Chicago-based Madison Industries has become the majority owner of Seakeeper Inc. Madison CEO Larry Gies called Seakeeper “innovative and customer-centric”, and said the new parent would work to preserve its culture. “Oh what a culture,” Gies added. “We are honoured to be a part of transforming the boating experience.”

Andrew Semprevivo, formerly Seakeeper’s chief operating officer, has been promoted to president and CEO. He will work with Seakeeper executives Bob Moser, vice president of manufacturing, and Rebecca Smitha, vice president of finance. Seakeeper co-founders Shep McKenney and John Adams will remain as minority owners and be involved with product development. McKenney will be chairman of Seakeeper’s board of directors.

“Our vision, leadership and incredible worldwide team will remain unchanged,” said Semprevivo. “Seakeeper is committed to engineering, producing, marketing and selling industry-changing products of the highest performance and quality, backed by the absolute best customer service.”

“It’s been 10 years since we shipped our first gyro, and we are celebrating by ensuring Seakeeper is poised for future growth and industry leadership,” added McKenney. “We’re very proud of Seakeeper’s past and are even more excited to plan for its future.”