OneWater Marine is in talks to acquire rival MarineMax, according to a report by Bloomberg.
The report, which cites information from people with knowledge of the matter, says that OneWater has “made an all-cash, $40-a-share offer for MarineMax following months of private discussions, the people said, asking not to be identified discussing private information. The combined company would be valued at about $2.5 billion, including debt, they said.”
OneWater this morning responded to the report in a statement:
“As a matter of policy, we do not comment on market rumors or speculation. OneWater is a highly disciplined and seasoned acquiror within the fragmented boating industry. Since 2014, we have successfully executed more than 30 acquisitions that have contributed to increased shareholder value. This strong track record is anchored by our ability to meaningfully expand EBITDA of acquired companies through expeditious synergy realization.
OneWater has a strong balance sheet and will continue to prioritize judicious capital allocation and maintain appropriate levels of leverage while evaluating strategic opportunities, enabling us to ensure the short-term, medium-term, and long-term viability of our business. Management and the Board of Directors are extremely focused on preserving and enhancing shareholder value. They are squarely aligned with shareholders given that insiders collectively hold a 17% interest in the Company.”
This is a developing story.
