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MarineMax to Expand Marina Portfolio with the Acquisition of Shelter Bay Marine, in the Heart of the Florida Keys

1. MarineMax acquires Shelter Bay Marine to enhance service offerings. 2. Acquisition expected to close by June 2025, boosting revenue. 3. Shelter Bay provides direct ocean access, enhancing operational capabilities. 4. This move strengthens MarineMax's presence in the Florida Keys. 5. The acquisition aligns with MarineMax's strategy for higher-margin businesses.

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FAQ

Why Bullish?

The acquisition suggests growth potential, similar to previous strategic purchases boosting revenue.

How important is it?

The acquisition is significant; it solidifies market position and revenue potential for MarineMax.

Why Long Term?

Positive effects will emerge gradually, as operational integration takes time for full realization.

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HZO
OLDSMAR, Fla.--(BUSINESS WIRE)--MarineMax, Inc. (NYSE: HZO) (“MarineMax” or the “Company”), the world’s largest recreational boat, yacht and superyacht services company, today announced that it has signed a definitive agreement to acquire Shelter Bay Marine (”Shelter Bay”), a full-service marina and storage facility in the heart of the Florida Keys. The acquisition is expected to close by the end of June 2025 and be accretive in the first full year of operations. The marina, located in Marathon, Florida, provides unrestricted, direct ocean access with no bridge height limitations. It is capable of storing more than 175 boats, while offering comprehensive service and retail facilities. “The acquisition of Shelter Bay aligns seamlessly with our strategy of acquiring higher-margin businesses that complement other parts of our business and create valuable synergies,” said Brett McGill, Chief Executive Officer and President of MarineMax. “Geographically, Shelter Bay strengthens our presence in the Middle Keys, building on our growing Ocean Reef and Islamorada locations. The Shelter Bay team has a strong reputation for service excellence that blends well with our culture. In addition, the marina provides another outlet for our premium brands, enhancing the customer experience through greater convenience and expanded access to our offerings.” About MarineMax As the world’s largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax (NYSE: HZO) is United by Water. We have over 120 locations worldwide, including over 70 dealerships and 65 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts, motor yachts, and Aviara luxury dayboats; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more at 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 expectations that the acquisition of Shelter Bay Marine will close by the end of June 2025 and be accretive in the first full year of operations, as well as the financial and operational benefits of the acquisition. 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 return to normal operations of the Company’s locations, the timing of and potential outcome of the Company’s long-term improvement plan, the estimated impact resulting from the Company’s cost-reduction initiatives, 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 performance and integration of the recently acquired businesses, general economic conditions, as well as those within the Company's industry, the liquidity and strength of our bank group partners, the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2024 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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