This summer, Stiletto Manufacturing closed on a $12.5 million investment, a well-balanced mixture of equity and debt, creating significant momentum for the catamaran maker as it accelerates production of its groundbreaking new models, the Stiletto-X Series. Tony Zhang, President of Capital Nexus, LLC, explains, “Stiletto presents a solid opportunity for growth, leveraging a legacy brand and expert design, production and marketing strategies to become a real player in a market that continues to thrive year over year. We’re excited to be part of this journey.”
Funding allows for expansion of Stiletto’s manufacturing facility in Tyrell County, NC, with forecasted production capacity increasing to two or more boats per week and staff growing to 20-25 full time employees over the next year. This initial investment will also fund operating and marketing expenses as Stiletto grows towards its goals.
Stiletto Mfg. CEO Jay Phillips says, “I want to thank BlueDoor Capital Partners and, of course, Mr. Zhang for believing in our team and our product. We are fortunate to be surrounded by a community in Eastern North Carolina that can mobilize and support new and growing businesses.”
Stiletto X-Series In Demand
Launched in 2015, Stiletto Manufacturing has resurrected the beloved Stiletto Catamaran brand by embarking on a rigorous product development phase, proving design concepts through sea trials, and establishing charter locations to allow more people to experience the Stiletto-X. Engineering and production considerations, including tooling and initial plant preparation, are well poised to begin meeting demand through successful expansion. As multi-hulls continue to become a greater percentage of the market, Stiletto emerges as uniquely suited for today’s families and commercial operators, with early indicators suggesting a deep and loyal following.
Appealing to a generation of enthusiasts with fond memories of the classic Stiletto of the 1980s, the all-new Stiletto-X delivers dynamic performance and control at an accessible retail. With the overall recreational boating market experiencing an unprecedented upswing within this price point, Stiletto-X is positioned to appeal to boat buyers whose goals are broad – day outings and overnight sailing-camping adventures are all possible with Stiletto-X’s unmatched versatility.
Combining updated styling with the latest America’s Cup race technology, the new series fills a gap in the market with a design that balances speed with control. Ideal for lifestyle enthusiasts seeking a family-sized daysailer, Stiletto-X is truly beachable, easily trailered and accessible both in price and skill level needed. The series includes the fun and affordable Stiletto-X Ultimate Beachcat, the amenity-rich Stiletto-Xc Beachcat Cruiser and the high-performance Stiletto-Xf Foiler.
For a boat that has always been a memory maker, having three generations of multihull enthusiasts waiting for a solution like Stiletto-X makes its timing impeccable. The fun has only just begun.
