Legendary offshore performance boat manufacturer Velocity Powerboats has been purchased by two Tampa-based businessmen, Brad Resch and Scott Tubbs. Resch is the president and CEO while Tubbs is the Vice President of Sales and Marketing. The transaction was finalized July 31. Velocity founder and former president Steve Stepp will remain with the company full-time for six months and then part time for 1 ½ years. The company’s popular sales manager Kenny Hohwiesner will also remain with Velocity.
“We’ve got a real love and passion for boating and we’re going to take that experience and passion and creativity for boats,” said Resch. “I think I’ve got some neat ideas and contributions along with Steve’s ideas.”
Stepp will continue to develop new models. The company will build performance models on order, but is focusing on more versatile models after the popularity of the 26’ bay boat called the VR-26. Next up is a 20’ Bay Boat, followed by a center console ocean going version of the 26’ model and eventually a 40’ center console. There are no plans for Velocity to build a stepped hull.
“It seemed like a great opportunity to get into the business and take the world record hulls that Steve has and grow and expand upon the business,” said Resch.
The company will remain in Sanford, Fla., but will move to the old Cobia Boats facility, which is a 20,000 square-foot factory with the taller doors that can more easily accommodate boats with T-tops.
Resch’s business background comes from his family’s successful roofing supply business in Tampa. Tubbs has background in sales and management and has held executive positions with companies including Sally Mae.
On the boating side, Resch and Tubbs were both performance boaters. Tubbs had a Cigarette 38 Top Gun and Resch owned a Baja 30 Outlaw. They spent many weekends hanging out and boating in the Tampa area. “We’ve been avid boaters our whole lives,” said Resch.
From Stepp’s perspective, he appreciates that someone with Resch’s enthusiasm and resources has taken the helm at Velocity. “It’ll be exciting because it seems like Brad has the money to do it and he’s excited about doing it,” said Stepp.