MarineMax shareholders are set to receive $53 per share in cash, with the transaction expected to close by the end of 2026.
MarineMax has entered into a definitive agreement to be acquired by Safe Harbor Marinas, a Blackstone Infrastructure portfolio company, in an all-cash transaction valued at approximately $1.5 billion.
Under the terms of the agreement announced August 10, MarineMax shareholders will receive $53 per share in cash for each share of common stock they own. The transaction was unanimously approved by MarineMax’s Board of Directors following a strategic review process led by the board and company management.
The purchase price represents a 96 percent premium over MarineMax’s closing share price of $27.03 on January 30, 2026—the last trading day before the public disclosure of an unsolicited, non-binding proposal to acquire the company. The $53-per-share offer also represents a 110 percent premium to MarineMax’s 90-day volume-weighted average price through January 30.
Also Read
Jeanneau TH38 Review: An Outboard Power Cat for the Weekend
Jeanneau TH38: What a Difference a Dayboat Makes Jeanneau's latest twin-hull series opens the door for extended fun. By Steve...
A New Chapter for MarineMax
If completed, the acquisition will take MarineMax private, and its common stock will no longer trade on the New York Stock Exchange.
MarineMax President and CEO Brett McGill said the agreement reflects the company’s focus on maximizing shareholder value while positioning the business for continued growth.
“The scale of our combined platforms will help us enhance and expand our offerings, deepen our partner and customer relationships, and provide greater opportunities for our team,” McGill said in a statement.
Safe Harbor CEO Baxter Underwood said the two companies have complementary businesses and relationships throughout the marine industry.
“By bringing together these two complementary businesses, we believe we can create greater value for boaters and an expanded service offering for the industry,” Underwood said.
Subscribe Here For More Boating Content
What the Deal Brings Together
MarineMax operates more than 120 locations worldwide, including more than 70 dealerships and 65 marina and storage facilities. Its portfolio extends well beyond boat sales, encompassing marina operations, superyacht brokerage and services, boatbuilding, charter vacations, financing, insurance and marine technology.
Among its businesses are IGY Marinas, which operates luxury marinas in destinations around the world; Fraser Yachts Group and Northrop & Johnson, which provide superyacht brokerage and luxury yacht services; and boatbuilders Cruisers Yachts and Intrepid Powerboats.
MarineMax also operates MarineMax Vacations in Tortola, British Virgin Islands, and its Boatyard and Boatzon businesses, which provide digital technology and services for boaters.
The combination with Safe Harbor would unite two major players in marina and marine services. Safe Harbor operates marinas and superyacht service facilities and is backed by Blackstone Infrastructure.
Also Read:
Jeanneau TH38 Review: An Outboard Power Cat for the Weekend
Jeanneau TH38: What a Difference a Dayboat Makes Jeanneau's latest twin-hull series opens the door for extended fun....
Deal Expected to Close by End of 2026
The transaction remains subject to customary closing conditions, including regulatory approvals and approval by MarineMax shareholders. A special shareholder meeting will be held to vote on the proposed acquisition, and MarineMax’s board has recommended that shareholders vote in favor of the deal.
The transaction is not subject to a financing condition and is currently expected to close by the end of calendar year 2026.
MarineMax said additional information about the transaction will be included in filings with the U.S. Securities and Exchange Commission.
The companies have retained separate financial and legal advisors for the transaction. Wells Fargo is serving as MarineMax’s exclusive financial advisor, with Sidley Austin LLP as legal counsel. Evercore is advising Safe Harbor, with Simpson Thacher & Bartlett LLP serving as legal counsel.
For MarineMax, the proposed acquisition marks a significant change for a company whose operations span much of the recreational boating industry. For Safe Harbor, the deal would add MarineMax’s extensive retail, marina, superyacht and manufacturing operations to its existing marine-services platform.
Related Posts
