MarineMax completes acquisition of Williams Tenders USA
MarineMax has completed the acquisition of Williams Tenders USA, Inc.
Headquartered in Pompano Beach, Florida, Williams is a distributor and retailer for UK-based Williams Jet Tenders, a manufacturer of rigid inflatable jet tenders for the luxury yacht market. The acquisition, which was first announced in January, is expected to be accretive in its first full year of operations.
“The addition of Williams illustrates our strategic approach to growth, focused on the acquisition of high-quality businesses that enhance our margin profile and strengthen customer relationships,” says W. Brett McGill, chief executive of MarineMax, which is the world’s largest recreational boat, yacht and superyacht services company. “Today, Williams’ luxury jet tenders are marketed in 20 locations across the United States and the Caribbean.
“Fuelled by growth in the yacht and luxury yacht markets, we see significant potential for growth of Williams, while maintaining the exceptional level of service and experiences their customer base expects.
“We believe Williams is well-positioned to capitalise on this growth opportunity and are thrilled to welcome the entire Williams USA team to the MarineMax family.”
In January, McGill confirmed a challenging retail environment required the firm “to take more aggressive pricing actions.” His statement came as the company saw a record December quarter revenue of $527.3m, with a gross profit margin of 33.3 per cent.
