MarineMax Enters into Definitive Agreement to be Acquired by Blackstone Infrastructure Portfolio Company, Safe Harbor, in a $1.5 Billion All-Cash Transaction
MarineMax Shareholders to Receive $53.00 Per Share in Cash
Sale is Direct Outcome of Strategic Review Process Led by the MarineMax Board of Directors
MarineMax, Inc. (NYSE: HZO) ("MarineMax" or the "Company"), a marina operator, superyacht services company and boat and yacht retailer, and Safe Harbor Marinas ("Safe Harbor"), a marina and superyacht service business, today announced that they have entered into a definitive agreement, under which Safe Harbor will acquire all issued and outstanding shares of common stock of MarineMax for $53.00 per share in cash. The all-cash transaction represents an enterprise value of approximately $1.5 billion.
The purchase price represents a premium of 96% to MarineMax's closing share price of $27.03 on January 30, 2026, the last trading day prior to public disclosure of an unsolicited non-binding proposal to acquire 100% of the Company, as well as a premium of 110% to the Company's 90-day volume weighted average price for the period ended January 30, 2026.
The transaction is the culmination of a competitive strategic review process led by the Company's Board of Directors (the "Board") and management, with the assistance of the Company's independent financial and legal advisors.
"We are pleased to have reached this agreement with Safe Harbor," said Brett McGill, Chief Executive Officer and President of MarineMax. "Throughout this process, we have remained focused on maximizing value for our shareholders and positioning MarineMax for continued growth and success. I am proud of the strength of our differentiated, resilient and integrated model, loyal customer base, talented team and premium product portfolio. 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."
Baxter Underwood, Chief Executive Officer of Safe Harbor, said, "MarineMax has a talented team and deep relationships across the 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. We look forward to partnering with the MarineMax team to support their next chapter of growth."
Rebecca White, Chairperson of the Board, added, "The transaction announced today is the result of careful consideration and negotiation by the Board and management. Following a thoughtful and comprehensive process, the Board unanimously concluded that this transaction is in the best interests of MarineMax and its shareholders, and that the transaction price represents compelling and certain value for MarineMax's shares."
Transaction Details
The transaction, which was unanimously approved by the Board, is expected to close by the end of the calendar year 2026, subject to customary closing conditions, including certain regulatory approvals and the approval of MarineMax's shareholders. The Board recommends that MarineMax shareholders vote their shares in favor of the transaction at a special meeting of shareholders that will be held to vote on the transaction. The closing of the transaction is not subject to a financing condition.
If the transaction is completed, MarineMax would become a privately held company, and MarineMax's common stock would no longer be listed on the New York Stock Exchange.
Additional information regarding the transaction will be filed by MarineMax with the U.S. Securities and Exchange Commission ("SEC") in a Current Report on Form 8-K.
Advisors
Wells Fargo is serving as exclusive financial advisor and Sidley Austin LLP is serving as legal counsel to MarineMax.
Evercore is serving as exclusive financial advisor and Simpson Thacher & Bartlett LLP is serving as legal counsel to Safe Harbor.
About MarineMax
As a recreational boat and yacht retailer, marina operator and superyacht services company, 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%.
About Safe Harbor Marinas
Safe Harbor is a marina and superyacht service business. The company provides exceptional service and memorable experiences for the global boating community.