Recreational marine industry leader Boats Group has majority stake acquired by a Permira Funds-backed company

USA
20th January 2021

Recreational marine industry leader Boats Group has majority stake acquired by a Permira Funds-backed company

recreational marine industry

A company backed by the Permira funds has agreed to acquire a majority stake in Boats Group, an online classifieds marketplace and technology provider for the recreational marine industry, from funds advised by Apax Partners.

Boats Group, with its HQ in Miami, operates leading brands YachtWorld, Boat Trader, boats.com, Cosas De Barcos, Annonces du Bateau and Botentekoop to connect buyers and sellers of boats in the recreational marine industry.

It provides over 4,000 brokers and dealers in more than 140 countries with a comprehensive suite of technology-based marketing and software solutions, enabling them to effectively reach in-market consumers, improve their overall profitability, and manage their operations.

Sam Fulton, CEO of Boats Group, believes the acquisition will result in further growth.

He commented:

David Erlong, Principal at Permira, is confident that the move will continue to improve the services and technology provided to the leisure marine industry.

He said:

Apax Partners, headquartered in London, cited Boats Group’s growth in the marketplace as a key factor in the acquisition. Apax’s investments range from real estate and automobile classified sites to digital retailers, online education, active wear and more.

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Marcelo Gigliani, Partner at Apax Partners, added:

RBC Capital Markets served as financial advisor to Permira, and Fried, Frank, Harris, Shriver & Jacobson LLP provided legal counsel. Evercore served as financial advisor to Apax Partners and Boats Group, and Kirkland & Ellis LLP provided legal counsel. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2021. Financial details of the transaction have not been disclosed.

About Boats Group About Permira About Apax Partners

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