Dart Boats, Inc. began as a popular line of 26-ft Dart and 22.5-ft Dart Junior mahogany, triple-cockpit runabouts built by the Indian Lake Boat Company in Lima, Ohio beginning in about 1925. The boats became extraordinarily popular in Toledo area, gaining the attention of a group of investors headed by Lieut. Com. Webb C. Hayes III (grandson of President Rutherford B. Hayes). In 1928, the Dart models were purchased, brought to a state-of-the-art factory on Summit Street in Toledo, and incorporated as Dart Boats, Inc.
The new Dart Boats, Inc. refined the styling and hardware of the Dart models and expanded their stock runabout offerings to include a 30-ft and, eventually, an 18.5′ double cockpit runabout. They launched an aggressive, international marketing campaign which saw dealerships set up in New York, London and Vienna, selling boats as far away as Israel. In Canada, Greavette Boats leased the plans and hardware to sell Dart runabouts made with Muskoka craftsmanship. These well-built craft were renowned for their speed, stability, and striking style.
In 1931, after just two years of business in Toledo, the company succumbed to the effects of October 1929 and ceased production of fine mahogany speedboats, another casualty of the Great Depression. The company assets were sold in 1932. Today, less than fifty of the original Dart runabouts still exist.