Executive Resume

Ricardo Ruelos

Executive Resume-Curriculum Vitae


  • Proven ability to meet and exceed sales goals. More than 30-years of U.S. and International experience.
  • Communicate effectively with finance entities such as GE Capital, TEXTRON, and Bank of America, etc.
  • Interface with all levels of personnel and management, both nationally and internationally.
  • Acted as CEO and Board Member of companies publicly traded on the US Over The Counter Market
  • Excel as a troubleshooter: Effective in turnarounds and start ups
  • Proven expertise in crisis management, bankruptcy and chapter 11 proceedings
  • Expert knowledge and experience in successor liability, chain of ownership, and corporate structure.
  • Expertise and experience in venture capital procurement, merger and acquisition.

Please visit:  www.madisonbayholdings.com About Us & Business Development


2018:  Madison Bay Holdings, Inc. – CEO and Founder (Present)

Generate revenues as a contracted independent agent for various companies to provide the following services:

  • Merger and Acquisition Services
  • Direct Sales and Marketing Services and Consultation
  • Product Development, Design and Engineering Services
  • Development and Execution of Corporate Strategy in Conjunction with Business Planning
  • Direct Participation in Venture Capital Procurement
  • Financial Services that include Pro-Forma Income, Cash Flow and Sales Forecast Preparation

Madison Bay Holdings and Ricardo Ruelos has provided services and worked directly with the founders and management of some of the most prestigious and successful boat and leisure product companies in the world including: Westship World Yachts, MasterCraft Boats, Sealine Yachts, Century Boats, Supra-Moomba Boats, Fountain,  O’Brien Water Sports and other prominent world class companies.

2018:  Cape Dory Cruisers:  CEO– Own the assets, intellectual property and trademarks of Cape Dory Cruisers.  Currently working with investors to acquire an existing operating boat company and merge Cape Dory Cruisers into the operating company.

2017:  Florida Yacht Group:  Manager of MBA Division & Yacht Broker.  Created the new MBA Division with the goal of consolidating independent yacht brokers throughout the US.  Within less than three months 6 world class brokers have been recruited with immediate added listings for FYG in excess of $12 Mil. As a result of MB/RR services an entire new division and expansion has been created throughout the West Coast of Florida.  This new division has the capability to increasing FYG revenue by 30% to 60% within the next year or two.

 2011-2014 Westship World Yachts:  Engaged as CEO of Westship World Yachts and managed all aspects of operations, marketing and sales with the goal of building value in the company to create and exit strategy and ultimate sale of the company for the existing owner.  Westship World Yachts is a premier, world recognized manufacturer of luxury yachts ranging from 110 Ft. to 140 Ft. in length.  The company was shut down in 2007 due to the economic and industry downturn.

Within 90 days under Mr. Ruelos management Westship World Yachts was resurrected and all marketing and sales materials, website and boat show arrangements were completed to announce the new operations of Westship World Yachts at the Ft. Lauderdale Boat Show in 2011.  As a result of all activities over the past two years Westship is now positioned to be sold.

2011-2012: Sealine International Yachts-Oxford Investments-Vice President Sales North America & Asia:  Provided management and sales services to Oxford Investments to target and complete an acquisition within the marine industry.  In September, 2011 Oxford acquired Sealine International from the Brunswick Corporation.  Sealine International is a premier brand of yachts ranging from 35 ft. to 60ft. in size.  Worldwide revenues were $60 million with over 350 employees.  Following the acquisition Ricardo Ruelos and Madison Bay Holdings (MB/RR) provided sales services in America’s and Asia and succeeded in expanding distribution into China and Singapore generating added revenues in excess of $8 million USD within 120 days.   The establishment of a new distributor in Hong Kong and Singapore was crucial to the company success as Sealine would have been forced to file bankruptcy in the summer of 2012 due to the extreme demise of the European and UK markets throughout the 2012 season.

2009-2015:  Middle East Oil Corporation-CEO & President-Completed the sale of the public entity of Madison Bay Holdings, Inc., which was an Over the Counter, publicly traded company (MDBY: OTC: PK) to Middle East Oil Corporation (MDIH: OTC: PK). Served as CEO and board member.

2006-2011 Fish-Rite Boats, Inc:

  • Provided services to Fish-Rite Boats, a 29-year-old prestige manufacturer of “high-end heavy-duty” aluminum boats that range from 16ft- 34ft.  Although a well-established, successful company for many years Fish-Rite had experienced declining sales and profit losses during 2004 and 2005.
  • Fish-Rite contracted the services of Madison Bay Holdings to correct this situation and develop Fish-Rite into a worldwide brand.  Within a 10-month period the following accomplishments were acheied:
  1. Sales during the first five-months increased beyond a 20 percent growth rate.
  2. Factory production at that time operated at the highest rate in the company’s history.
  3. Responsible for the development and introduction of new series of Sea Storm Cruise & Fish Boats.
  4. The Fish-Rite dealer network has been increased by more than double with a much stronger dealer representation. New dealers were established on the East Coast, Midwest, Rocky Mountain States, Russia and Europe.

2000-2007 C-Dory Boats, Skagit Orca, & Olympic Boats: Former shareholder and Executive Vice President of C-Dory Marine. Provided services during 2001 through 2005 to C-Dory Boats.  C-Dory was an established niche company with limited sales of $1.9 million.  With the services of MB/RR flooring lines were established with 4 major finance companies which allowed for the growth of existing dealers and addition of many others.   The acquisition and merger of Skagit Orca Boats and Olympic Boats was also completed.  Within a 2 year period the dealer networked doubled, sales increased by over 250% (Over $5 Million) with a 6 month backlog of orders.

2004-KCS Industries-Shamrock Boats- Negotiated and completed the acquisition and merger of Shamrock Boat Company.  An option to acquire Shamrock was secured by Madison Bay Holdings, Inc. from KCS Industries, Inc. which owned and operated Cruiser’s Yachts, Shamrock Boats and Rampage Sport Fishing Boats.  Shamrock was ultimately sold to Palmer Marine.   

Kal Kustom Enterprises, Inc.: Kal Kustom was a diversified marine entity that owned and operated Reinell and Blue Water Boat Company. Kal Kustom also distributed, financed and represented Mercruiser Motors, Volvo Motors and several other boat and trailer manufacturers to include: Sanger Ski Boats, Ski Centurion, Crown Line, Subird and Malibu Boats.  Was instrumental in the growth and expansion of Kal Kustom, from a California entity to the dominant distributor and marketer of boats in the Western Region.  Provided direct sales and marketing services to Kal Kustom and increased sales more than  600% .within a two year period.

Ruelos & Read Construction: Founded and operated this company in Washington State and was involved in development of residential building sites from raw land purchased in the Redmond-Bellevue area the current home base of MicroSoft, Amazon and other high tech companies in the Seattle area.  Also acquired a waterfront lot on Lake Washington and constructed a 4,000 sq. foot personal residence valued today in excess of $2,500,000.

MasterCraft Boat Company: Acted as a distributor, independent agent and consultant to MasterCraft Boat Company during the development years when the company privately owned by the founder Robb Shirley.  Established a number of the first MasterCraft dealers throughout North America when the “Tournament” Ski boat industry was in the early development stage.

Solar Sport Manufacturing, Inc.- Founder and CEO-Solar Sport was established as garment manufacturer designing and producing “high end” beachwear that marketed to OEM accounts such as Connelly Skis, O’Brien Water Sports,

MasterCraft Boats, Sea Ray Boats and many other manufacturers.  Solar Sport acquired a UL Listing and Coast Guard approval and became the prime OEM supplier of life vests to virtually every water ski and water sport manufacturer in the US.  Solar Sport also marketed the Solar Sport brand of beachwear and life vests to sporting goods retailers, boat dealers and regional chain stores.

Fuqua Industries-Regional Manager and Consultant: Fuqua, a diversified conglomerate, which, prior to privatization and break-up during the 1980’s owned several leisure product companies and boat manufacturers such as Formula Boats and Pacemaker Yachts. During the involvement with Fuqua sales annual sales grew from $500 million to an excess of $2 Billion.

  • Provided consultation and sales services to the marine and water sport division.
  • Marketed products to boat dealers and sporting goods retailers internationally and throughout the U.S.
  • Trained and supervised more than 30 sales representatives and international distributors.

O’ Brien Water Sports-Vice President & Original Shareholder

  • Participated in all areas of the company while working directly with the founder Herb O’Brien during the start up and early growth years of the company.  Managed design, research, production and procurement of new products.
  • Directly responsible for the establishment of the O’Brien dealer network, which became one of  the best distribution networks in the marine and sporting goods industry.  Managed a team of over 30 sales agents throughout the world as the O’Brien dealer network grew to over 1,500 outlets that included several major chain stores such as Dick’s Sporting, Costco,  Herman’s World of Sports, Oshman’s  etc..
  • During a period of full responsibility for all business development, sales, & marketing O’ Brien International achieved a market share in excess of 65% and remains a leading brand in the water sport and water ski industry.
  • Operated as Vice President of the company and was instrumental in the completion of the sale of O’Brien to Coleman Corp., a NYSE Listed sporting goods conglomerate with sales in excess of $250 million.

Lakewood Ski School and Pro Shop:  As owner-operator generated revenues as a distributor and retailer of water skis and accessoriesAlso generated fees through the promotion and management of water ski  tournaments, boat races, ski shows, and ski lessons.


  • Awarded Sales Representative of the Year by Sports, Inc., a buying syndicate comprised of 500 outlets
  • Pioneered and introduced innovative products and concepts within the Marine Industry.
  • Participated extensively in the development, turnaround, and ultimate sale of O’Brien Skis to Coleman Sporting
  • Licensed Yacht Broker.
  • Former Pacific Northwest Water Ski Champion -Trick Ski Division
  • Completed Phoenix and Seattle Rock N Roll Half  Marathon



Seattle University, Bachelor of Arts, Business Administration   Major: Finance and Marketing

“Product Is Queen.  Distribution is King!”