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Safe Harbor Marinas could be up for grabs: Bloomberg
Posted on Tuesday, 14 January 2020 11:52
American Infrastructure Funds is considering a disposal of one of the largest owners of US marinas Safe Harbor Marinas in a deal that could fetch USD 2.00 billion, people with knowledge of the matter told Bloomberg.

These sources, who asked not to be identified as the situation is still private, noted the company has already been in talks with advisors regarding a sale.

Safe Harbor Marinas is partly owned by Koch Real Estate Investments and claims to be the largest owner and operator of marinas in the world.

The company is expected to attract interest from infrastructure and real estate-focused investment firms, Bloomberg observed.

In November, Safe Harbor Marinas picked up Hideaway Bay Marina, a Georgia-based marina operator, for an undisclosed amount, which came two years after the group purchased Brewer Yacht Yard in January 2017.

It was said at the time that the business was in talks to go public and was in discussions with investment banks to hold an initial public offering that could value the group at between USD 500.00 million and USD 1.00 billion.

Should a sale of Safe Harbor Marinas take place, it would be the largest to target a marina operator on record, according to Zephyr, the M&A database published by Bureau van Dijk.

There have been a total 134 deals signed off in this sector, some of these have included South Africa’s V&A Waterfront Holdings being taken private by Istithmar, London & Regional Group Holdings and BEE Investors in a deal worth ZAR 7.04 billion (USD 489.61 million) and REIT Asset Management picking up UK-based St Katharine Docks for GBP 300.00 million.

Four marinas were targeted in 2019, only one of which had a known value as Korean Air lines invested KRW 15.00 billion (USD 12.96 million) in its wholly-owned subsidiary and marina yacht club operator WLD.

© Zephus Ltd