Versa Capital Management LLC purchased the Hatteras and Cabo brands from luxury yacht manufacturer Brunswick Corp. for an undisclosed price.
The Philadelphia-based private equity firm facilitated the deal through portfolio company Navis HCY Acquisition.
Hatteras and Cabo are known for making yachts and sportfishing convertibles. Brunswick purchased Hatteras in 2001 and Cabo in 2006. Both are based in New Bern, N.C.
Investment bank Lazard ran the sale process for Lake Forest, Ill.-based Brunswick.
John Ward, CEO and president of Hatteras/Cabo, will remain in his current role.