MarineMax Further Expands Worldwide Yacht Services
05 Abril 2022 - 9:00AM
Business Wire
~Acquires Superyacht Management Company Based
in the South of France~
~Strengthens Position as World’s Largest
Superyacht Services Provider~
~Committed to Growing Higher Margin
Businesses~
~Acquisition Expected to be Accretive in First
Full Year~
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational
boat and yacht retailer, today announced that it has acquired
Superyacht Management, S.A.R.L., better known as SYM. SYM is a
superyacht management company based in Golfe Juan, France. The
acquisition is expected to be accretive in its first full year.
SYM is being acquired by Northrop & Johnson, a superyacht
brokerage and charter services business, which MarineMax acquired
in 2020. SYM expands Northrop & Johnson’s service offerings by
enabling it to enter the important yacht management business and
more effectively serve its expanding base of superyacht clients,
while also strengthening its new build construction
capabilities.
W. Brett McGill, Chief Executive Officer and President of
MarineMax, stated, "The addition of SYM complements MarineMax’s
ongoing diversification into a higher margin and global business.
By adding SYM, the Company strengthens its commitment to providing
exceptional customer service experiences across all superyacht
service offerings, including buying, selling, insuring, building,
crewing, and chartering. We are very excited that Ben Young MBE,
founder of SYM, and his team with their many years of invaluable
yacht management experience will join forces with Northrop &
Johnson.”
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 79
retail dealership locations, which includes 31 marinas or storage
operations. Through Fraser Yachts and Northrop and Johnson, the
Company also is the largest superyacht 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. Intrepid
Powerboats, a MarineMax company, manufactures powerboats and sells
through a direct-to-consumer model. 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 the acquisition being
accretive and the related timing, and the post-closing management
of SYM. 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,
2021 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20220405005264/en/
Investors: Michael H. McLamb Chief Financial Officer
727-531-1700 Brad Cohen or Dawn Francfort ICR, LLC
investorrelations@marinemax.com Media: Abbey Heimensen
MarineMax, Inc.
MarineMax (NYSE:HZO)
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