Less than a month after a Florida-based private equity firm bought the last independent ferry service serving Mackinac Island, its longtime leader is no longer at the company, the new owner announced today.
Jerry Fetty, former CEO of Mackinac Island Ferry Company (formerly Star Line), left the company this week, according to the head of Hoffmann Marine. The fleet-owning firm is part of the Florida-based Hoffmann Family of Companies which purchased the ferry service at the end of June. It also owns the ferry company’s former competition for island passenger service, the Shepler’s ferry business. Hoffmann purchased Shepler’s two years ago.
Hoffmann Marine President Jenny Gezella told the St. Ignace News for a story today that Fetty was no longer with the company, and that staff were told about his exit on Wednesday. She said Mackinac Island Ferry Service wished Fetty the best, thanking him for his years of service. Fetty had been CEO since 2013.
The newspaper reporting this leadership change is owned by Hoffmann Michigan Media Group, also an arm of the Hoffmann Family of Companies.
Gezella said Mackinac Island Ferry is now being run by Chris Shepler during this transitional period. Shepler also was tasked with the day-to-day running of Shepler’s ferry service after his family’s company was sold to Hoffmann in 2022.
An aerial image of Mackinac Island Ferry Company vessel heads toward the harbor of Mackinac Island, Mich. on Friday, May 17, 2024. Joel Bissell | MLive.com
Gezella told The St. Ignace News that the two companies will remain separate. However, there is internal cross-over, as shown by a recent move.
In a letter to Mackinac Island city officials dated July 11 and later shared online, Shepler’s ferry service said anyone currently holding a 2024 Mackinac Island Ferry Company season pass, resident pass or commuter tickets is now able to exchange them for similar access via the Shepler’s Pass Holder and Commuter Card Exchange Program.
Once the island resident or island worker/commuter makes that pass switch to Shepler’s, they would no longer be able to use their pass on any Mackinac Island Ferry Company boat, according to the letter.
The private firm also purchased the island’s Sip n’ Sail boat cruise company earlier this year.
When announcing its Mackinac Island Ferry Company purchase in late June, the Hoffmann Family of Companies put out a statement emphasizing how buying this second ferry company expands their firm’s lucrative holdings in the Mackinac area, including the island, St. Ignace and Mackinaw City.
“With this expansion, HF Companies now owns more than 116 parcels of land, including docks in Mackinaw City, Mackinac Island, and St. Ignace, 51 buildings and 6,500 parking spaces,” the company said. “This makes the company the largest owner of real estate parcels in the area and employer to 500 people in the Mackinac area.”
At the time, Hoffmann’s CEO said Gezella would remain on the island this season to ensure a good transition. Between the two ferry companies, there are about two dozen boats that are in daily service.
Mackinac Island Ferry Company also has the Mackinac Marine Services shipyard, set up in 2019, under its marine umbrella. With this second ferry company acquisition, it brings Hoffmann Marine’s fleet to 46 vessels stretching across seven states.
The Hoffmann Family of Companies’ owners have backgrounds in real estate and private equity investments. According to the company, it has 9,000 employees spread across its business interests in 30 countries. This includes a wide array of holdings like Hertz Arena and the Florida Everblades hockey team, and vacation-based transit companies like The Naples Princess & Miss Naples boats and Naples Transportation & Tours.