OneWater Marine announced this morning that it agreed to acquire Ocean Bio-Chem for approximately $125 million in cash.
OneWater will pay $13.08 per Ocean Bio-Chem share, the companies said in a statement. The transaction includes Ocean Bio-Chem affiliate Star brite Europe.
Ocean Bio-Chem is a supplier of cleaning and maintenance products for marine, RV and other end-use markets. The statement said the two acquired companies will be integrated into the OneWater parts-and-accessories division T-H Marine Supplies.
The deal is expected to close in OneWater’s fiscal fourth quarter, ending Sept. 30.
“OneWater has made great strides in establishing a parts-and-accessories business utilizing our acquisition platform to further enhance our higher-margin businesses, helping to insulate us from the industry cyclicality of new-boat sales,” said OneWater CEO Austin Singleton.