In 1975 Paceship Yachts and its tooling were sold to American Machine and Foundry (AMF Corp), a large American conglomerate. They relocated Paceship production to Connecticut in the United States, including the Paceship PY23 and PY26 sailboats. Paceship Yachts operated as a division of AMF from 1975 until 1981. The early 1980s recession impacted sailboat sales and, as a result, AMF sold the PY26 design and tooling to Tanzer Industries in 1981. Tanzer changed the design to a deck-stepped mast and sold it as the Tanzer 27. Tanzer Industries itself went out of business in May 1986.
