OneWater Marine Inc. Signs Definitive Agreement to Acquire Harbor View Marine
Acquisition strengthens presence in the Florida Gulf Coast Market
BUFORD, Ga., Oct. 11, 2022 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”) announced today that it has signed a definitive agreement to acquire Harbor View Marine, one of the Gulf Coast’s largest locally owned dealerships. The acquisition will further expand the Company’s footprint on the Gulf Coast and is expected to enhance new and pre-owned boat sales, finance, and parts and services offerings. The transaction is expected to close in the first quarter of fiscal 2023.
“Harbor View Marine brings aboard a suite of iconic brands and a loyal, local following. These characteristics are quintessential for portfolio expansion at OneWater,” said Austin Singleton, Chief Executive Officer for OneWater. “OneWater’s focus on strategic growth remains steadfast and parallels our customers’ desire to explore new products and brands. With a well-respected name in the region and a one-stop-shop suite of offerings, Harbor View will be a natural fit with the OneWater family.”
Harbor View Marine is a family-owned and operated business with an on-water marina in Pensacola, FL and roadside location in Orange Beach, AL, offering leading brands such as NauticStar, Jeanneau, G3, and Bayliner. In addition to new and used boat sales, Harbor View Marine offers service and repair from certified technicians, parts and accessories, hi/dry boat storage, and a boat club to Gulf Coast boaters. Harbor View Marine generated approximately $21 million in sales over the past twelve months.
Darrell Robinson, co-owner of Harbor View Marine, said, “We pride ourselves on our rock-solid reputation and providing excellent service, support and satisfaction with a staff that understands all aspects of the business. We look forward to working with OneWater and continuing that legacy.”
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates a total of 98 retail locations, 12 distribution centers / warehouses and multiple online marketplaces in 20 different states, several of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, finance and insurance products, parts and accessories, maintenance, repair and other services.
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