OneWater releases statement regarding rumoured MarineMax deal
OneWater Marine has released a statement following a rumoured deal with MarineMax.
On Sunday (2 June), Bloomberg reported OneWater Marine has been in talks to acquire its larger rival MarineMax. The news outlet says OneWater has made ‘an all-cash, $40-a-share offer for MarineMax‘.
OneWater Marine made the following statement ‘in response to inquiries regarding recent news’:
‘As a matter of policy, we do not comment on market rumors or speculation.
‘OneWater is a highly disciplined and seasoned acquirer 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 prioritise 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 per cent interest in the company.’
In May 2024, US boat retailer OneWater Marine announced results for its fiscal second quarter ended March 31, 2024.
OneWater Marine is one of the largest and fastest-growing premium marine retailers in the United States. OneWater operates 96 retail locations, ten distribution centres/warehouses and multiple online marketplaces in 18 different states.
