Cigarette Racing Team has new ownership after Lionheart Capital and billionaire entrepreneur John H. Ruiz teamed up to purchase the high-performance powerboat brand.
Since its inception in 1969 Cigarette Racing Team has developed a reputation for building custom-made, hand-crafted, high-performance powerboats. Recently it has collaborated with 2019 World Superyacht Award winner Giorgio Cassetta on its flagship Tiranna 59’.
Skip Braver wished the new owners all the best on handing over the company he had been owner of for 20 years: “After 20 years of building the Cigarette product line and brand, I look forward to seeing Ophir and John’s vision for the company become a reality.” he said. “Lionheart Capital and John H. Ruiz share my commitment to quality and performance, as well as my passion for Cigarette's brand, and I'm confident in their ability to take the company to even greater heights based on their own successful ventures, resources and business knowledge.”
“Ophir and I both are excited about Cigarette Racing and what we can contribute to the company,” said new owner John H. Ruiz. “I have been an avid fan for decades. I personally own numerous Cigarette hand-crafted powerboats and believe that the brand is on the verge of a new wave of acceleration. Cigarette Racing is such an iconic American name in the world of boating, that it is truly an honor to be a part of the continuation of its legacy that’s been going strong for over 50 years and look forward to taking it into unchartered waters.”
The Miami-based brand offers a variety of models ranging from 11.4m (37.6ft) to 18m (59ft), all known for high speeds, iconic styling and a high level of owner customization. Notable owners have included George Bush Sr, the sultan of Brunei and the Princess Caroline of Monaco. The brand gained further popularity when its powerboats were regularly seen in the hit 80s US crime series Miami vice.
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