You will still see familiar faces when you stop by Bay Marine in Sturgeon Bay despite it being acquired by a Texas-based company this month.

Earlier this week, TopSide Marinas announced it has purchased Bay Marine, which has locations in Sturgeon Bay and Waukegan, Ill. The addition now puts TopSides Marinas in six states, covering ten locations. In their announcement, TopSides Marinas was complimentary of Mark and Matt Felhofer, who led renovation efforts of the Sturgeon Bay marina in 2022. “Matt and Mark Felhofer have built an impressive business at these two outstanding locations. We regard them highly and are excited to partner with them as they grow Bay Marine Yacht Sales to one of the largest yacht brokerage firms in the region,” said Jacob Boan, co-founder and Chief Investment Officer of TopSide Marinas. The Felhofers are not going anywhere as they will continue to own and operate Bay Marine Yacht Sales, which will lease back showroom and office space in Sturgeon Bay and Waukegan as a part of the agreement. Matt Felhofer says it is an exciting transition for the company and its team of 40 employees. “The marine industry has seen dramatic consolidation over the past several years, and TopSide Marinas presented a unique opportunity for us to bring in a partner that has the knowledge, expertise, and capital to take our existing service, storage, and marina businesses to the next level while allowing our sales team to focus on growing our key brands throughout the Great Lakes market.”

Picture courtesy of Bay Marine