Edgartown Marine will shortly have new owners.

George and Sheryl Roth Rogers of Lexington and Vineyard Haven will take over the town-owned boat yard in the next few days, pending bank approval from the Martha’s Vineyard Savings Bank. The boat yard is at the end of Morse street on the Edgartown harbor.

Maurice Dore and Anthony (Tony) Chianase are selling the business, the price of which has not been disclosed. The Edgartown selectmen approved a long-term lease transfer for the new owners at a special selectmen’s meeting Friday afternoon.

“We look at this as a landmark business with real tradition and our goal to take this to the next level,” Mr. Rogers said after the transfer was announced. “We’re just ecstatic about the opportunity and excited to move forward with it.”

Mr. Dore and Mr. Chianese bought the company from Leonard Green in 1994. In 1997 Mr. Greene sold the property and docks to the town for $1.4 million in an effort to keep a boat yard in town. At the time the town signed an 89-year lease with Edgartown Marine. The lease will now be transferred to the new owners of the business.

Mr. Rogers is a former financial executive for several venture capital firms and a Vineyard native, and Mrs. Rogers is a senior marketing executive.