West Marine to be acquired by largest consumer-focused private equity firm in the world
West Marine, a leading provider of boating and fishing products in the US, is to be acquired by L. Catterton, the largest global consumer-focused private equity group.
Founded in 1968, West Marine operates from 237 locations across the US and Puerto Rico and two e-commerce platforms, reaching domestic and international customers.
West Marine says that, in partnership with L.Catterton, it plans to continue to expand its marine centres and fast track the advancement of its digital content, commerce and community capabilities for customers and over-deliver value with product, knowledgeable advice and an exceptional and differentiated customer experience.
“We are thrilled to be partnering with L. Catterton in the next phase of growth for West Marine,” said West Marine CEO Ken Seipel. “The L. Catterton team brings invaluable consumer, brand building and digital expansion experience to help us accelerate our growth plans.”
“As the established leader, West Marine is incredibly well positioned in the marine aftermarket and we are excited to support the company as it expands its onmi-channel offerings and further cements its leadership across the country,” said Marc Magliacano, Managing Partner at L. Catterton.
“The US marine aftermarket industry is a fundamentally attractive category, benefiting from favourable consumer tailwinds, including long-term growth in boating usage for leisure and time spent with family, and higher focus on outdoor lifestyle activities including fishing,” added Matt Lischick, Partner at L. Catterton.