MarineMax Expands In The Mid-Atlantic
January 23 2018 - 8:00AM
Business Wire
~Strengthens Presence in New Jersey Market -
Acquires Island Marine Center~
MarineMax, Inc. (NYSE:HZO), the nation's largest recreational
boat and yacht retailer, today announced that it has completed the
acquisition of substantially all of the assets of Island Marine
Center.
Island Marine Center is entering its 34th year serving the
southern New Jersey boating market. Calendar 2017 revenue
approximated $10 million, making Island Marine one of the larger
dealers in the market, operating with two locations in Ocean View
and Somers Point, New Jersey. Island Marine has built its
reputation on customer service, consistent with MarineMax. Along
with sales and service, it also has extensive storage operations at
both of its locations. Rick Castellini of Island Marine, and his
team, will remain to manage and lead the operations.
William H. McGill, Jr., Chairman and Chief Executive Officer of
MarineMax, Inc. stated, "We are excited to strengthen and enhance
our already strong New Jersey presence with the Island Marine team.
Rick has done a great job building Island Marine around a similar
customer-centric service approach as MarineMax. Culturally, our two
companies are strongly aligned. With Island Marine, we are now even
better able to serve the important southern New Jersey area
market."
Rick Castellini of Island Marine, stated, “We are excited about
joining the MarineMax team. This combination better enables the
Island Marine operations to grow and take advantage of new
opportunities for the future. We expect this partnership will allow
Island Marine to take its business to the next level with
MarineMax.”
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s
largest recreational boat and yacht retailer. Focused on premium
brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut
Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest,
Bennington, Scout, Sailfish, Sea Pro, Sportsman, Scarab Jet Boats,
Yamaha Jet Boats, Aquila, and Nautique, MarineMax sells new and
used recreational boats and related marine products and services as
well as provides yacht brokerage and charter services. MarineMax
currently has 62 retail locations in Alabama, Connecticut, Florida,
Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey,
New York, North Carolina, Ohio, Oklahoma, Rhode Island, South
Carolina and Texas and operates MarineMax Vacations in Tortola,
British Virgin Islands. MarineMax is a New York Stock
Exchange-listed company. For more information, please visit
www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements include the current management team
remaining to manage and lead the operations, MarineMax’s ability to
serve the important southern New Jersey area market, and the
transaction enabling the Island Marine operations to grow and to
take advantage of new opportunities for the future. These
statements are based on current expectations, forecasts, risks,
uncertainties and assumptions that may cause actual results to
differ materially from expectations as of the date of this release.
These risks, assumptions and uncertainties include the assumption
the Company’s abilities to accomplish its goals and strategies, the
success of the acquisition, synergies expected from the
acquisition, general economic conditions and the level of consumer
spending, and numerous other factors identified in the Company’s
Form 10-K and other filings with the Securities and Exchange
Commission. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20180123005329/en/
MarineMax, Inc.Michael H. McLambChief Financial OfficerorAbbey
HeimensenPublic Relations727-531-1700orIntegrated Corporate
Relations, Inc.Brad Cohen, 203-682-8211Investor RelationsorSusan
Hartzell, 203-682-8238Media Contact
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