MarineMax said today that it acquired the Hall Marine Group and its six locations in the Carolinas and Georgia, expanding its presence in the Southeast.
With fiscal 2016 revenue exceeding $50 million, Hall Marine is one of the largest privately owned boat dealers in the Southeast, MarineMax said.
MarineMax acquired substantially all of the assets of Hall Marine. Hall’s shareholders, who will remain as its operators, received an initial cash payment at closing and have the ability to earn additional payments, subject to achieving performance metrics.
Hall Marine, founded in the mid-1970s by Rod and Fran Hall, operates through six locations covering the markets of Charlotte, N.C.; Lake Wylie, Greenville, Columbia and Charleston, S.C.; and Savannah, Ga.
The locations include two large marinas and four highway locations. MarineMax said the brands Hall represents are largely consistent with the ones it offers.
"We are excited to strengthen and enhance our significant presence by adding these important Carolina and Georgia markets,” MarineMax CEO William McGill said in a statement.
“Combining with Hall Marine Group, we are better able to serve the many boaters that migrate along the Atlantic seaboard and within the Southeast market. Jeff and Rick Hall are well respected in our industry, and we are very proud to welcome them and the Hall Marine Group team into MarineMax. We operate with similar strategies, and we firmly believe that together we will be even stronger serving boating enthusiasts in the Southeast, one of the most significant marine markets in the country."
“We have watched MarineMax’s accomplishments over the years and have admired the business they have built,” Hall Marine Group co-principal Jeff Hall said. “We are excited about joining the MarineMax team. This strategic combination better enables the Hall operations to grow and to take advantage of new opportunities for the future. This is an exceptional opportunity for us to take the marine business to the next level with MarineMax.”
“This transaction is very exciting for all the right reasons,” Hall Marine Group co-principal Rick Hall said. “Combining with MarineMax will have a very positive impact in the boating industry for the Southeast and Mid-Atlantic regions, especially for those who migrate as they enjoy the boating lifestyle. Along with our founders, the entire Hall Marine team is very happy about this merger and are all looking forward to joining MarineMax.”