MarineMax Expands in Texas
01 Novembro 2021 - 10:00AM
Business Wire
~Acquires Texas MasterCraft~
~Enters Largest Towboat Market in the United
States~
~Acquisition Expected to be Accretive in
First Full Year~
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational
boat and yacht retailer, today announced it has acquired the assets
of Texas MasterCraft. Texas MasterCraft is a full-service Dallas,
Texas area towboat dealer that operates primarily from two
locations. The Dallas-area market is the largest towboat market in
the United States. Texas MasterCraft generated revenue of over $45
million in 2020. The acquisition is expected to be accretive in its
first full twelve months after the closing.
Texas MasterCraft is recognized annually as the largest
MasterCraft dealer in the world. Jimmy Harvell launched Texas
MasterCraft in 2001, after several years teaching as a waterski pro
and working with various other Dallas area dealerships. The
dealership benefits from a private lake it owns, which is used for
various promotional events and customer demonstration purposes. Mr.
Harvell and his team will continue to operate both locations with
additional support and resources provided by MarineMax.
W. Brett McGill, Chief Executive Officer and President of
MarineMax stated, "We have great appreciation and respect for Jimmy
Harvell and his team and admire how effectively they operate their
business. Our cultures and passion for customer service, as well as
the boating lifestyle, are perfectly aligned. This strategic
acquisition allows our existing Dallas area operation to join
forces with those of the Texas MasterCraft team, creating the most
powerful customer servicing dealership organization in the
important north Texas towboat market. We welcome the Texas
MasterCraft Team into the MarineMax family and are excited about
our future growth.”
Jimmy Harvell, President of Texas MasterCraft stated, “Our Team
has always strived to provide the best service and the best
experiences for our customers. Joining forces with MarineMax, whom
we have known for many years, provides us with extensive resources
to better serve our customers and this important market. We are
excited about this partnership and the growth opportunities that it
creates.”
About MarineMax
MarineMax is the world’s largest recreational boat and yacht
retailer, selling new and used recreational boats, yachts and
related marine products and services, as well as providing yacht
brokerage and charter services. MarineMax has over 100 locations
worldwide, including 77 retail dealership locations, which includes
31 marinas or storage operations. Through Fraser Yachts and
Northrop and Johnson, the Company also is the largest super-yacht
services provider, operating locations across the globe. Cruisers
Yachts, a MarineMax company, manufactures boats and yachts with
sales through our select retail dealership locations and through
independent dealers. MarineMax provides finance and insurance
services through wholly owned subsidiaries and operates MarineMax
Vacations in Tortola, British Virgin Islands. The Company also
operates Boatyard, a pioneering digital platform that enhances the
boating experience. MarineMax is a New York Stock Exchange-listed
company (NYSE: HZO). For more information, please visit
www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include this acquisition being
accretive; the operation of the Texas MasterCraft dealership and
private lake; the combination of the Company's existing Dallas area
operations and those of the Texas MasterCraft team; the future
growth of Texas MasterCraft; and the benefits of this transaction
to customers. These statements are based on current expectations,
forecasts, risks, uncertainties and assumptions that may cause
actual results to differ materially from expectations as of the
date of this release. These risks, assumptions and uncertainties
include the Company’s abilities to reduce inventory, manage
expenses and accomplish its goals and strategies, the quality of
the new product offerings from the Company’s manufacturing
partners, the impacts (direct and indirect) of COVID-19 on the
Company’s business, the Company’s employees, the Company’s
manufacturing partners, and the overall economy, general economic
conditions, as well as those within our industry, the level of
consumer spending, the Company’s ability to integrate acquisitions
into existing operations, and numerous other factors identified in
the Company’s Form 10-K for the fiscal year ended September 30,
2020 and other filings with the Securities and Exchange Commission.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211101005345/en/
Michael H. McLamb Chief Financial Officer 727-531-1700
Media: Abbey Heimensen MarineMax, Inc. Investors:
Brad Cohen or Dawn Francfort ICR, LLC
investorrelations@marinemax.com
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