T-H Marine, which announced the 14th acquisition in its history following two purchases last month – has itself been sold in a deal worth around $185m.
Purchaser OneWater Marine, the largest and fastest growing recreational boat retailer in the US, expects the move to more than double the size of its service, parts and other sales business. The transaction is expected to close in the fourth quarter of 2021.
“With its comprehensive product portfolio, reputation for innovation, omni-channel sales strategy and ability to acquire and integrate niche category leaders, we look forward to welcoming Jeff Huntley Snr and his team to the OneWater family,” said Austin Singleton, OneWater’s CEO.
“We believe that T-H Marine represents a strong, natural fit with our service, parts and other sales business and meaningfully increases our market for marine parts and accessories. With a track record of increasing financial performance, we believe the addition of T-H Marine will further enhance our long-term growth strategy as we continue to scale the business and drive value to our shareholders.”
Huntley, T-H Marine CEO, added: “Our history of accretive acquisitions is not only complementary to OneWater’s business model and growth strategy, but also provides an additional platform for expansion. We look forward to working with the OneWater team to scale the business through organic investments and acquisitional growth. Joining OneWater will allow us to further enhance our strategy of acquiring and growing businesses to serve all of our aftermarket and OEM customers with even more amazing products.”