OneWater Marine Inc. Completes the Acquisition of Stone Harbor Marina
August 05 2021 - 7:00AM
OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”)
announced today that it has completed the previously announced
acquisition of Stone Harbor Marina (“Stone Harbor”). Stone Harbor
enhances the Company’s presence in the northeastern U.S. and
expands new and pre-owned boat sales, storage, service
and repair, and finance and insurance offerings.
“We are elated to officially welcome Tom Russell
and the Stone Harbor team into the OneWater family. Our acquisition
strategy and proven history of integration continue to drive growth
in the business and value for our shareholders,” said Austin
Singleton, Chief Executive Officer for OneWater.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and
fastest-growing premium recreational boat retailers in the United
States. OneWater operates 70 stores throughout 11 different states,
eight of which are in the top twenty states for marine retail
expenditures. OneWater offers a broad range of products and
services and has diversified revenue streams, which include the
sale of new and pre-owned boats, parts and accessories, finance and
insurance products, maintenance and repair services and ancillary
services such as boat storage.
Investor or Media Contact:Jack
EzzellChief Financial OfficerIR@OneWaterMarine.com
Cautionary Statement Concerning
Forward-Looking Statements
This press release and statements made during
the above referenced conference call may contain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, including regarding our strategy, future
operations, financial position, prospects, plans and objectives of
management, growth rate and its expectations regarding future
revenue, operating income or loss or earnings or loss per share. In
some cases, you can identify forward-looking statements because
they contain words such as “may,” “will,” “will be,” “will
likely result,” “should,” “expects,” “plans,” “anticipates,”
“could,” “would,” “foresees,” “intends,” “target,” “projects,”
“contemplates,” “believes,” “estimates,” “predicts,” “potential,”
“outlook” or “continue” or the negative of these words or other
similar terms or expressions that concern our expectations,
strategy, plans or intentions. These forward-looking statements are
not guarantees of future performance, but are based on management's
current expectations, assumptions and beliefs concerning future
developments and their potential effect on us, which are inherently
subject to uncertainties, risks and changes in circumstances that
are difficult to predict. Our expectations expressed or implied in
these forward-looking statements may not turn out to be
correct.
Important factors, some of which are beyond our
control, that could cause actual results to differ materially from
our historical results or those expressed or implied by these
forward-looking statements include the following: effects of
industry wide supply chain challenges and our ability to maintain
adequate inventory, changes in demand for our products and
services, the seasonality and volatility of the boat industry, our
acquisition and business strategies, the inability to comply with
the financial and other covenants and metrics in our credit
facilities, cash flow and access to capital, effects of the
COVID-19 pandemic and related governmental actions or restrictions
on the Company’s business, risks related to the ability to realize
the anticipated benefits of any proposed or recent acquisitions,
including the risk that proposed or recent acquisitions will not be
integrated successfully, the timing of development expenditures,
and other risks. More information on these risks and other
potential factors that could affect our financial results is
included in our filings with the Securities and Exchange
Commission, including in the “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations” sections of our Annual Report on Form 10-K for the
fiscal year ended September 30, 2020 and in our subsequently filed
Quarterly Reports on Form 10-Q, each of which is on file with the
SEC and available from OneWater Marine’s website at
www.onewatermarine.com under the “Investors” tab, and in other
documents OneWater Marine files with the SEC. Any forward-looking
statement speaks only as of the date as of which such statement is
made, and, except as required by law, we undertake no obligation to
update or revise publicly any forward-looking statements, whether
because of new information, future events, or otherwise.
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