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MarineMax to Acquire Williams Tenders USA, Complementing its Luxury Yacht and Superyacht Offerings
"Williams Tenders USA complements our product and service offerings, enhancing the value we provide to yacht and superyacht customers," stated Brett McGill, Chief Executive Officer and President of MarineMax. "This transaction aligns with a key element of our growth strategy of acquiring high-quality businesses that expand our unique portfolio of assets, strengthen our margin profile, and deepen our relationships with customers across the recreational marine ecosystem. Like MarineMax, Williams Tenders USA is a business that is passionate about the boating lifestyle. We look forward to welcoming company President Chris Rimmer and his talented team to the MarineMax family and building on their success as a distributor in the US and Caribbean." "MarineMax is an outstanding organization with a reputation for excellence. Their extensive resources and global network will enable us to further scale our independently run operations across North America," Chris Rimmer stated. "As a result, Williams Tenders USA will be able to better serve our yacht customers and dealers and propel our business to a new level of growth." About Williams Tenders USA Williams Tenders USA is the premier U.S. distributor and retailer for Williams Jet Tenders, the world's leading luxury jet tender manufacturer. The United Kingdom based manufacturer was established in 2005 and is known for its innovative, high-performance tenders and customized yacht solutions. In 2014, Williams Jet Tenders established its U.S. distributor and retailer, Williams Tenders USA. Headquartered in Pompano Beach, Florida, and with dealer locations on the U.S. East and West Coasts, in the Great Lakes region and in the Caribbean, Williams Tenders USA provides comprehensive coverage for customers throughout the United States and the Caribbean. About MarineMax As the world's largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax (NYSE: HZO) is United by Water. We have 130 locations worldwide, including 81 dealerships and 66 marina and storage facilities. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world's premier manufacturers of premium sport yachts and motor yachts; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth's surface. We're focused on the other 71%. Learn more at www.marinemax.com. Forward Looking Statement Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the expectations that the acquisition of Williams Tenders, USA, Inc. will close by March 31, 2024, and be accretive in the first full year of operations, as well as the financial and operational benefits of the acquisition. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company's abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company's manufacturing partners, the performance and integration of the recently-acquired businesses, general economic conditions, as well as those within the Company's industry, the liquidity and strength of its bank group partners, the level of consumer spending, and numerous other factors identified in the Company's Form 10-K for the fiscal year ended September 30, 2023 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. View source version on businesswire.com: https://www.businesswire.com/news/home/20240105209396/en/
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