Suntex Marina Investors entered into an agreement with, and acquired certain interests of, Marina Jack Holdings and affiliates of SRS Holdings.
Those two holding companies are parent companies of Marina Jack and Oleary’s Tiki Bar in downtown Sarasota, Fla., as well as Bayfront Yacht Works & Marina, Bayfront Excursions, and Turtle Beach Grill on south Siesta Key, Fla.
“We are very excited to welcome Marina Jack to our portfolio of exceptional properties,” Suntex founding principal Bryan Redmond said in a statement. “Marina Jack is one of the preeminent marina and hospitality sites in the U.S. and in 2015 was recognized by a leading marine trade publication as National Marina of the Year.”
All employees and management personnel of Marina Jack’s restaurant and marina subsidiaries will be kept throughout the transition.
“This is without question a merger of strengths from an operational and managerial standpoint,” Marina Jack CEO Robert Soran said. “We share a vision of future growth opportunities for our people and our combined companies.” Soran will have an equity interest and board advisory capacity with Suntex.
The Suntex merger includes two local marina entities. With direct, no-bridge access to the Gulf, Marina Jack has slip accommodations for vessels up to 228 feet, with 316 wet and dry slips, a full-service fuel dock, ship's store and an on-site yacht services department.
The same management and operations personnel that developed Marina Jack into an award-winning marina recently purchased the former Turtle Beach Marina in September of 2015. Now known as Bayfront Yacht Works and Marina, this south Siesta Key business features a full-service boat yard with haul-out capabilities for vessels up to 65 feet.
Bayfront Yacht Works & Marina adds an additional 60 dry and wet slips to the portfolio, along with a rapidly growing boat and watersport rental business known as Bayfront Excursions.
The merger also includes three well-known restaurant entities. As Sarasota’s oldest continuously operating restaurant, Marina Jack is comprised of three hospitality venues featuring a mix of casual and upscale dining.
Marina Jack offers a full-service private event room used for weddings and group events with views of Sarasota Bay. The restaurant also operates the Marina Jack II, a 96-foot passenger vessel used for sightseeing and sunset dinner cruises.
Oleary’s Tiki Bar & Grill is adjacent to Marina Jack along the Sarasota Bayfront. This casual tiki bar features live entertainment daily and a dining area directly on the beach.
Marina Jack’s management and ownership team acquired Turtle Beach Grill on south Siesta Key in September of 2015, with indoor and outdoor seating near Siesta Key’s Turtle Beach.
Suntex adds Marina Jack to its portfolio of 34 marinas in Kentucky, Florida, Georgia, Iowa, Maryland, Massachusetts, New Jersey, New York, Texas, Virginia, Tennessee, Oklahoma and St. Maarten.