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McMillen Yachts Inc. was founded by Earl McMillen III in 1992 following six years of extensive hands on classic yacht restoration. The purpose of the company was to restore and maintain classic yachts. In 1995, McMillen pioneered the concept of fractional yacht ownership in an effort to allow other people, with a similar interest and less available time, to participate and share in the passion.

To date, McMillen Yachts has restored nearly a dozen significant yachts and in the process has built the finest collection of classic American yachts in the world. Today, with offices in Newport, Rhode Island and Beaufort, South Carolina, McMillen Yachts is able to offer year round use of the yachts in the “fractionally owned” fleet anywhere along the coast of the eastern United States. During the summer months, the fleet bases out of Newport and cruises between New York and Maine. In the Spring and Fall, the boats cruise the Chesapeake Bay, Georgia and the Carolina coasts; and in the winter months they are based in south Florida and cruise both coasts, including the Florida Keys and Bahamas.