Off The Hook Ys Inc. is a premier yacht and boat dealership specializing in the buying, selling, and wholesaling of yachts and boats. Founded in 2012 by Jason Ruegg, the company has grown into the largest marine wholesaler in the industry, recognized for its innovation, expertise, and expansive operations. Over the past decade, OTHYS has become a nationally recognized leader in the marine industry, earning accolades such as inclusion in the Inc. 500 list of fastest‑growing companies and consistent ranking as a Top 100 Dealer by Boating Industry magazine. The company operates from 8 locations across North Carolina and Florida, supported by a team of 35 sales representatives who transact on more than 400 vessels each year, generating over $90 million in annual boat and yacht sales. OTHYS emphasizes a culture of integrity and passion for the boating community, aiming to provide seamless transactions for buyers, sellers, and industry partners.
OTHYS generates revenue through multiple interconnected channels. Its core activity is the sale of pre owned and new boats, where the company acquires vessels at competitive prices and resells them to retail customers and wholesale dealers. The WeBuyBoats.com platform provides instant cash offers to boat owners, streamlining the selling process and feeding acquired inventory back into the sales pipeline. Through its subsidiary Azure Funding, OTHYS offers financing solutions that include traditional boat loans, short term lending, and alternative financing options, earning interest and brokerage fees while facilitating purchases for consumers and dealers. Marine servicing and maintenance are performed by OTH Yacht Services, which handles routine upkeep, repairs, detailing, and mechanical inspections, generating service revenue. The Marine Asset Recovery (MAR) division assists lenders with boat repossessions and resells recovered vessels, creating additional inventory and fee income. Auction services through the Boats and Buyers platform enable rapid liquidity of aged or distressed inventory, producing transaction fees. Upcoming warranty and after sale programs plan to offer extended coverage contracts, contributing premium income. Finally, planned marina acquisitions will provide docking, storage, and service slip rentals, adding recurring revenue streams. Together, these diversified offerings produce income from retail buyers, wholesale partners, financial institutions, and individual consumers.
OTHYS holds a strong position in the marine wholesale and retail market, distinguished by its vertically integrated business model that combines sales, financing, servicing, and repossession. This integration allows the company to capture value at each stage of a boat’s lifecycle, a capability that traditional dealerships and independent brokers lack. While the industry features numerous competitors ranging from large national marine retailers to independent boutiques and online marketplaces, OTHYS differentiates itself through its extensive dealer network, proprietary technology platforms such as WeBuyBoats.com, and partnerships with major lenders including Shore Premier, M&T Bank, BMO, Truist, and LightStream. The company’s ability to acquire inventory at below market prices via distressed trade ins and floorplan financing gives it a cost advantage that translates into competitive pricing for customers. Furthermore, OTHYS’s focus on relationship‑building and client satisfaction has yielded high repeat‑business rates and strong brand recognition among boating enthusiasts. Its expansion into new boat sales, warranty products, and marina operations is expected to deepen its moat and support sustained growth in a fragmented yet expanding sector.
The company serves a broad customer base that includes individual boat buyers and sellers seeking reliable transactions, dealers and brokers looking for wholesale inventory to stock their lots, financial institutions requiring asset recovery and refinancing solutions, and industry partners interested in financing platforms or auction channels. Specific partner names referenced in the filing include Yellowfin, Nor Tech, Shore Premier (Centennial Bank parent company), M&T Bank, BMO, RecFi, La Victoire (Axos Bank parent company), Medallion Bank, U. S. Bank, Grasshopper Bank, Fifth Third Bank, Bank OZK, Merrick Bank, Truist, and LightStream. In addition to these institutional relationships, OTHYS works with a nationwide network of independent brokers who access its inventory through floorplan financing and benefit from its CRM driven lead generation. The company’s geographic reach spans the East Coast, with concentrations in the Carolinas and Florida, allowing it to serve both recreational enthusiasts and high net worth clients pursuing luxury yachts and performance vessels.