T-H Marine continues acquisition spree with new takeover
OneWater Marine has announced that its subsidiary, T-H Marine, has acquired JIF Marine, an industry-leading supplier of ladders, deck products and other accessories.
“JIF Marine has a strong reputation for service, value and selection, and we couldn’t be more excited to bring them onboard. This will be our first of hopefully many acquisitions since joining the OneWater team, which we believe creates an additional springboard for long-term growth,” said Jeff Huntley Sr., Chief Executive Officer for T-H Marine.
“T-H Marine has the opportunity to fold in great companies to further enhance our business, utilising our blueprint for acquisitions. We look forward to expanding JIF’s renowned product lines to reach more customers, leveraging our omni-channel strategy and the combined resources of T-H Marine and OneWater.”
JIF Marine, a third-generation family-owned business, is a category leader in stainless steel ladders and dock products, among other marine accessories to major boat manufacturers, distributors and big box stores. It will continue to operate as a standalone division of T-H Marine at its current Memphis facility.
“The OneWater family looks forward to welcoming Jimmy Freudenberg and the JIF Marine team as we continue to grow the higher margin marine parts and accessories business,” said Austin Singleton, Chief Executive Officer for OneWater.
“T-H Marine made a great fit for us back in November, as its history of accretive acquisitions aligns well with OneWater’s business model and growth strategy. We were very optimistic about the additional platform for growth with T-H Marine having its own acquisition pipeline, and we are seeing the benefits materialise with the first opportunity of many in JIF Marine.”
T-H Marine, which has acquired 14 businesses in its history, was itself bought for $185m by OneWater in November last year.
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