OneWater Marine has entered into an agreement to acquire online retailer PartsVu, expanding its presence in the P&A sector. Terms of the deal were not disclosed; the transaction is expected to close in the fourth quarter of this year.
Launched in 2016, PartsVu offers a wide range of parts and accessories, replacement engine parts, service kits and more, with intuitive tools to help customers find genuine OEM parts. According to the company, it generated $25 million in sales over the last 12 months.
“We are elated to welcome...the PartsVu team into the OneWater family,” said CEO Austin Singleton in a statement. “PartsVu serves a broad range of customers including novice to expert boat owners, independent mechanics and small tech shops that rely on the team’s expert technical knowledge and sizeable parts inventory. We believe this presents tremendous growth opportunity for OneWater.”
PartsVu co-owners Philip Osborne and Michael Newton see the acquisition as a natural progression to expand the company’s reach.
“Like OneWater, PartsVu was started by avid boaters and is founded on the principles of knowledge, selection, and value, while staying grounded in our commitment to the everyday boater. By partnering with OneWater and utilizing their incredible digital reach, notable company culture and capital structure, PartsVu will have a solid base to support future growth,” said Osborne.
Michael Newton added: “Utilizing the datasets derived from OneWater’s extensive marine data sources, as well as the synergistic strengths of our teams, we have ambitious plans for the future, while staying centered around our ongoing goal of providing a world class experience to each and every visitor of PartsVu.com"