A Legacy of Excellence

2026 marks Thunderbird/Formula’s 70th anniversary in the production of fiberglass powerboats.

Published: Friday, April 10, 2026 9:00 am

A family-owned company located in Decatur, Indiana, Formula boats are world-renowned for beautiful styling, advanced engineering, and exciting performance on the water. With a long-established philosophy of uncompromising quality in every detail, Formula is recognized as today’s premier powerboat. Company history reflects the constant evolution of forward-looking products in the FAS³Tech® hull, trendsetting Crossover, Bowrider, Sun Sport, and Center Console lines.

The guiding force behind Formula’s vision of excellence is the Victor B. Porter family. Until his passing in October of 2021, Vic Porter held the office of Chairman Emeritus of Formula Boats. Now, four sons and a daughter actively manage the business, with third-generation Porters working in the business as well, and the fourth generation has joined the workforce as summer help.

Thunderbird was founded by Woody Woodson in 1956 in the Miami, Florida area with Richard C. Cole as the original designer. Decisively proving its staying power and stability, an 18-foot Thunderbird made the first successful sterndrive crossing from Miami to Nassau in 1959.

In 1958, Vic Porter began building small fiberglass runabouts in Decatur, developed early in marine fiberglass technology. With Porter as President, the line was marketed under the Duo, Incorporated name. Because of its timely product and increasing popularity, Starcraft, a larger regional boat manufacturer, purchased Duo in 1966 and Porter stayed on as president for a time.

Meanwhile, Don Aronow founded Formula, the first of Aronow’s boat companies, in 1962 in Miami. The original 233 deep-V hull design was built at his direction and later earned notable victories on the national offshore racing circuit. In 1961, Thunderbird was acquired by Alliance Machine and Foundry, which then purchased Formula in 1964. An Atlanta-based conglomerate, Fuqua Industries, acquired Thunderbird/Formula in 1969.

Vic Porter once again exercised his entrepreneurial spirit in 1970, founding the Signa Corporation with five business associates. With Porter as President, Signa’s growing success attracted the attention of Fuqua Industries. Fuqua’s offer to buy Signa was accepted in 1973 and, based on his expertise in the boating industry, Porter was named President of Fuqua’s entire small-boat division.

In 1976, Vic Porter purchased Thunderbird/Formula from Fuqua. The second generation of Porters joined in the management team as they finished their college work and gained experience in the business. The tri-hull design was discontinued in 1979, and company emphasis centered on the offshore deep-V hull configuration of the Formula models.

In March of 1988, Thunderbird/Formula departed South Florida and consolidated corporate and production headquarters in a brand new, state-of-the-art facility in Decatur. Formula continued to grow and evolve in the 345,000-square-foot plant, and in September 2000 production capacity was expanded with a 143,500-square-foot addition and again in 2006 with an 85,000-square-foot addition. All operations are now under one roof in a 575,000-square-foot facility, ensuring ongoing collaboration in creating each boat. From facility additions to the development of new boat lines, Formula has led with imagination and integrity as today’s premier powerboat.