MarineMax expects the transaction to close in the first half of fiscal 2023, subject to the satisfaction of customary closing conditions…
MarineMax, the world’s largest recreational boat and yacht retailer, has announced that it has entered into a definitive agreement to acquire Island Global Yachting LLC (“IGY Marinas”), which owns and operates a collection of iconic marina assets and a yacht management platform in key global yachting destinations.
MarineMax will acquire IGY Marinas for $480 million in cash, with an additional potential earnout of up to $100 million two years after closing, subject to the achievement of defined performance metrics. IGY Marinas, through recent acquisitions and organic growth, is projected to generate over $100 million of revenue in 2022. Subject to the satisfaction of customary closing conditions, MarineMax expects the acquisition to close in the first half of fiscal 2023 and to be accretive within the first twelve months of closing.

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