Business Type: Boat Sales, Marina Operator
UK & International Business Sales and M&A News
MarineMaxInc, the largest recreational boat and yacht retailer in the US, has announced the acquisition of SkipperBud’s and its affiliate, Silver Seas Yachts (collectively SkipperBud’s), bringing the group’s total retail outlet count to 77.
With its HQ in Clearwater, Florida, the boat and yacht retailer MarineMax’s portfolio is focused on premium brands, and sells both new and used boats and related products and services. The company also owns Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies with operations in multiple countries.
SkipperBud’s was founded over 60 years ago under the leadership of Michael Pretasky Sr., and is now one of the largest sales, brokerage, service and marina/storage groups in the world. Led for the past 14 years by Michael Pretasky Jr., Fiscal 2019 revenue for SkipperBud’s was $220 million, making this the largest acquisition for MarineMaxInc to date, adding 20 locations.
Brett McGill, MarineMax CEO and President, commented:
“The Skipper Bud’s acquisition adds greatly to our geographic reach in the Great Lakes and the West Coast.
”It also provides us the opportunity to fully leverage our business and brand infrastructure across the country, better enabling us to serve customers in all markets. The acquisition aligns with our long-term strategy to grow our cycle resilient higher margin businesses, especially marina and storage income, by nearly doubling our marina operations.
”We are excited to have Mike Pretasky Jr. join our management team and continue to lead the operations. Mike has a proven track record in the marine industry and will help lead the company to further growth.”
Brett McGill – MarineMax CEO and President
The acquisition strengthens MarineMax’s premium real estate holdings with the addition of 11 marina and storage facilities, nearly doubling the company’s marina portfolio. The shareholders of SkipperBud’s will remain as its operators.
Mike Pretasky, Jr., SkipperBud’s President, commented:
“We have been long-time industry partners of MarineMax and have similar values of taking care of our customers and our team with a focus on our higher margin businesses.
”We are excited about joining the MarineMax team and gaining access to their exclusive brands will further drive our growth, especially in larger yachts.”
Mike Pretasky, Jr. – SkipperBud’s President
The acquisition is expected to be accretive in its first full year. MarineMax said it will provide additional details on the acquisition when it reports its fiscal year 2020 results.
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