Catalina Yachts

In 1961, Catalina Yachts founder Frank Butler (January 17, 1928 - November 15, 2020) took over the production of his own boat when his original boat builder ran out of funds and borrowed money from Frank; unable to repay the debt, the builder instead gave Frank the tooling to continue building the boat. Frank ended up taking control of the company, renaming it Wesco Marine and later Coronado Yachts. Many early Coronado 25 boats have the Wesco Marine nameplate on the transom.

Among the first models built by Coronado were the Victory 21 and the Super Satellite. In 1964, the Coronado '25 was produced, becoming the first boat with a one piece interior, making the boat stronger, lighter, and less expensive than previous models. By 1969 the Coronado 27 and 30 foot models were being produced. In 1969, Frank sold Coronado to the Whittaker Corporation which had already acquired Columbia Yachts; Whittaker continued the Coronado line until 1974 producing the Coronado 34 with the center cockpit models 35 and 41. Frank remained with Whitaker for only one year then left to begin Catalina Yachts.

The first model built by Catalina Yachts was a 22-foot design previously rejected by Columbia. By 1977, Frank had designed and produced three more models: the Catalina 25, Catalina 27, and the Catalina 30. The Catalina 22 and the Catalina 30 were both inducted into the now-defunct Sail America American Sailboat Hall of Fame in 1995 and 2001 respectively.

In 1978 Catalina developed the Catalina 38 based on molds for a Sparkman & Stephens racing design purchased from the bankrupt Yankee Yacht Company. Frank redesigned the interior, he gave it a "Catalina deck", a taller mast, a shorter boom, and moved the rudder.

In 1984, Catalina acquired Morgan Yachts and introduced the Catalina Morgan 440 in 2004, now discontinued. The other Morgan models, including the Catalina designed M381 and M45 center cockpit, were recently retired as well.

Acquisition, default, and liquidation (2025–2026)

In April 2025, Catalina Yachts was acquired by Michael Reardon, founder of Daedalus Yachts, under a provisional asset purchase agreement. Following the acquisition, Sharon Day retired from the company and Patrick Turner was appointed president. Concurrently, the sale sparked an internal civil lawsuit filed in California federal court between members of the Butler estate and legacy company executives over the handling of corporate assets.

Within months of the purchase, Reardon defaulted on the $1 million promissory note, $1.425 million in outstanding corporate payables, and rental payments for the manufacturing facility in Largo, Florida, which was still owned by the Butler family. In early October 2025, management publicly announced a "temporary production pause" citing short-term financial challenges. However, the facility was completely locked down after a Pinellas County court granted an eviction notice against Reardon on October 22, 2025, following a breach-of-lease lawsuit filed by the sellers.

The closure left the workforce abruptly unemployed and without pay; in February 2026, the Pinellas County Office of Human Rights found Reardon's holding company guilty of wage theft, ordering double financial compensation to affected workers. On January 30, 2026, a Florida Superior Court judge entered a $1 million default judgment against Reardon for the failed asset purchase.