OneWater Marine Inc. Completes the Acquisition of T-H Marine
December 02 2021 - 7:00AM
OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”)
announced today that it has completed the previously announced
acquisition of T-H Marine, a leading provider of branded marine
parts and accessories. OneWater expects that the acquisition will
significantly expand the Company’s presence in the parts and
accessories sector. The transaction is expected to more than double
the annual revenue of OneWater’s current business in the space.
“We couldn’t be more excited to welcome Jeff
Huntley Sr. and his team into the OneWater family. This transaction
meaningfully advances OneWater’s strategic growth and
diversification strategy and is expected to materially expand our
addressable market in the parts and accessories business. T-H
Marine will serve as an additional platform for growth with its
strong pipeline in both product development and its own acquisition
strategy, led by an experienced and capable team. With T-H Marine,
we can now provide a more complete offering to our customers while
continuing to drive growth and unlocking 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 71 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 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
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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
within the anticipated timeframe or at all, 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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