Sparkman & Stephens has announced that Donald Tofias, of Newport, RI, has purchased the iconic yacht design and brokerage firm. Tofias will assume the role of President of the firm, having purchased 100% of the assets. Tofias is a lifelong sailor and founder of the W-Class Yacht Company. His first boat was an Alcort Sailfish, purchased when he was 12 years old. Over the past 30 years, Tofias has owned and campaigned a Waldo Howland and Ray Hunt, Jr. Concordia yawl, a W. Starling Burgess cutter, and for the past 20 years, W-Class Racing Yachts, including the W.76 sloops, designed by Joel White, which will now be marketed by Sparkman & Stephens.
A naval architecture and brokerage firm founded in 1929 by Olin Stephens and Drake Sparkman, Sparkman & Stephens is involved with the design and engineering of commercial, military and recreational vessels. The firm also represents more than 800 crewed charter yachts around the world. “We intend to preserve the history of Sparkman & Stephens, while at the same time building and expanding on its great tradition in yacht design and brokerage,” said Tofias.
The company will be headquartered in Newport, RI. For more information, log onto sparkmanstephens.com.