Correct Craft
| Company type | Private |
|---|---|
| Industry | Boat manufacturing |
| Founded | 1925 |
| Founder | Walter C. Meloon |
| Headquarters | Pine Castle, Florida , United States |
| Products | Powerboats for waterskiing, wakeboarding, wakesurfing |
| Owner | Ambassador Enterprises |
Correct Craft is an American manufacturer specializing in powerboats tailored for waterskiing, wakeboarding, and wakesurfing activities. Established in 1925 by Walter C. Meloon under the original name Florida Variety Boat Company, it holds the distinction of being the oldest family-owned and operated boat manufacturer worldwide. The company’s organizational framework comprises various subsidiaries, including Nautique, Centurion, Supreme, Bass Cat, Yar-Craft, SeaArk, Parker, and Ingenity boat brands, alongside Pleasurecraft Engine Group, Indmar Marine Engines, Velvet Drive Transmissions, Mach Connections, Merritt Precision, Osmosis, Watershed Innovation, and Aktion Parks.
History
Walter C. Meloon founded the enterprise in Pine Castle, Florida, initially calling it Florida Variety Boat Company. The firm was renamed Pine Castle Boat and Construction Company in 1930 before adopting the Correct Craft name in 1938. After incorporating in 1947, the company earned recognition during World War II by manufacturing hundreds of storm boats for the U.S. Army under demanding time constraints, which led to receiving an "E" flag for outstanding efficiency.
In 1955, Walter O. Meloon took over as president from his father. Two years later, a government contract to produce 3,000 boats caused financial difficulties due to rejected shipments and delayed payments. This situation forced the company to file for Chapter 11 bankruptcy protection in 1958. With financial backing from Torrey Mosvold and local investors, Correct Craft restructured and emerged from bankruptcy by 1965.
The company made a significant breakthrough in 1961 with the launch of the Ski Nautique—the first fiberglass tournament inboard ski boat—designed by Leo Bentz. This model became a cornerstone of Correct Craft’s market presence and strategic focus. By the mid-1990s, Ski Nautique boats served as official towboats for prominent wakeboarding competitions. Key partnerships included a 1986 agreement with SeaWorld and an exclusive distribution deal with Suzuki for the Japanese market in 1995.
In 1997, Correct Craft introduced the Total Surface Control (TSC) hull design, which brought innovation improvements across multiple Ski Nautique models.
Ownership transitioned in 2008 when the Meloon family sold their shares to Ambassador Enterprises. Under CEO Bill Yeargin’s guidance, Correct Craft expanded through acquisitions and diversification efforts. Aktion Parks, a subsidiary acquired in 2012, took ownership of the Orlando Watersports Complex and subsequently developed the Miami Watersports Complex to extend its international footprint.
From 2014 through 2016, Correct Craft pursued rapid expansion by acquiring several entities: PCM Marine Engines, Crusader Engines Inc., Levitator Performance Airboat Engines (which together formed Pleasurecraft Engine Group), Bass Cat Boats and Yar-Craft brands, Centurion Boats and Supreme Boats based in California, as well as SeaArk Boats located in Arkansas.
In late 2022, Correct Craft further bolstered its industry position by acquiring Indmar Marine Engines—the largest privately owned manufacturer of gasoline-powered inboard engines supplying brands such as Tigé and Moomba—and Pacer Marine Engineering. These strategic acquisitions significantly enhance Correct Craft’s vertical integration within marine engine production while broadening its overall product offerings.