U.S.-Aussie Team Finds Good Sailing

Americans and Australians aren’t always rivals on the water.

They may have been bitter enemies for the America’s Cup, but a Newport Beach builder of custom yachts has teamed up with an Australian company to make and distribute motor yachts.

On Wednesday, Spindrift Yachts of Newport Beach announced it is now distributing all sizes and models of yachts that were developed under the agreement.

Two years ago, Spindrift and Sydney-based Ranger Marine entered into the first joint venture agreement between a U.S. company and an Australian company for motor yacht development and sales. The Aussies agreed to provide naval architecture (or design of the mechanical interior) with the Americans contributing above-deck styling. Spindrift also became the exclusive North American distributor.

About $750,000 in development costs later, Spindrift is now selling the Ranger series of yachts in two styles--convertible and sun deck--and three sizes, ranging from 35 feet to 47 feet. And despite the price tag of $35,000 to $295,000 (plus options that can cost the buyer anywhere from $30,000 to $100,000 more), Spindrift says the new models are riding the crest of popularity.

Since distribution began 18 months ago, gross sales of the model have totaled more than $5 million for 11 yachts and nine yacht-orders, said marketing director Randy Bell.