbon fiber. As early adopters of the Seemann Composites Resin Infusion Molding Process (SCRIMP), Hinckley boats have a single chemical bond between the hull and the support structure. Starting in 2018, the builder employed an environmentally safer process with an epoxy-resin infusion and vacuum-infused process which increases strength up to 40%. Hinckley claims to be the only boat builder to use carbon fiber and Kevlar composite for all of the company’s designs.

Hinckley yachts use water-jet propulsion for precise handling with a joystick to efficiently change direction for continuous maneuverability. This also offers safe navigation in shallow or unfamiliar waters because of the lack of hardware below the waterline. With no propellers, pods, and rudders, drag is reduced for even more efficiency in speed and fuel consumption. These propulsion systems also include Heading Hold, Dynamic Steering, Geostationary Lock (G-Lock), and Parker Intellinders.

A remote monitoring system called OnWatch was launched in 2016 to track data points onboard with sensors on the boat. These are relayed to a mobile Web site with engine status, bilge, battery, fuel-tank levels, shore power connectivity, and more.

All Hinckley boats, ranging in size from 29 to 55 feet, are still built in the Hinckley shop in Maine.

Hinckley Yacht Company Ownership Through The Years

After nearly 50 years under the command of Hinckley, Richard Tucker bought the business in 1979. It didn’t last long as the recession in the 1980s led Tucker to sell the company three years later to Henry Hinckley’s son, Bob, who bought the company with business partner Shepard McKenney.

Eventually, the Bain, Willard Companies bought the business in 1997 for approximately $20 million. The most recent ownership change came in 2001 when 51% of the Hinckley Company was sold to Monitor Clipper Partners for $40 million in debt and equity. The Hinckley Company acquired Hunt Yachts in 2014 and Morris Yachts in 2015.

After the sale, Hinckley continues to service their brand with 10 YachtCare Centers along the U.S. east coast. The company’s continued care program features a mobile service team and YachtCare Classic program for its early model yachts. Hinckley has also added more than 100,000 square feet of climate-controlled indoor storage in these centers from Maine to Florida, including 40,000 square feet of Category 5 storm-rated storage.

After more than 57 years, Lewis Marine Supply acquired Manset Marine Supply Company in 2003.

Here are some of the classic Hinckley models:

• Picnic Boat Picnic Boat 34 S, Picnic Boat 37 S, Picnic Boat 40 S.
• Sportboat Sportboat 40C, Sportboat 40X
• Motor yacht   (with or without flybridge) Talaria 43, Talaria 48 MKII, Talaria 55 MKII
• Runabout Dasher Electric, Runabout 29, Center Console 29, Runabout 34, Runabout 38
• Sailboat Sou’Wester 53, Bermuda 40, Bermuda 50
• Outboard Hinckley 35

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Hinckley Yachts, Trenton Maine

Photographer: Peter Frank Edwards

Somes Boats

Wherever the owners take them, the yachts all have Maine DNA. About 300 craftspeople, many with decades of experience at the yards around Mount Desert Island, work to build the motor yachts and sailboats of the Hinckley Company, which now also includes Morris Yachts.

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AIRBORNE Yacht for Sale

AIRBORNE Yacht for Sale - 51' Hinckley

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Detailed information.

Content Sections

ACCOMMODATIONS

AIRBORNE sleeps four in two private ensuite cabins, plus four comfortably in the main salon. The interior is beautifully crafted in satin finished American cherry including solid trim, drawer fronts, cabin doors, louvered cabinet doors and hull ceilings. Cabin soles are solid teak and holly finished with gloss varnish. All interior varnish and cabin soles were refinished in 2020. All hanging lockers have aromatic cedar sheathing. New upholstery and cushions added throughout in 2020.

Owners Cabin

Starting forward, the owner’s cabin features a double V-berth and an abundance of storage including a bureau with numerous drawers, upper locker and countertop each side, lockers above berth and a double hanging locker. A large deck hatch and cabin portlight provide light and ventilation.

Owners Head

The owner’s private ensuite head features a white Corian countertop with sink, mirror, several storage lockers, a Vacuflush toilet, portlight and dorade vent. There is a separate shower stall with plexiglass door and teak seat.

Further aft, the full-beam main salon features a U-shaped extendable settee each side with additional pilot berths outboard and a solid cherry dining table on center with drop-down leaves and storage inside. There is a bureau/bar area with custom locker storage forward to starboard, plus several portlights and a large opening deck hatch.

• White Corian countertops with flush molded twin sinks, retractable faucet and manual pump faucet
• Force 10 gimballed 3-burner stainless steel propane stove with oven and broiler
• Large top-opening Grunert refrigerator and separate freezer compartments
• Microwave oven and additional storage inboard on centerline
• Water filter

Guest Cabin

Aft to port is a generous guest cabin with V-berth, lockers above, a tall bureau and a hanging locker. There is an opening porthole and a large portlight.

The private ensuite guest head features a vanity with sink, mirror, several storage lockers, a Vacuflush toilet, opening hatch, large portlight, and dorade vent. There is a separate shower stall with plexiglass door and teak seat.

NAV STATION

Navigation & electronics.

The following was all new in 2020 with the exception of back-up autopilot:

• Raymarine Quantum 2Q24D radar
• Raymarine Axiom Pro S12 touch screen display at companionway
• (2) Raymarine Axiom Pro S9 touch screen displays at nav station
• (3) Raymarine i70s displays above companionway
• Raymarine multi display at nav station
• Raymarine AIS 700 Class B transceiver
• Raymarine Ray 73 VHF
• Standard Horizon HX890 hand-held VHF
• Raymarine Evolution autopilot with (2) wireless remotes and independent ST 6002 back-up autopilot
• KVH Tracphone
• Iridium Extreme 9575 Sat phone
• Fusion stereo with speakers in fwd cabin, salon, aft cabin and cockpit
• Navionics chart chips - US & Canada, Caribbean and South America
• Ritchie 6” compass at helm

ELECTRICAL SYSTEM

• 12 volt DC/120 volt AC electrical system
• Over 90% of wiring replaced in 2020
• (2) AGM 8D house batteries and (2) engine/generator start batteries (all new 2020)
• Fisher Panda 8 generator (new 2022, 22 hours June 2023)
• Magnum Energy 2800 W inverter/charger (2020)
• (2) 30 amp shore power inlets and cords for house and air conditioning
• Overhead dome lights and Frigast Ocean stainless reading lights
• 12 volt fans throughout the interior
• 12 volt outlets at nav station and helm
• Trident gas solenoid and detector
• High water bilge alarm
• Electric horn
• Running lights, deck light, steaming light and tri-color masthead light

ENGINE ROOM/MECHANICAL EQUIPMENT

• Yanmar 4JH2-DTE 88 HP diesel engine (3,632 hours June 2023)
• New transmission and exterior components (2020)
• New propeller shaft, PSS shaft seal, coupling, cutlass bearing and Maxi 3 blade prop in 2020
• Racor fuel filters with water alarm and remote oil filter
• Engine oil and overheat alarm system
• Bow thruster with controls at helm
• Grunert dual 12-volt and engine driven refrigeration system
• Air Conditioning dual zones – 16,000 Btu in salon and 6,000 Btu in owner’s cabin
• Sea Recovery Aqua Whisper water maker, 31 gal/hour (2020)
• Freshwater pump new 2020
• Stainless steel 12-gallon hot water heater – engine heated/110 volt
• (4) Stainless steel water tanks 174 gallons total
• (2) Aluminum fuel tanks 173 gallons total
• Holding and grey water tanks (new pumps 2020)
• Tank level gauges
• (2) Vacuflush toilets
• (2) Electric 12-volt DC bilge pumps (new 2020)
• (2) Manual bilge pumps
• Emergency tiller system
• Fireboy automatic engine room fire extinguisher

SAILS & RIGGING

• Offshore Spars carbon fiber triple spreader mast (2020)
• Bamar carbon furling boom (2020)
• Harken MK 3 genoa furler (2020)
• Harken hydraulic backstay and boom vang (2020)
• Harken mainsheet traveler system
• Rod standing rigging (2020)
• All running rigging new (2020)
• 2:1 removable IFS/Staysail halyard with running backstays (2020)
• North 3Di Ocean 370 full batten furling mainsail (2020)
• North 3Di Ocean 370 furling genoa (2020)
• North Dacron storm jib (2020)
• (2) Lewmar 66 ST electric primary winches
• Lewmar 48 ST electric main halyard/mainsheet winch
• (2) Lewmar 58 ST secondary winches
• Lewmar 48 ST centerboard hoist winch
• (2) Lewmar 48 ST halyard winches

CONSTRUCTION & EQUIPMENT

This hull and deck are constructed from a hand laid laminate of blister resistant Vinylester laminating resin reinforced with a knit hybrid fabric of Kevlar/E-glass for strength against repeated impact. A balsa core is vacuum bagged into the laminate to provide the greatest degree of stiffness and thermal/acoustical insulation possible. The skin coat is chopped mat in low-shrink Vinylester resin to provide a superior surface finish and a greater resistance to water osmosis. The core is removed and the hull is massively reinforced with additional layer of fiberglass in such areas as the hull/deck connecting flange, centerline and keel, chain plates, rudderpost, and all through-hull fittings. AIRBORNE has external lead ballast with a fiberglass centerboard, and a skeg protected rudder. She draws 5’-10” with centerboard up and 11’-10” with centerboard down.

The deck is one piece fiberglass molding which incorporates a hybrid knit fabric of Kevlar/E-glass to reduce weight over core material of cross-linked, closed cell, PVC foam. Core is deleted and replaced with solid layer of reinforcing glass laminate in the way of major penetrations and high stress areas. The core is vacuum bagged to the outside skin using a special adhesive. The hull has a recess flange molded in to receive the deck that is then bonded and thru-bolted to form a permanent watertight, hull/deck joint. Interior bulkheads are then bonded to the deck using bi-axial fiberglass.

Hull is Flag Blue Awlgrip with gold cove stripe, single while boot stripe (all new 2020) and red bottom (new paint June 2023). Teak rub rail with stainless striker – port side new 2020.

Deck is white gelcoat with beige non-skid.

• Stainless steel bow/stern pulpits and stanchions with 27” wire lifelines, side gates and stern gate (all new 2020)
• Custom steam head fitting with bow roller
• Lewmar electric anchor windlass
• 60 lb CQR primary anchor with all chain rode and chain snubber
• Danforth anchor with rope/chain rode
• Fortress anchor with rope/chain rode
• Custom forward anchor locker with saltwater deck wash spigot
• (4) Deck hatches with varnished teak frames and plexiglass covers
• Varnished teak lazarette hatch
• (5) Stainless cowl vents with varnished teak dorade boxes
• Varnished teak toe rails, drip rails, grab rails, ensign pole, cockpit trim, drink holders and fold-up cockpit table (most exterior varnish stripped and re-built, in-process June 2023)
• Recessed stainless steel genoa tracks and toe rail genoa tracks
• Harken stainless turning blocks and misc hardware
• Stainless steel fold-down boarding ladder with teak tread built into stern pulpit
• Outboard motor bracket mounted on stern pulpit
• Forespar outboard motor davit
• Achilles dinghy with Yamaha 9.9 hp 4-stroke outboard motor
• Weblon dodger with rugged stainless frame and grab bars on back and side (new 2020)
• Bimini with drop-down stainless frame and connector to bimini (all new 2020)
• Molded steering pedestal with stainless guard
• Elkide-covered steering wheel
• Teak cockpit sole
• Cockpit cushions (2020)
• Harken bosun’s chair
• Misc spare parts
• Fenders and dock lines
• Horseshoe life ring on stainless steel bracket
• (6) Inflatable PFDs with harnesses
• Viking six-man life raft mounted on cabin top
• Ditch bag with flares, EPIRB and first aid kit
• Fire extinguishers

REFIT AND REPAIR SUMMARY

The following is a summary of the major refit and repair work completed by Brooklin Boat Yard in 2020:

• Port side hull fabrication/repair in Kevlar and balsa core
• Scarfed in new bulkheads and new Kevlar tabbing to hull
• New head and port side saloon: Total rebuild of head space and port saloon double bunk.
• All tanks removed, pressure tested, cleaned and reinstalled. New plastic holding tank
• Stripped all exterior paint. Sealed, primed, faired and repainted, bottom, topsides, boot and cove (Awlgrip)
• New toe rail on port side
• New eyebrow and handrails
• New Offshore carbon spar with Bamar carbon furling boom
• All new rod rigging 
• New Harken hydraulic backstay, vang and jib furler
• All new running rigging
• New North Sails: Boom Furling Mainsail 3Di Ocean 370 19,600 Dpi., Furling Genoa 3Di Ocean 370 19,600 Dpi., Storm Jib Polyester High Visibility 10oz Storm Orange
• All exterior varnish stripped and recoated with a base layer of West System 207
• All interior varnish redone, new sole varnish
• All interior deep cleaned before repairs were completed. The whole boat was washed out with hot water, mold killer, and lots of cleaning agents
• All systems were thoroughly inspected and replaced/repaired. If water touched them, they were replaced
• New generator
• Same engine, new transmission. Engine had all exterior components replaced and rewired
• Drive Train: new drive shaft, new PSS shaft seal, new coupling, new cutlass bearing, new prop

Electrical: All DC and AC wiring and components were replaced if touched by water. Overall, it was a 90% complete re-wire of the boat. The only pieces that remained were the electrical panels and battery switches

All new batteries and battery wiring

All new electronics package: Raymarine Axiom Pro S12, (2) Raymarine Aziom Pro S9, Raymarine Quatum2 Q24D Radar, 3 Raymarine i70s Sailing Instruments, Raymarine Wind Sensor, Raymarine Ev-1 heading sensor, Raymarine Speed and Depth Transducer, Raymarine p70s AutoPilot Controller and remote, Rudder Reference, ACU-400, Raymarine type 3 12v hydraulic linear drive, Raymarine Ray73 VHF, Raymarine AIS 700 class B transceiver, Standard Horizon HX890 Handheld VHF, Fusion Apollo RA770 stereo and remote, Poly-Planar MA-6500 speakers, Navionics Chart Chips, Iridium Extreme 9575 satellite phone

• New Harken electric winch on cabin top. All winches completely broken down, serviced, repaired, rebuilt
• New genoa track
• All new port windows
• All DC motors were replaced or re-built: windlass, alternators, starter motors, bow thruster
• All new charging equipment: wiring, regulators etc.
• All new wiring and plumbing: bilge pumps, reefer pumps, AC pump, fresh water pump,
• New Sea Recovery R/O watermaker
• New stern rail, pulpit, stanchions, and lifelines
• Built new laz hatch

Owner’s personal effects