Germain Automotive Group Takes Helm of SI Yachts
In a significant expansion into the marine sector, Germain Motor Company has acquired SI Yachts, a prominent leader in the yacht sales and brokerage industry in the Northeast. SI Yachts, initially known as Staten Island Yacht Sales, was established in 1964 by industry veteran Frank Bongiorno. Bongiorno, celebrated for his role in making the firm the world’s most enduring dealer of Viking Yachts and revitalizing the Staten Island Marina, is set to retire after a storied 60-year career.
Renowned for representing top-tier brands like Viking, Princess, Absolute, Prestige, Pardo Yachts, and Valhalla Boatworks, SI Yachts has seen considerable growth, with strategic locations in Jupiter (Florida), Newport (Rhode Island), Old Saybrook (Connecticut), and across five New York sites.
Germain Motor Company, with its roots tracing back to 1947 and founded by Warren Germain, a former personal accountant to Henry Ford, operates numerous dealerships across Florida, Ohio, Michigan, Arizona, and Montana. As a family-run entity now in its fourth generation, Germain Motor Company is synonymous with luxury automotive brands including Porsche, Jaguar, Land Rover, BMW, Mercedes, and Lexus.
This acquisition of SI Yachts follows a pivotal moment just two years prior when Zach Germain, CEO & Partner, initiated the Germain Yachts brand and secured a license to retail Pardo Yachts on Florida’s west coast. Since then, Germain Yachts has achieved impressive results and acquired a notable shipyard, formerly Mollys Marine, in downtown Naples, Florida.
Jay Hendrix, VP of SI Yachts, expressed enthusiasm for the acquisition, noting, “This collaboration with Germain presents a prime opportunity to further Frank Bongiorno’s legacy. Germain’s resources, technological edge, and team spirit will significantly enhance our operations at SI Yachts. We’re eager to broaden our scope in sales, service, and customer support with Germain’s assistance.”
Zach Germain remarked on the acquisition, “We’re thrilled to integrate SI Yachts into our portfolio, encompassing its esteemed brands, marina, and talented team. Our immediate plans include revitalizing the Freeport location in NY, expanding our presence in Montauk and Sag Harbor, and perpetuating the top-notch sales and service that have established SI Yachts as an industry frontrunner.”
The esteemed SI Yachts team, including executive managers Jay Hendrix and Michael Landolphi, will continue to lead the company forward. Stay tuned for the launch of a brand-new SIYachts.com.