In a strategic move that strengthens a partnership years in the making, Justin Wagner—founder of Waves and Wheels in Lake of the Ozarks, Missouri—has officially acquired Doug Wright Powerboats. The high-performance catamaran manufacturer, based in Melbourne, Florida, will now operate under the name DWR/Doug Wright Powerboats.
Wagner’s acquisition comes after two years of close collaboration with Doug Wright Powerboats, during which Waves and Wheels outfitted several models—such as the 36-, 39-, and 42-foot catamarans—with unique performance and aesthetic upgrades. These limited-run “Waves and Wheels Editions” brought the builder’s signature hulls together with Wagner’s precision finishing and customization expertise.
The company was purchased from the stakeholder group that had secured a majority share in early 2022. Despite the transition in ownership, day-to-day operations at the Melbourne facility will remain unchanged. Doug Wright Sr. and Doug Wright Jr. will continue to lead production, with each hull making its way to Missouri for final outfitting by the Waves and Wheels team.
“I’m thrilled to be leading the next chapter of Doug Wright Powerboats with clear-cut encouragement and enthusiasm from the factory as well as support from the previous partners who were ready to pass the torch and move on to their next journeys,” said Wagner, who is in the process of developing 44 acres on the Shawnee Bend portion of Lake of the Ozarks into a luxury motor-coach resort with lake access and commercial space for Waves and Wheels and more. “From the day I walked into the factory, I 100-percent felt like I wanted to be a part of this. That doesn’t mean I thought I’d own the company one day; there was just an initial spark that convinced me to go all in with their team and their products. I told Doug, ‘Doug you’re an industry legend, whether you realize it or not. I want to promote that you are the man that’s designing these amazing hulls.’ It’s off the charts!”
This acquisition not only cements Wagner’s commitment to the Doug Wright brand but also sets the stage for future innovation and expansion. With one of the industry’s most respected design legacies now in his hands, Wagner is poised to lead DWR into an exciting new era—one where performance, design, and craftsmanship continue to set the standard in offshore boating.