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V O L . X X I N O. X X I V O C T O B E R 1 9 , 2 0 1 5 26 S ales of new boats at Morris Yachts plummeted when the recession hit in 2008. But with a surge of customer interest and new contracts coming in, owner Cuyler Morris and new president Pete Carroll are optimistic about the future. "Since Aug. 1, we've done 33 test sails," Morris says. "at's more test sails than we've done in three years. I'll remain optimistic." Of course, when the economy sours, boats are among the first discretionary items consumers stop buying — and that was the case with the recession. In 2007, the Morris yard in Trenton produced 21 or 22 new boats. e com- pany continued to build small numbers of boats in each of the following lean years, with production hitting a low of four boats in 2014. Staff levels fell from 130 in 2007 to about 25 today. At the same time, the business of storage and service remained a steady source of revenue. Sites in Northeast Harbor, Tremont and Southwest Harbor have served a fleet of 120 to 130 boats. Morris has another site in develop- ment in Trenton. Like other builders that made it through the recession, Morris considers storage and ser- vice one of several elements that has kept the company solvent, along with maintenance of infrastructure work. is past July saw several develop- ments aimed at moving the company forward. e hiring of a new president, Pete Carroll, a retired Coast Guard commanding officer and engineer with an MBA from the University of Michigan. e sale of the Bass Harbor boatyard, which was also a stor- age and service facility. An agreement with Handy Boat Marina, a Falmouth boat yard founded in 1934. e deal made Handy a Morris Yacht Service Center both for Morris and non-Morris customers. e agreement allows Handy to license the Morris name for its service business, with Morris training Handy technicians for the particular type of care associated with the Morris brand. In return, Morris receives a percentage of rev- enues and has a presence in an area with a large boating population. At the same time, Morris has been considering queries from potential investors and buyers. "Because of the storied history of the company and the quality of the brand, we get inquiries from customers and groups all the time about investing in the company," says Morris. "We've been exploring some avenues and opportunities." Investment in new product develop- ment is a top priority, he says. "e product development required in order to stay relevant today is more fast-paced than ever," Morris says. "And the resources required in order to stay current — new designs and tooling — 30 years ago cost a fraction of what it is these days. at's where some investment could fortify our ability to stay ahead." Morris Yachts is a well-known name in the world of high-end, luxury sailboats. It got its start in 1972, when founder Tom Morris, originally from Philadelphia, moved to Southwest Harbor, having spent childhood summers sailing in nearby Northeast Harbor. He started out finishing fiberglass friendship sloops. He eventually built a shop and began producing sailboats, ranging from 26 to 51 feet long, designed by naval architect Chuck Paine of Tenants Harbor. ese included the Ocean Series — high-end performance cruisers that are still avail- able — and so-called "heritage" yachts that are no longer in production. Tom's son Cuyler joined the com- pany in 1995. Together they expanded the service side and boatbuilding capacity. Cuyler became president of the company in 2001, while Tom served as company ambassador and delivery skipper until his death in 2008. In 2004, the company part- nered with naval architecture firm Sparkman & Stephens to introduce the M-Series sailboat — a "classic design with modern performance innovations" — designed both for day sailing and offshore cruising. e first, the M36, was launched that year and was followed by lengths from 29 to 52 feet. By 2008, the company had sold 73 M-Series yachts. But, as was true industry-wide, orders went into a steep decline and about half the workforce was laid off. Some were hired back in 2010, when the company won $7 million in contracts from the U.S. Coast Guard Academy in New London, Conn., to build eight Leadership 44 training vessels designed by Pedrick Yacht Designs in Newport, R.I. New orders for other boats were coming in as well, including four M36s delivered to Australia, Chicago, Islesboro and Bar Harbor. By 2011, the company hired its first CEO to run business opera- tions and finances. Morris Yachts, which has experienced the ups and downs of the luxury yacht industry, is seeing an increase in interest in its boats. Pictured here is a 42-foot, M-Series sloop, rounding the Bear Island Lighthouse off of Mount Desert Island. Testing the waters Morris Yachts seeing increased interest from potential customers B y L a u r i e S c h r e i b e r P H O T O / C O U R T E S Y M O R R I S YA C H T S F O C U S

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