PROSPECTUS SUMMARY
The following summary contains basic information about us. It does not contain all of the information that may be important to purchasers of our
securities. Prospective purchasers of securities should carefully review the entire prospectus, including the detailed information and financial statements, including the notes thereto, appearing elsewhere in or incorporated by reference into this
prospectus and any other documents we have referred you to.
Our Company, History, and Strategy
MarineMax was founded in January 1998. MarineMax itself, however, conducted no operations until the acquisition of five independent
recreational boat dealers on March 1, 1998, and we completed our initial public offering in June 1998. Since the initial acquisitions in March 1998, we have acquired we have acquired 30 recreational boat dealers, four boat brokerage operations,
and two full-service yacht repair facilities. Acquired dealers operate under the MarineMax name.
We are the largest recreational boat and
yacht retailer in the United States. Through 77 retail locations in Alabama, California, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode
Island, South Carolina, Texas, Washington and Wisconsin, we sell new and used recreational boats, including pleasure and fishing boats, with a focus on premium brands in each segment. These sales may occur at our retail locations, at offsite
locations, or digitally. We also sell related marine products, including engines, trailers, parts, and accessories. In addition, we provide repair, maintenance, and slip and storage services; we arrange related boat financing, insurance, and
extended service contracts; we offer boat and yacht brokerage sales; yacht charter services; and we operate a yacht charter business in the British Virgin Islands. We also own Fraser Yachts Group and Northrop & Johnson, leading superyacht
brokerage and luxury yacht services companies with operations in multiple countries. We plan to continue to expand these products and services.
We continually attempt to enhance our business by providing a full range of services, offering extensive and high-quality product lines,
maintaining prime retail locations, pursuing the MarineMax One Price hassle-free sales approach, and emphasizing a high level of customer service and satisfaction.
We also from time to time evaluate opportunities to expand our operations by potentially acquiring recreational boat dealers to expand our
geographic scope, expanding our product lines, opening new retail locations within or outside our existing territories, offering new products and services for our customers and potentially acquiring companies to pursue contract manufacturing or
vertical integration strategies. Our expansion plans will depend, in large part, upon economic and industry conditions. We have recently broadened our strategy somewhat, including through our recent acquisitions of Fraser Yachts Group,
Northrop & Johnson and SkipperBuds, to increase our superyacht brokerage and luxury yacht services and marina/storage services. Our goal is that this broadening of our strategy will potentially increase our margins and also decrease
our seasonality.
Apart from acquisitions, we have opened 35 new retail locations in existing territories, excluding those opened on a
temporary basis for a specific purpose. We also monitor the performance of our retail locations and close retail locations that do not meet our expectations. Based on these factors and previous depressed economic conditions, we have closed 74 retail
locations since March 1998 which includes the 2008 financial crisis, excluding those opened on a temporary basis for a specific purpose, including 11 during the last three fiscal years.
We add brands with the intent to either offer a migration path for our existing customer base or fill a gap in our product offerings. As a
result, we believe that new brands we offer are generally complementary and do not negatively impact the business generated from our other prominent brands. We also discontinue offering product lines from time to time, primarily based upon customer
preferences.
We strive to maintain our core values of high customer service and satisfaction and plan to continue to pursue strategies
that we believe will enable us to achieve long-term success and growth.
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