MarineMax ‘preparing for sale’ as Donerail reportedly raises bid
US-based recreational yacht retailer MarineMax is reportedly preparing to sell itself, according to reports in Reuters.
According to the news agency, two sources with knowledge of the private discussions have confirmed that MarineMax’s board of directors “agreed last month [April 2026] to proceed with a sale”, with the process moving into the next round.
The board, including CEO Brett McGill, made the decision some six months after investor Donerail
Two of Reuters’ three sources report that Donerail, an activist investor that owns a 5 per cent stake in MarineMax and has previously proposed buying the company itself, has increased its initial offer.
The sources also told the outlet that Blackstone Group is still interested in a potential acquisition and is “reviewing documents”.
MarineMax has so far not issued a comment on the story.
Sources familiar with the process have cautioned that a deal is not guaranteed.
MarineMax is one of the world’s largest recreational boat, yacht and superyacht services companies.
The firm has had a tumultuous few months. In February 2026, Donerail Group published a scathing letter calling out a ‘corrosive culture of nepotism’ at MarineMax, after its offer to acquire MarineMax in all-cash deal worth $1bn was rejected.
This prompted Levin Capital Strategies – a fellow top 10 shareholder of MarineMax – to issue a statement calling on the company’s board of directors to initiate ‘an immediate review of strategic alternatives’, following ‘prior failures to capitalise on credible acquisition offers’.
MarineMax responded, saying it had been engaging with Donerail throughout, and that it remains committed to ‘carefully evaluating any credible proposal that has the potential to enhance shareholder value’. The firm has not publicly addressed the specific claims of nepotism.
The news has generated further buyout interest from major private equity firms, including Centerbridge Partners and Blackstone, as well as wealthy individuals, according to Reuters.
In the end, MarineMax shareholders voted to support McGill, re-electing him in early March to serve another three-year term. However, a swing in voting proportions shows that opposition to his tenure has swollen significantly.
The firm’s stock price has soared 30 per cent this year after investors began pushing for a sale. However, over the past five years, the firm’s stock has fallen by more than 50 per cent.
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