Sail Magazine, by Wendy Whitman Clarke - Editor in Chief March 15, 2024
Peter Harken needs little introduction in the world of sailing. With his brother, Olaf, he started a shoestring business building collegiate and Olympic class dinghies (Vanguard Boats) in Wisconsin in 1968, which evolved into Harken Yacht Equipment after Peter created a new type of ball bearing block that changed the game when it came to trimming.
The rest is sailing industry history. Today, Harken Inc.’s wide range of deck hardware, hydraulics, vangs, winches, furling systems, blocks, and gear is found on boats all over the world, from club racers to the Olympic classes and IMOCAs, from cruising sailors to the America’s Cup and superyachts. The company headquarters in Pewaukee, Wisconsin, occupies a 175,000-square-foot building with a massive manufacturing floor where raw materials become finished products. Winches are built in another plant in Italy, and the company has divisions in the UK, Sweden, Australia, New Zealand, and Poland.
In 2020, Peter announced that he and Olaf, who had died the year before, had chosen to sell their shares to their employees and transition the business to an ESOP (Employee Stock Ownership Plan). “It’s well time to pass the baton to those who actually do the work,” he said announcing the decision. “Oh yeah, I’m an employee now, I have to come in on time!” He maintains an office and is rarely not in house, especially on the manufacturing floor, where he remains engaged in and fascinated by the latest technology and processes.
