Hatteras Yachts Appoints Outdoor Products Executive Kelly Grindle as New CEO

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Jan 23, 2017, 15:18 ET

NEW BERN, N.C., Jan. 23, 2017 /PRNewswire/ -- Hatteras/Cabo Yachts LLC ("Hatteras Yachts"), a world leader in the construction of convertible sportfishing and luxury motor yachts from 45 to 100 feet, has appointed Kelly Todd Grindle as the company's new Chief Executive Officer as of today, January 23, 2017. Mr. Grindle served most recently as President – Outdoor Products at Vista Outdoor Inc., in Overland Park, Kansas, a $2.3 billion designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets.

Gregory Segall, Chairman of Hatteras and CEO of its shareholder Versa Capital Management, LLC, said, "We are pleased to have recruited a senior executive with the industry knowledge and experience to lead Hatteras Yachts through its next phase of growth. Kelly Grindle is an acknowledged leader in the outdoor sports and recreational marine industries, and will have a positive impact on our ability to deliver the best quality yachts to Hatteras customers today, and to continue the company's long tradition of pioneering innovative design and technology in the future."

Mr. Grindle brings to Hatteras Yachts his extensive experience in the recreational marine manufacturing sector. Prior to Vista Outdoor Inc., he spent 15 years as Senior Group Vice President, Marine Electronics, Watercraft and Diving, at Johnson Outdoors, Inc. in Racine, Wisc., maker of such well-known brands as Minn-Kota, Humminbird, SCUBAPRO and Old Town. During his tenure at Johnson Outdoors, Mr. Grindle is credited with restructuring and turning around the Watercraft Division, as well as quadrupling the size of the Marine Electronics Group through strategic acquisitions and organic growth spurred by innovation.

Mr. Grindle said, "I'm excited to join an iconic American brand that is recognized as a leader in building highly coveted sportfishing and motor yachts. I look forward to working with the Hatteras team to drive new growth through innovation and exceptional customer service."

About Hatteras Yachts:
For over 58 years, Hatteras Yachts, has been recognized as a world leader in the construction of express boats, sportfishing convertibles and luxury motor yachts. Based in New Bern, NC, Hatteras has defined the industry and pioneered the production of large offshore fiberglass powerboats, starting with the introduction of its first model, Knit Wits, in 1959. Hatteras builds luxury motor yachts from 60 to 100 feet, sportfishing convertibles from 54 to 77 feet, and the 45 Express. For more information, visit www.hatterasyachts.com.

About Versa Capital Management:
Based in Philadelphia, Versa Capital Management, LLC is a private equity investment firm with more than $1.4 billion of assets under management focused on control investments in special situations involving middle market companies where value and performance growth can be achieved through enhanced operational and financial management. Versa has a diverse portfolio of North American businesses including Allen-Vanguard International, Bell+Howell, Bridgestreet Global, Polartec, SynCardia Systems, and Silver Airways. More information can be found at Versa.com.

SOURCE Hatteras Yachts