MarineMax acquires Texas dealership

Author:
Publish date:
Updated on
Sail&Ski

MarineMax Inc., has acquired Sail & Ski Center, a boat dealership in Austin and San Antonio, Texas. Founded in 1969 by the late Rod Malone, Sail & Ski Center was recognized as the best dealer in North America in 2018 after earning the same honor in 2010. Sail & Ski has three locations with combined 2018 revenue of $40 million. In addition to selling boats and water sports gear, the company has a strong snow-sports accessory business.

In a statement, MarineMax said it “acquired substantially all of Sail & Ski’s assets.” Shareholders of Sail & Ski will remain as its operators and they received an initial cash payment at the closing of the deal and can earn additional payments subject to achieving future performance metrics.

“We are excited to strengthen and enhance our presence in the large and important Texas market by adding the Sail & Ski operations to our existing Texas business in the Dallas and Houston markets,” W. Brett McGill, CEO and president of MarineMax, said in the statement.

Added Buzz Watkins, president of Sail & Ski, “We have been long-time industry partners of MarineMax and have watched and admired their accomplishments over the years. We are excited about joining the MarineMax team. We believe access to their exclusive brands will further drive our growth. This strategic combination better enables Sail & Ski to grow and take advantage of new opportunities in the future.”

Related

ICOMIA milestones

An anniversary for its refit group and the entry of an Israeli marine association are landmarks for the International Council of Marine Industry Associations.

Distracted Boating

USCG: Operator inattention caused the most accidents in 2017, but alcohol still played a part in the most fatal accidents on the water.