Southern Marinas yesterday announced a successful recapitalization, effected as a sale by affiliates of KSL Capital Partners to Stonepeak, an investment firm specializing in infrastructure and real assets. Southern Marinas also announced the most recent addition to its portfolio, the acquisition of F3 Marina, a 59,000-square-foot facility in Fort Lauderdale, Fla.
“We are entering into an exciting new chapter as we look to further strengthen the business and propel our growth,” Southern Marinas co-founder and chairman Mitchell Jones said in a statement. “Stonepeak brings deep infrastructure expertise, experience building scaled businesses and a clear strategic perspective, and we are confident they will make an excellent partner as we continue to deliver for our customers.”
The transaction has closed, and additional terms were not disclosed.
Founded in 2018, Southern Marinas owns and operates a portfolio of 16 marinas in Florida, Idaho, Missouri, New Jersey, New York, North Carolina, Tennessee and Washington. Its core storage business comprises more than 6,700 slips and is complemented by a range of ancillary operations, including fuel, boat rentals and service.
