OneWater Marine (NASDAQ: ONEW) is talking about buying its bigger competitor, MarineMax (NYSE: HZO), using only cash. Here’s a detailed breakdown:
- Offer Details: OneWater Marine has offered $40 per share to buy MarineMax. This offer makes the total value of the combined companies $2.5 billion, including any debts.
- Premium Offer: The $40 per share offer is 40% more than MarineMax’s closing price last Friday. This means OneWater is willing to pay significantly more than MarineMax’s current stock price to acquire it.
- Potential Outcome: The discussions might not lead to a final deal. There’s a chance that the negotiations could end without any agreement.
- Announcement Timeline: If the deal goes through, it could be announced this month. The two companies have been in private talks for several months already.
- Company Values: OneWater Marine is currently valued at $415 million, while MarineMax is valued at $635 million.
In summary, OneWater Marine is proposing to buy MarineMax for $40 per share in an all-cash deal. This would create a combined company worth $2.5 billion, including debt. The offer is significantly higher than MarineMax’s recent stock price, reflecting a 40% premium. However, there’s no guarantee the deal will happen, though an announcement could come as soon as this month.
About OneWater Marine
OneWater Marine has established itself as a prominent name in the marine retail industry. Recognized for their exceptional performance, they were honored as the Dealer of the Year by Boating Industry Magazine consecutively in 2016 and 2017. Their commitment to excellence led to their induction into the Boating Industry Top 100 Dealer Hall of Fame in 2018.
The company is committed to acquiring and managing leading marine retail dealerships throughout North America. With a bold strategy for growth, OneWater Marine offers a range of acquisition models tailored to meet the needs of dealership owners, operators, and principals.
For those interested in exploring potential partnerships or considering an exit strategy, OneWater Marine extends an invitation to get in touch. They can be reached at the provided contact number for a discussion on how their acquisition models might align with your business plans.
About MarineMax
MarineMax (NYSE: HZO), recognized as the world’s largest lifestyle retailer of recreational boats and yachts, as well as a provider of yacht concierge and superyacht services, operates under the motto “United by Water.” The company boasts over 125 locations globally, including 78 dealerships and 57 marinas. Their integrated business model encompasses IGY Marinas, managing luxury marinas at yachting and sport fishing hotspots worldwide; Fraser Yachts Group and Northrop & Johnson, top-tier superyacht brokerage and luxury yacht service firms; Cruisers Yachts, a leading manufacturer of premium sport yachts and motor yachts; and Intrepid Powerboats, a prominent powerboat manufacturer.
To enhance the customer experience, MarineMax offers financing and insurance services and cutting-edge digital technology products that link boaters to a network of preferred marinas, dealers, and marine professionals via Boatyard and Boatzon. Additionally, MarineMax Vacations in Tortola, British Virgin Islands, provides charter vacation guests with luxurious boating adventures. While land covers 29% of the earth’s surface, MarineMax is dedicated to the other 71%.
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