Wikan Enterprises, Inc. still for sale

Wikan Enterprises, Inc. is still on the market.

Owners John and Sheri Wikan plan to retire on Oct. 18, John's 75th birthday. The Wikans are looking for a successor to continue their diesel marine engine parts and repair shop that has operated out of Petersburg for over three decades.

"Our intention and goal with the sale is to find somebody that can continue the business so that our fishermen have service. That's what we want," Sheri told the Pilot. "But with that being said, if we can't find somebody to buy the business then we'll have to liquidate, sell the building to whomever."

Although the Wikans do not want to sell off the shop's inventory, they told the Pilot that their retirement fund relies on this sale.

"We don't want to do that," Sheri said of liquidating the inventory. "We want to have a diesel engine repair shop in town."

"Otherwise somebody else's gotta start all over like we did, and it's pretty hard to do," John added.

John has been in this line of work since he was 18 years old.

"You gotta have the passion for it," he said.

While John noted "there's not enough years left" to teach a successor everything he can do, if a buyer needs help, "we're willing to talk to people and give them advice and help and coach them along in the job," Sheri said.

There will be limited office hours while John works part-time on a few projects as the Wikans transition into retirement.

But in the coming months, if no interested party is found, the Wikans will start to sell off their equipment inventory — 32 years worth of parts.

That inventory is valued at over $300 thousand — a large part of the advertised price of $899,999.

"You got to have the parts so you can fix the boat, so the fisherman can get out and fish," explained Sheri.

The business itself, without the full inventory, was initially priced around $450 thousand. But when the Wikans bought the land their shop sits upon from the Petersburg Borough last fall, that price increased by over $100 thousand.

John and Sheri moved to Petersburg in the 90s, first operating out of a walled-off space in a yellow warehouse owned by John Winther, before building their headquarters from scratch on leased tidelands at 103 Dock Street.

Last winter, the Wikans bought the property —a landmark sale of borough-owned tidelands— in order for the prospective buyer of their business to secure a loan.

However, a final agreement was ultimately not worked out with the intended buyers, who decided to pivot their plans in February 2024.

"There was a local interested party, but we were not able to come to terms with them," Sheri summarized of the impasse.

The Wikans have been actively seeking out buyers to take over for the business, but are yet to find someone to carry the torch.

"I just hope there's somebody that has the ambition and drive to take that on, because otherwise, it's gonna be not good for the fishermen," said John. "There's gotta be somebody out there..."

"If anybody knows anybody, please let us know," said Sheri. "We want to continue this business here in Petersburg with a owner that will wanna do it — we want to see it continue. That's always been our intent, the best interest of the community, you know?"