OneWater Marine Inc. Completes the Acquisition of Denison Yachting
April 05 2022 - 7:00AM
OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or the “Company”)
announced today that it has completed the previously announced
acquisition of Denison Yachting. The transaction expands the
Company’s presence in the superyacht category and ancillary yacht
service offerings, in addition to yacht brokerage and new boat
sales.
Denison has ranked #1 in superyacht sales for
three consecutive years, per Boat International’s BOATPRO database
of the superyacht market. Further, Denison’s yacht charter and
yacht management services, including its crew placement division,
have experienced record growth since 2019.
“Denison Yachting is another outstanding
addition to our impressive list of strategic acquisitions,
significantly bolstering our product portfolio and customer reach.
Bob Denison and his team have earned every ounce of their
reputation as the worldwide leader in superyacht sales, and we are
excited to have them aboard. We look forward to utilizing our
combined strength to capitalize on robust demand, while also
elevating our leadership position for years to come,” said Austin
Singleton, Chief Executive Officer for OneWater.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and
fastest-growing premium marine retailers in the United States.
OneWater operates a total of 96 retail locations, 10 distribution
centers/warehouses and multiple online marketplaces in 20 different
states, several 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, finance and insurance products,
parts and accessories, maintenance, repair and other services.
Investor or Media Contact:Jack
EzzellChief Financial OfficerIR@OneWaterMarine.com
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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
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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, 2021, 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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