MJM Yachts is a luxury yacht manufacturer founded in 2002 by Bob Johnstone, who also co-founded J/ Boats, Inc. in 1977, the world’s leading brand of performance sailboats. In 2019, MJM was sold to Bob Johnstone’s son, Peter.
MJM Yachts has been known for its high-tech, post-cured, epoxy infusion process, which has led to lighter, stronger, and more durable composites, resulting in impressive performance and fuel economy. The company faced several operational challenges during the pandemic, supply chain, and factory start-up, but managed to double its output. In 2021, MJM started production in its new factory in North Carolina.
Image MJM Yaughts
The formation of Seolta Holdings will enable MJM to further increase its output and sales growth to meet the increasing demand for its products.
Saothair Capital Partners is committed to providing the necessary investment to further grow MJM’s prominence in the industry. The company’s reputation for quality, performance, and design has established it as a leading producer of luxury yachts.
Kevin Madden, Co-founder, and Managing Partner of Saothair, said, “We are thrilled to embark on this new chapter for the MJM brand.” 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.”
Peter Johnstone, the son of Bob Johnstone, has been appointed as the President and Chief Executive Officer of Seolta. The Saothair team brings invaluable expertise to the MJM team and its next chapter as Seolta Holdings. The company’s high-performance, cutting-edge processes have been showcased at various boat shows. MJM Yachts is expected to continue to grow and innovate with the support of Saothair Capital Partners.
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