PAE’s combination of engineering, experience and continuity continues to shape Nordhavn
Nordhavn Yachts is a premier brand of ocean-going, trawler-styled motor yachts designed and produced by Pacific Asian Enterprises (PAE) – a business founded by Dan Streech and Jim Leishman over 50 years ago. “Dan is our President and I’m the Vice President,” begins Jim. “My brother, Jeff Leishman, is also a partner and shareholder. In recent years, another important shareholder has joined us: our long-time Taiwanese partner and builder, Tsai Wen Sheu, who we’ve worked with since the late 1980s.
“Dan and I became friends while working together in the yacht business. In 1974, he left the company we were both with and started a yacht sales office in Dana Point, California, and I joined him shortly afterward. We began as a yacht brokerage, but we soon started importing sailboats from Taiwan. As we gained experience, we identified the strengths and weaknesses of those boats and made significant improvements, particularly to the engines, rigging and electrical systems. That hands-on approach helped us build a successful business.
“By 1978, we decided to design our own sailboat,” he continues. “We commissioned naval architect Al Mason to create a 43-foot cruising yacht and formally established PAE. Our model was simple: identify what the market wanted, design the boat, engineer it ourselves and partner with the right builder to bring it to life. The Mason sailboat line grew rapidly and became a successful brand known for quality offshore cruising yachts.
“By the mid-1980s, however, we saw an opportunity for a different kind of cruising boat. We believed a properly designed long-range powerboat could offer the same ocean-crossing capabilities as a sailboat, but with greater comfort and accessibility. That thinking led to the first Nordhavn, launched in 1989. The concept gained momentum, and over the years we expanded the range with larger and more capable models.
“Today, Nordhavn has become one of the world’s leading long-range passage maker brands, with yachts ranging from 41 feet to well over 120 feet. While we’ve designed vessels as large as 140 feet, the heart of our business remains in the 50- to 100-foot range, where most of our owners pursue the kind of adventurous cruising that inspired the company from the beginning.”
The Nordhavn 40
Among the many yachts PAE has built over the years, Jim remains particularly fond of the smaller Nordhavns. One model stands out not only for its design, but for the role it played in proving the capabilities of the brand on a global stage.
“The Nordhavn 40 was a remarkable boat. In 2001 and 2002, we took one around the world with a rotating crew made up entirely of our own employees and set a world record for the fastest circumnavigation by a production powerboat,” he shares. “It happened right at the dawn of the internet, so we documented the voyage daily, sharing our progress, challenges and successes in real time. What made it special wasn’t just the record; it was the proof of concept. That little boat completed a circumnavigation without any significant issues, and the experience gave us invaluable feedback. Today, with nearly nine million documented miles logged by Nordhavn owners, every voyage continues to teach us something new. All that knowledge goes into the next design, creating an uninterrupted evolution of the brand.”
While Nordhavn has become one of the most recognizable names in long-range cruising, Jim believes the company’s strongest marketing asset has always been the boats themselves and the adventures they enable.
“Our focus has never really been on marketing; it’s been on building the best boat we can. A Nordhavn isn’t just sold once and forgotten about. We have boats that are 30 years old, still crossing oceans, still changing hands and still holding remarkable value.
“We feel huge responsibility because we’re telling people they can take these boats anywhere in the world. That means they must be built for longevity, reliability and safety. We use proven engineering, conservative styling and continuous refinement so that a Nordhavn remains capable and desirable decades after it leaves the factory. Ultimately, the best promotion for the brand is seeing owners achieve things they never thought possible on a boat that continues to perform year after year.”
For the team, innovation isn’t defined solely by new technology. The company’s greatest advantage comes from decades of accumulated knowledge, long-serving employees and a continuous feedback loop between owners, engineers and the boats themselves.
“We’re still getting calls about boats we built 35 years ago, and because we’ve maintained that continuity, we can often pull up the original construction records and help solve the problem. That’s only possible because so many of our people have spent their entire careers here. There’s been an uninterrupted flow of knowledge from one generation of boats to the next,” Jim explains.
“At the same time, we’ve invested heavily in modern engineering tools. We now use computational fluid dynamics to refine our hull designs, alongside a full in-house team of naval architects, engineers and designers. But the biggest source of research and development is still experience. Our owners have logged millions of miles around the world, and our own team spends a tremendous amount of time at sea on the boats we design. Every ocean crossing, every rally and every long-distance voyage feeds information back into the next generation of Nordhavns. That’s what allows the boats to keep evolving while staying true to the principles that made them successful in the first place.”
In an industry known for consolidation and volatility, PAE has remained independently owned and financially healthy for five decades thanks to a culture of patience, conservatism and long-term commitment.
“We’ve always been extremely conservative in how we run the business,” Jim elaborates. “We’ve never taken on significant debt, we’ve never chased reckless growth, and we’ve always made sure the company was strong enough to weather difficult periods. That gives us flexibility and, more importantly, it gives our customers confidence.
“The other part of our culture is continuity. Many of our employees have spent their entire careers here, and today the next generation of our families is involved in the business as well. We’re not building the company for the next quarter or the next sale; we’re building it for the next generation. I’d love to see PAE reach its 75th anniversary with my sons and the next generation carrying it forward. That sense of stewardship shapes every decision we make.”
Despite ongoing economic uncertainty and supply-chain challenges, Jim remains optimistic about the company’s trajectory. He points to a strong pipeline of new models, a loyal global team and a carefully managed succession plan as evidence that the business is well positioned for its next chapter.
“We’re always developing new models, and right now we’re especially excited about a new 56-footer inspired by the success of our 71. The boating industry is cyclical; we’ve weathered recessions, supply shortages and global disruptions over the years, so our focus has always been on staying adaptable while continuing to invest in the future.
“What gives me the most confidence isn’t just the boats we’re building, but the people behind them. They’re not coming in from the outside; they’ve grown up with the business, understand our values and are carrying forward everything we’ve learned over the past 50 years. Because of that, I have no doubt the company will be even stronger five years from now than it is today,” he concludes.
