OneWater Marine to acquire majority interest in Quality Boats

OneWater Marine boat on the water at sunset

OneWater Marine has entered into a definitive agreement to acquire a majority interest in Quality Boats, a move that cements the company’s presence on Florida’s west coast.

The transaction is expected to close in the next 90 days, and is subject to usual and customary closing conditions. OneWater is anticipated to acquire an 80 per cent interest in Quality Boats, while the sellers, David and Dan Bair, will retain the remaining interest. OneWater has obtained an option to acquire the remaining 20 per cent interest at a stated price, and at its sole discretion, for a period of five years.

For the full calendar year 2021, Quality Boats is expected to generate approximately $140 million in sales and $20 million in EBITDA. The transaction is expected to be immediately accretive to OneWater.

Quality Boats is already an exclusive authorised dealer for boating brands including Grady-White, Pursuit, Regal, Tiara, Crevalle and Sea Pro.

“We could not be more excited to welcome the Quality Boats team into the OneWater family. Their significant presence in one of the hottest boating markets in the US and commitment to quality are just a few of the reasons why Quality Boats is an award-winning dealership group and a fantastic fit for the OneWater family,” says Austin Singleton, chief executive officer at OneWater. “I am personally thrilled to welcome my long-time friends, Dave and Dan Bair, to the OneWater team, and look forward to the exciting future of our company.”

“Growing up in Clearwater, FL, I have always seen Quality Boats as a well respected and fierce competitor in the marketplace,” says Anthony Aisquith, chief operating officer of OneWater. “Their reputation for taking care of customers by their well trained sales and service teams is second to none. Dave and Dan Bair are fantastic operators, and are very highly regarded as leaders within the marine industry. I am excited to be working with long-time friends and eager to see the possibilities that our combined operations will generate in the future.”

Dave Bair, co-owner of Quality Boats, says: “We are equally as thrilled to be joining the OneWater family, a dealership group we have admired for many years. This is an exciting time in the marine industry, and we are proud to combine forces with OneWater to further expand on the goals and vision our father established nearly 50 years ago.”

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This article was written and/or edited by the UK-based MIN team.

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