Suntex Marina Investors makes acquisition

Author:
Publish date:

Suntex Marina Investors acquired the Ocean Marine Yacht Center in Portsmouth, Va., from Ocean Marine LLC, a subsidiary of Valiant Holdings LLC.

Suntex Marinas said it acquired all of the real estate and will enhance services and amenities and will operate the newly named Ocean Yacht Marina.

Jim Bento, of Valiant Holdings, will continue to operate the Ocean Marine Yacht Center via a leaseback of the megayacht repair facilities.

The combined branding, marketing and operational proficiencies of both companies are expected to increase employment, with a particular emphasis in the yacht trades.

“Within the past month, Suntex Marinas has been proud to announce our intention and ability to provide the capital resources needed to support the marina industry,” Suntex founder and CEO Johnny Powers said in a statement.

“It is our vision to be the best steward of the marina experience globally, with early emphasis on the U.S. market. By acquiring Ocean Marine and collaborating with Jim Bento, we are confident that we are enabling the best possible marina experience for boaters, employees and communities alike.”

Related

The last straws

The Cleveland Boat Show does away with plastic straws, and the Modern Fish Act — unanimously passed by the U.S. Senate yesterday — needs our support for a push through the House of Representatives.

Boats Group appoints new COO

Brian Wolf, formerly head of business for Ford Motor Company’s Autonomous Vehicle division, will oversee the Boats Group’s portals.