Initiated in 2011, the lawsuits brought by Baja Marine against Reggie Fountain, and Reggie Fountain against Baja Marine, have been dropped by both parties. In mid-January, John Walker, the chief executive officer of Baja Marine, and Reggie Fountain, the Fountain Powerboats founder, met in Fountain’s home in Washington, N.C. The mutual agreement they reached ends four years of often bitter and acrimonious legal wrangling on everything from trademark infringement to the ownership of offshore racing trophies.

Said Fountain (on left) shown here with longtime friend and former customer Michael “Doc” Janssen, on the mutual agreement to drop the suits, “I thought it was a good way to end our hostilities.”

“It’s nice to have it behind us,” Walker said. “We’re neighbors, after all.”

No longer in the powerboat business, Fountain said that he, too, is pleased to have his legal issues with Baja Marine, the parent company of the Baja, Donzi, Fountain and Pro-Line brands, behind him.

“I had my lawyers—I have a law degree myself—look at it (the mutual agreement to dismiss the lawsuits) and I thought it was a good way to end our hostilities,” Fountain said. “I am glad that it’s over with.”

Fountain, who is 76 years old, said that he has no immediate plans to reenter the marine industry. His said that his current income comes primarily through real estate holdings he acquired during the years while running the sportboat and center console company he founded.

“I am looking at some opportunities,” Fountain said. “In spite of eight boat wrecks, the good lord has blessed me with good health. Right now, it’s safe to say there’s nothing immediate in the works but we’re looking at some stuff.

“From 1979 to 2009, we did over $1 billion in sales, sold 10,000 units, and I am proud to say I enjoyed spending every penny of it,” he added. “We went around in jets and helicopters and stuff, but mostly we spent it on testing and improving our boats, and offshore racing.”

Asked if the dropping of both suits paves the way for Mr. Fountain’s return to the company, Walker said, “We’re leaving that possibility open.”