MarineMax agrees to $1.5B all-cash sale
MarineMax has entered a deal to be acquired by Blackstone’s Safe Harbor Marinas in an all-cash transaction worth approximately $1.5 billion, as reported by Boating Industry.
MarineMax and Safe Harbor Marinas announced that they have entered into a definitive agreement, under which Safe Harbor will acquire all issued and outstanding shares of common stock of MarineMax for $53 per share in cash.
The transaction is the culmination of a competitive strategic review process led by the company’s board of directors and management, with the assistance of the company’s independent financial and legal advisers.
“We are pleased to have reached this agreement with Safe Harbor,” says Brett McGill, CEO and president of MarineMax.
If the transaction is completed, MarineMax would become a privately held company, and MarineMax’s common stock would no longer be listed on the New York Stock Exchange.
MarineMax is the world’s largest recreational boat and yacht retailer, marina operator, and superyacht services company, with over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities.
