SAFE Boats Becomes 100% Employee-Owned Company

PUBLISHED APR 3, 2023 4:04 PM BY THE MARITIME EXECUTIVE

 

 

SAFE Boats International, a leading designer and manufacturer of aluminum watercraft ranging in size from 21 to more than 100 feet, has completed a transaction that transfers 100% of the company’s ownership to its employees. The SAFE Boats International Employee Stock Ownership Plan (ESOP) has acquired the company, completing the final milestone in a journey that started in late 2022. 

SAFE Boats has experienced dramatic growth since its beginning in 1996 and now has more than 250 employee-owners in two locations.  The company has been honored with several significant contract awards, including the USCG Response Boat-Small (540 boats), USCG Special Purpose Craft-Law Enforcement (58 boats), US Customs and Border Protection Coastal Interceptor Vessel (52 boats), and the flagship USN MK VI Patrol Boat (12 boats for the US Navy and 8 boats for the Ukrainian Navy). Each of these major contracts – combined with a loyal domestic customer base of more than 160 state and local agencies and international customers in 70 countries – has established the company as a leading and trusted designer and manufacturer of high-performance aluminum watercraft.

“It has always been our dream and our vision to make SAFE Boats International about our team and the community we live in,” remarked company co-founder Scott Peterson. “Transitioning to a 100% employee-owned company creates the foundation to become a true Northwest legacy. This allows an incredibly talented and dedicated SAFE Boats team to continue supporting the men and women in uniform around the world for generations to come.”

Richard Schwarz, CEO, said, “SAFE Boats’ success reflects the dedication and commitment of its team of talented craftspeople. Employee ownership through an ESOP is the ultimate opportunity for the company’s employee-owners to share in that success.  In the end, it is our team that makes our company what it is, and it is only appropriate that they benefit from the results of their contributions.”

SAFE Designs Autonomous Survey Boat for Jones Act Wind Market

PUBLISHED MAR 29, 2023 4:30 PM BY THE MARITIME EXECUTIVE

 

Washington shipbuilder SAFE Boats has unveiled its design for a new self-driving, turnkey hydrographic survey vessel, created in collaboration with autonomy startup Mythos AI. The vessel would be Jones Act compliant and purpose-built for the needs of U.S. offshore wind. 

Nauticus, Ocean Infinity and Reach Subsea have announced plans to build and charter out similar vessels as autonomous survey solutions, packaged with shoreside services. However, SAFE Boats believes that Merlin is unique: it is the industry’s first geophysical vessel that can be acquired directly from the builder with a fully integrated geophysical sensor suite designed around U.S. offshore wind. Sonar builder Echo81 participated in design development and would supply the sensors and aftermarket support.

The vessel will also carry navigation technology created by Mythos AI, a maritime autonomy provider. Mythos AI’s driver-assist systems are designed to automate geophysical workflows so that skilled hydrographers and crew are not required to be onboard the vessel, according to SAFE Boats. As the technology advances, Mythos AI plans to provide a "push-button, long endurance, dock-to-dock, self-driving and self-surveying solution for offshore wind."

SAFE Boats has already delivered one smaller hydrographic survey boat for Mythos AI for use in trials, demonstration and testing. 

SAFE Boats is known best for its military and law enforcement boatbuilding operations, which date back to 1996. It has 2,300 boats in service in 50 countries worldwide, including Ukraine, Nigeria, Colombia and Tunisia.