PHOTO COURTESY HARBOR POINTEOneWater Marine announced that it acquired Harbor Pointe Marina in Dadeville, Ala., expanding the company’s presence on Lake Martin.
“Harbor Pointe Marina presents an exciting, low-risk opportunity to assume a dealership operation at virtually no cost,” OneWater CEO Austin Singleton said in a statement. “The M&A environment continues to pick up steam, and we are in a position of strength as we opportunistically build on our strong track record of successful acquisitions.”
Under terms of the agreement, OneWater acquired the net assets of the dealership, excluding the real estate and the boat inventory, which will be taken on a consignment basis. Harbor Pointe Marina generated approximately $5.8 million in sales last year.
OneWater said it plans to carry the Bennington and Regal brands at Harbor Pointe, which offers full service, parts, boat rentals and boat storage.
