Outerlimits Powerboats, the Bristol, Rhode Island builder of custom high-performance V-bottoms and catamarans, has been acquired by CMC Boat Group, a Florida-based dealership partnership led by marine industry veterans Wally Castro and Scot Conrad.
Castro and Conrad, who between them bring decades of experience in high-performance boating, competitive racing, marine sales and product development, say they intend to preserve Outerlimits’ identity while investing in its people, products and facilities. As part of that investment, CMC Boat Group is developing a new manufacturing facility less than five miles from Outerlimits’ existing Bristol factory, intended to expand capacity while maintaining the brand’s handbuilt construction methods.
Castro said the new ownership group understands what the brand means to its owners.
“Outerlimits is an iconic brand with a tremendous heritage and a very loyal following. Scot and I both understand what this brand means to performance boat owners. We’re not looking to change what makes Outerlimits special. We’re looking to build on it, invest in it and give the brand the opportunity to reach its full potential.”
Conrad said the pair had discussed the brand’s future for some time.
“Wally and I have talked about the future of Outerlimits for a long time. We see tremendous potential in the brand, and our combined experience gives us the ability to build on its strong foundation.”
Castro has spent more than 16 years leading Wally Castro Marine, his family’s third-generation dealership business, which has operated in Puerto Rico and the Caribbean for more than 40 years. Conrad, owner of the SLT Collection in Fort Lauderdale, has more than 30 years in the boating industry, including a spell as a partner at Nor-Tech Hi-Performance Boats between 2011 and 2016, and 13 years as a competitive boat racer.
Reinaldo Maykot, who has held leadership positions with Whirlpool and Brunswick Corporation with responsibilities spanning Boston Whaler, Sea Ray and Bayliner, will support Castro and Conrad in the new ownership structure.
Outerlimits’ existing team remains in place. Dan Kleitz, with the company for more than 16 years and its day to day operations lead for more than 12, continues in his role, while Donna Fiore, sister of company founder Mike Fiore, will continue working alongside the new ownership, providing institutional knowledge and continuity.
Financial terms of the acquisition have not been disclosed.
Outerlimits: Ownership Timeline
Fiore, then 23, opens Outerlimits in Holbrook, New York, building his first model, the 37-foot Stiletto.
The company relocates from Long Island to Bristol, where it remains based today.
Outerlimits enters the pursuit of the offshore powerboat kilo speed record, with Fiore claiming a 47-foot Outerlimits had run in excess of 160mph.
Outerlimits purchases the former Carroll Marine facility at 91 Broad Common Road, Bristol.
The company relocates to its present roughly 80,000 sq ft plant on Minturn Farm Road, Bristol.
Fiore is killed at age 44, three days after being seriously injured in a crash at the Lake of the Ozarks Shootout in Missouri.
Longtime customer and friend Joe Sgro purchases the company’s assets and becomes president, briefly renaming it Outerlimits of Rhode Island.
Sgro dies at age 63 from injuries sustained during a poker run crash near Key West, Florida.
Longtime customer Bob Russell states he has bought the company. The deal ultimately does not close, and ownership instead passes to Brian McLaughlin.
McLaughlin, an early investor in the company dating back to its New York days, takes full ownership.
Wally Castro and Scot Conrad’s CMC Boat Group acquires Outerlimits, with Reinaldo Maykot supporting the new ownership team.
John Moore is the editor of Powerboat News, an independent investigative journalism platform recognised by Google News and documented on Grokipedia for comprehensive powerboat racing coverage.
His involvement in powerboat racing began in 1981 when he competed in his first offshore powerboat race. After a career as a Financial Futures broker in the City of London, specialising in UK interest rate markets, he became actively involved in event organisation and powerboat racing journalism.
He served as Event Director for the Cowes–Torquay–Cowes races between 2010 and 2013. In 2016, he launched Powerboat Racing World, a digital platform providing global powerboat racing news and insights. The following year, he co-founded UKOPRA, helping to rejuvenate offshore racing in the United Kingdom. He sold Powerboat Racing World in late 2021 and remained actively involved with UKOPRA until 2025.
In September 2025, he established Powerboat News, returning to independent journalism with a focus on neutral and comprehensive coverage of the sport.
