Grady-White Boats has announced a groundbreaking ownership transition designed to protect the company’s values, people, and commitment to quality for generations to come.

Longtime owner Eddie Smith is gifting control and ownership of the company to the Grady-White Boats Perpetual Purpose Trust and an affiliated nonprofit organization. This is the first ownership structure of its kind in the marine industry and one of the largest transitions of its type in the United States.

Grady White Boats Enters a Historic New Chapter

For more than 65 years, Grady White Boats has built its reputation on exceptional quality, customer satisfaction, and lasting relationships with its employees, owners, and dealers. Now, the legendary boat builder is taking a groundbreaking step to ensure those values remain protected for generations to come.

The new structure is designed to preserve the company’s independence, people first culture, and commitment to building world class boats without changing what customers know and trust about the brand.

A separate nonprofit organization will also be created to direct company profits toward education, healthcare, conservation, and community causes. This historic structure is the first of its kind in the marine industry and the largest transition of its type in the United States since Patagonia adopted a similar model in 2022

For current Grady White owners and those considering a new model, the message is clear: this is a new ownership structure, but it is still the same Grady White.

Preserving the Soul of Grady-White Boats

Eddie Smith purchased Grady White Boats in 1968 when he was just 26 years old. At the time, the company was approaching bankruptcy. Under his leadership, it grew into one of the most respected premium boat builders in the marine industry.

Throughout that growth, Grady-White remained focused on several core principles:

• Building world class boats without compromising quality
• Delivering exceptional customer satisfaction
• Caring for employees and sharing the company’s success
• Maintaining close relationships with customers and dealers
• Supporting communities and charitable organizations

Rather than selling the company without knowing whether those values would endure, Smith chose a structure created to protect them permanently with the goal was to care for the Grady-White team while retaining the soul of the business. 

                                Grady-White Owner Eddie Smith

What Is a Perpetual Purpose Trust?

A perpetual purpose trust holds ownership of a company to advance a clearly defined mission instead of maximizing returns for individual shareholders.

For Grady-White, the trust will help ensure that future decisions continue to reflect Eddie Smith’s founding principles. Its responsibilities will include protecting the interests of employees, customers, dealers, and the community while maintaining the company’s commitment to exceptional boats and customer experiences.

The trust will also preserve continuity at Grady-White’s manufacturing facility in Greenville, North Carolina, where the company has built its boats since 1959.

Is Grady-White Becoming a Nonprofit?

Grady-White is not becoming a nonprofit boat manufacturer. The company will continue operating as a private business under the control of a perpetual purpose trust.

Unlike a traditional sale or acquisition, the trust is designed to preserve the principles that have guided Grady-White for decades. A separate 501(c)(4) nonprofit organization will receive company profits and plans to support causes related to education, healthcare, conservation, and local communities.

This structure allows Grady-White to continue building premium boats while transforming its financial success into a lasting source of charitable support.

New Structure, Same Grady-White Leadership

Grady-White’s executive leadership team will remain in place under the new structure. CEO and President Kris Carroll and the existing team will continue leading the company and its operations.

Smith will transition into a nonoperational CEO emeritus role, where he will serve as an advisor and brand ambassador.

This continuity means Grady-White customers can continue to expect the craftsmanship, performance, innovation, and support that have shaped the brand’s reputation. The transition is designed to strengthen the company’s long term future without changing the qualities that owners value most.

Grady-White CEO Kris Carroll, and team

What This Means for Grady-White Owners

For current and future Grady-White owners, the announcement reinforces the brand’s dedication to long term stability.

The purpose trust will help protect:

• Grady-White’s uncompromising focus on quality
• Its people first company culture
• Manufacturing in Greenville, North Carolina
• Relationships with customers and authorized dealers
• Industry leading customer satisfaction
• Ongoing community and charitable support

The company will continue designing and building premium boats for offshore fishing, family cruising, coastal exploration, and everyday life on the water.

Shared Values Across Generations

As a family owned company serving boaters since 1945, Strong’s Marine understands the importance of protecting a company’s values across generations. Relationships, quality, customer care, and community support have also remained central to the Strong’s story for more than 80 years.

That shared commitment is one of the reasons we are proud to represent Grady-White Boats across most of Long Island and New York City. This new chapter further demonstrates that Grady-White is building more than exceptional boats. It is creating a lasting legacy centered on people, purpose, and responsible stewardship.

Jeff Strong and Ryan Strong aboard a Grady-White Boat in Mattituck, NY

Discover Grady-White Boats on Long Island

From versatile dual consoles and offshore ready center consoles to comfortable express cabin models, Grady-White offers boats designed for many different ways of enjoying the water.

Strong’s Marine is an authorized Grady-White dealer serving most of Long Island, including Nassau County, Suffolk County, the North Fork, Shelter Island, and New York City. Our team can help you compare models, explore available inventory, arrange a showing, and find the right boat for your lifestyle.

Explore Grady-White boats for sale at Strong’s Marine and discover a legendary boat builder entering an inspiring new chapter.