Lynn Wagemann, of the Hacker Boat Company, Inc., based in Silver Bay has sold his interest in the company to Erin Investments, LLC, a holding company owned by George Badcock, a summer resident of Lake George.
Wagemann had been president and CEO of the company.
Wagemann bought the boat company in 2004 and sold an interest to Erin Investments in 2009. Badcock and Wagemann had been working closely together since Erin Investments bought into the company.
Badcock, who has been serving as chairman of the company, has also assumed the role of CEO.
Badcock said, “Lynn’s contributions to the company have been significant and he will be missed. We wish him continued success in his future endeavors.”
The company recently built a state of the art 32,000 square foot production facility in Ticonderoga and is actively recruiting dealers and representatives, world wide, to expand the brand. The Hacker Boat Company, founded in 1908, is the largest American manufacturer of mahogany motorboats.
Each Hacker-Craft is hand built by master craftsmen who spend over 1,500 hours of labor to build every boat. The company builds runabouts, sport boats, launches, tenders, racers and utilities, from 24 to 35 feet in length.