Lyman-Morse Boatbuilding acquires Wayfarer Marine in Camden

Wed, 07/01/2015 - 9:45am

Story Location:
59 Sea Street
Camden, ME 04843
United States

    CAMDEN — Lyman-Morse Boatbuilding Company, of Thomaston, has purchased Wayfarer Marine, in Camden.

    “With this purchase, Lyman-Morse at Wayfarer Marine will now have the advantage of the infrastructure, expertise, reputation and culture of Lyman-Morse Boatbuilding,” according to a news release issued by Lyman Morse on Wednesday morning, July 1. 

    Wayfarer Marine employees were informed of the pending purchase on June 26. The closing took place in Portland on June 30.

    “We are very excited about joining the two crews to create a most talented group of marine experts,” said Drew Lyman, president of Lyman-Morse. “Wayfarer’s customers will benefit in a big way through economies of scale and access to Lyman-Morse’s depth of expertise and resources including our boatbuilding pedigree, Lyman-Morse Fabrication, our CNC machining department and Lyman-Morse Technologies. In addition, we recognize the benefits of having our name front and center in Camden, a place that for more than a century has been a destination harbor in the yachting world. We love the synergy of tying the two businesses together to create an even stronger world-class destination yard.”

    Lyman-Morse was started by Cabot and Heidi Lyman in 1978 after their world travels in the 1960s and 1970s, and is now captained by their son, Drew Lyman. Drew grew up in the marine industry and circumnavigated with his family on a Lyman-Morse built 49-foot sailboat from 1987 to 1990.

    Building on the historic 100-year-old Morse Boatbuilding Yard, Lyman-Morse has built more than 100 yachts produced in the United States, and has established itself as a quality service yard specializing in refits. The company’s 110 new construction projects consist of all types of materials, including aluminum, wood and composite construction.

    The combination of state-of-the-art infrastructure with some of the world's finest craftsmen has allowed Lyman-Morse to expand into areas outside the marine world, the release said. Recently Drew Lyman has steered Lyman-Morse into more diversification, with its composites shop becoming involved with the airline industry, U.S. Department of Defense, prototyping and many start up projects such as solar power re-generating units, and large scale solar arrays.

    Lyman-Morse Technologies is the research, development and prototyping division of the company. LMT works with architects, interior designers, business and home owners, and government agencies, including the Department of Defense, to meet most any needs. LMT fuses state-of-the-art electrical design with manufacturing approaches in an effort to bring diversified, innovative product solutions to the renewable energy market, private and public sectors.

    In addition, Lyman Morse Fabrication, led by Jonathan Egan, has increased its presence in New England with its custom design, engineering and metal fabrication. With a variety of specialized skills, LMF has landed significant projects for SUNY in New York, processing plant machinery, oceanographic research equipment, and a variety of other projects for respected New England companies.

    The Lyman family is also completing a 26-room boutique hotel in Rockland.

    Wayfarer Marine has existed in Camden for more than 100 years. The yard sits on nine-plus acres on commercial marine land and harbor, with 37 slips, 846 feet of dockage and mariners are literally steps away from downtown.  Wayfarer’s launch service provides transport to and from its 47 moorings. The service yard is equipped with w 110-ton Travelift, 80-ton Brownell trailer and nine climate-controlled work and paint bays.

    Camden and Wayfarer also have a long history of boatbuilding dating back to 1796, when Capt. William McGlathery sent “one ship and a schooner” down the ways eventually launching more than 70 vessels of all types, including brigantines, schooners, barks, etc. Wayfarer employed 1,800 people during World War II building minesweepers, rescue/salvage tugs and troop transports. 

    Lyman-Morse and Wayfarer have also enjoyed a long history of cooperation and friendship, making this acquisition a natural event, the release said.

    “The positive effect on the economies of Midcoast Maine and the marine industry will be a valuable asset,” the release said.

    Reach Editorial Director Lynda Clancy at; 207-706-6657