MarineMax Completes Acquisition of Boatzon, an Innovative Customer Experience Driven Retail Technology Platform for the Marine Industry
January 05 2023 - 8:00AM
Business Wire
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational
boat and yacht retailer, has completed the acquisition of Boatzon,
the first 100 percent online boat and marine digital retail
platform, through its recently formed technology entity, New Wave
Innovations. Just as technology has changed the car-buying
experience, the integrated Boatzon platform is giving consumers the
ease and convenience of browsing for financing, purchasing, and
insuring a boat, entirely online.
Shawn Berg, EVP, Chief Digital Officer of MarineMax and
President of New Wave Innovations, stated, “Technology is integral
to the growth of the marine industry, and with the acquisition of
Boatzon we have added what we believe is the preeminent technology
business connecting consumers and marine dealers. Boatzon’s unique
combination of FinTech and InsureTech solutions is creating exactly
what current and prospective boat owners want—a simpler, faster,
and more efficient buying experience. Through New Wave Innovations
we are building on this foundation, giving the Boatzon team access
to technology, digital tools, and capital to continue to innovate
and grow. We are thrilled to welcome Bryan, Michael, and the entire
Boatzon team to the MarineMax family.”
Bryan Lenett, Co-Founder of Boatzon, added, “Fueled by
MarineMax’s international presence and global leadership in the
marine industry, we are excited about the significant opportunities
ahead to address the robust long-term growth forecast for the
recreational boating and yacht markets. We are exceptionally proud
to become an integral part of MarineMax’s technology
initiatives.”
Michael Muchnick, Co-Founder of Boatzon, commented “Since its
founding, Boatzon has become the retail technology platform for the
marine industry, delivering an exceptional experience for customers
and dealers alike. We are thrilled to become part of MarineMax and
look forward to continuing to build on Boatzon’s rapid
success.”
About MarineMax
MarineMax is the world’s largest recreational boat and yacht
retailer, selling new and used recreational boats, yachts, and
related marine products and services, as well as providing yacht
brokerage and charter services. MarineMax has over 125 locations
worldwide, including 78 retail dealership locations, some of which
include marinas. Collectively, with the IGY acquisition, MarineMax
owns or operates 57 marinas worldwide. Through Fraser Yachts and
Northrop & Johnson, the Company also is the largest superyacht
services provider, operating locations across the globe. Cruisers
Yachts, a MarineMax company, manufactures boats and yachts with
sales through our select retail dealership locations and through
independent dealers. Intrepid Powerboats, a MarineMax company,
manufactures powerboats and sells through a direct-to-consumer
model. MarineMax provides finance and insurance services through
wholly owned subsidiaries and operates MarineMax Vacations in
Tortola, British Virgin Islands. The Company also owns Boatyard, an
industry-leading customer experience digital product company.
MarineMax is a New York Stock Exchange-listed company (NYSE: HZO).
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 significant
opportunities ahead to address the robust long-term growth forecast
for the recreational boating and yacht markets, and Boatzon's
continued innovation, growth, and success. 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 Company’s abilities to
reduce inventory, manage expenses and accomplish its goals and
strategies, the quality of the new product offerings from the
Company’s manufacturing partners, the performance and integration
of the recently-acquired businesses, general economic conditions,
as well as those within the Company's industry, the level of
consumer spending, and numerous other factors identified in the
Company’s Form 10-K for the fiscal year ended September 30, 2022
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: https://www.businesswire.com/news/home/20230104005976/en/
Investors: Michael H. McLamb Chief Financial Officer
727-531-1700
Scott Solomon or Laura Resag Sharon Merrill Associates, Inc.
investors@marinemax.com
Media: Katherine Cooper MarineMax, Inc.
press@marinemax.com
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