Velocity Powerboats Acquires Checkmate

By Gregg Mansfield

Florida-based Velocity Powerboats has acquired Checkmate Powerboats, continuing production of the storied performance-boat brand.

Velocity owner Scott McCormick and Checkmate owner Pete Caldwell formalized an agreement over the Fourth of July holiday weekend. Under the sale announced on July 7, all of Checkmate’s molds will move to Velocity’s Sanford, Fla., manufacturing facility, where the boats will be produced. Terms of the deal were not disclosed.

“I’m going to build it with the same high-quality materials and products that we use,” McCormick said. “I’m not going to try to make it the fastest, best performing boat in the world. I’m going to keep it to its original roots. It’s a great family style performance boat, and I want to keep it priced in that range.”

Caldwell, who bought Checkmate Powerboats in 2020, the move to Velocity will be good for existing customers and Checkmate’s dealership network.

“Scott (McCormick) has done a great job with Velocity,” Caldwell said. “I really feel that the way he’s building his boats are very comparable to same level of quality that the Checkmate customer is looking for.”

McCormick said they will continue to build Checkmate’s 21 Gambit, 2400 BRX and 26 Convincor, focusing production on the latter two. “I’m building those out of the gate because there’s existing orders in the queue,” McCormick said.

The Checkmates will be produced alongside Velocity Powerboats at the Central Florida facility. Velocity will use the same lamination-infusion techniques to build both brands.

“He’s taken Velocity in a good direction, and they do really nice custom work,” Caldwell said. “I feel it will be a perfect fit for the line.”

McCormick has experience in reviving legacy boat brands, having purchased Velocity Powerboats in 2018. Offering 14 models for sale, Velocity builds performance boats, center consoles and bay boats from 23 to 43 feet.

McCormick sees Checkmates as lake and river boats, while Velocity is focused on offshore boaters.

“Each boat brand has its lane, and that’s the lane that boat needs to stay in,” McCormick said. “Am I going to take the Checkmates and build them into offshore monsters and go out and race them? Probably not.”

McCormick and Caldwell started having discussions about selling Checkmate in early June 2025 after meeting through a mutual friend Del Flores, who runs the Spartan Powerboat Club.  Caldwell had a unique opportunity to return to Iconic Marine in Washington, N.C., where he started his boat-building career. Caldwell started Caldwell Marine Designs, which builds boats under contract for other manufacturers.

With Velocity taking over the Checkmate brand, McCormick will talk to Checkmate’s dealer network this week and could restart production in seven to 10 days. Both Checkmate and Velocity will continue to use Mercury Marine or Mercury Racing power.

“The tooling on the 24’ and 26’ is supposed to be all new and doesn’t need anything,” McCormick said. “If that’s the case, we can start building (Checkmates) right away.”

Caldwell will continue to assist during the transition by offering his expertise regarding lamination schedules, performance setups and assisting with the dealer network.

Velocity will take ownership of seven Checkmate hulls, but for now, it will focus on building a trio of models. McCormick plans to continue Checkmate’s philosophy of seeking customers who are new to performance boating or wanting more performance than a production boat.

“I want to try to keep performance boating affordable for everybody—the working man, everybody that wants a boat,” McCormick said. “I want everybody to have a beautiful performance boat without having to take out four loans just to get it.”