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Frank Butler founded Catalina Yachts in 1969, building the company into a prolific American manufacturer that produced over 85,000 sailboats, including the Catalina 22, the best-selling keelboat in history.▶ 4:02 Following Butler’s death in 2020 and the retirement of long-time designer Jerry Douglas, the company struggled with leadership transitions.▶ 6:53 In 2025, Michael Reardon of Daedalus Yachts acquired the brand, but his tenure resulted in a breach of lease, unpaid wages, and a 2026 bankruptcy that saw the company’s molds and tooling sold at a four-day auction.▶ 10:20 In July 2026, C&T Composites acquired the Catalina and True North brand names, appointing former Catalina president Patrick Turner to lead a restart of production in Largo, Florida.▶ 11:25 The new ownership plans to continue existing designs while launching a line called Explore Yachts.▶ 12:37 As of mid-2026, the company operates as a brand name with a core team of experienced staff, though it faces the challenge of restarting production after the total liquidation of its original manufacturing assets.▶ 13:39

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