Here’s what I know—as in what I can report with confidence—about Outerlimits Offshore Powerboats in Bristol, R.I. With the death of company president Joe Sgro in November 2017, the ownership transition has taken longer than anyone involved initially expected. Originally, longtime Outerlimits customer Bob Russell planned to take over the ownership reins. Now, it appears that when all the papers are finally signed the company will go back to one its original investors.
While confusing and perhaps frustrating to those with a burning desire to know the inside story, situations such as this are far from uncommon with privately held companies. Desires shift and plans change. Unforeseen complications arise. Nothing is final until the deal closes.
Here’s what I also know based on recent conversations with Outerlimits customers such as Dave Scotto, who has a new 50-footer with an extended cockpit currently under construction under at the plant, and the company’s Dan Kleitz. The company is still building boats. Stephen Miles of Stephen Miles Design has two in his Owensboro, Ky., paint shop, and when they’re finished they’ll be hauled back to Outerlimits for completion of their final details before delivery.