MarineMax today issued a statement in response to the recent public letter to shareholders from The Donerail Group expressing interest to buy MarineMax. The statement reads in part:
Following Donerail’s recently announced unsolicited indication of interest to acquire the Company (the “Indication of Interest”), the Company promptly responded to Donerail with customary questions aimed at facilitating the Board’s evaluation of Donerail’s interest, funding sources and execution certainty. The Board is committed to evaluating any credible proposal that has the potential to enhance value and, with the assistance of independent financial and legal advisors, will continue to carefully review Donerail’s Indication of Interest in good faith, consistent with its fiduciary duties.
Donerail’s claim that MarineMax has “not offered any productive engagement” is patently false, and we are disappointed that Donerail would ignore the Board and management team’s track record of collaborative dialogue, which Donerail itself has privately acknowledged and commended.
The letter also stated that the board is “unanimous in its support” for CEO Brett McGill:
Since he was appointed CEO in 2018, Mr. McGill has successfully transformed MarineMax into the world’s largest recreational boat and yacht retailer, marina operator and superyacht services company. Under Mr. McGill’s leadership, MarineMax has more than doubled revenue and Adjusted EBITDA, maintained resilient gross margins above 30% for 21 consecutive quarters and expanded strategically into new markets and higher-margin services, marinas and superyachts. These efforts have resulted in a more diversified, resilient and growth-oriented business. …
The Board is confident that the reelection of Mr. McGill, and each of the Board’s nominees, at MarineMax’s 2026 Annual Meeting will support the successful execution of these initiatives and advance the best interests of all shareholders.
Read the entire MarineMax statement.
Read the Feb. 3 Trade Only Today story about the proposed buyout.
