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MarineMax sails off with Boatyard
Posted on Tuesday, 17 March 2020 15:31
MarineMax has announced it has acquired US-based digital boating application Boatyard for an undisclosed sum.
Following the transaction, the target will continue to operate as an independent brand.
Launched by Nathan Heber in 2014, Boatyard is an app which allows clients to find and book qualified marine professionals for a variety of activities, including fuel delivery, cleaning and captaining a boat.
Its technology enables users to automate their administrative tasks and ensure strong customer service.
The new MarineMax platform will be headed by Heber, who will also become the president of Boatyard under the acquiror.
W Brett McGill, chief executive of the purchaser, said: “As MarineMax continues to leverage its investments in technology, the addition of Boatyard will be a key focus for the organisation.
“We believe this digital platform can become an accelerator in MarineMax’s evolving strategy to enhance and further transform the boating experience.”
He added the deal would also strengthen its existing relationships with boat owners.
Located in Florida, MarineMax claims to be the largest recreational boat and yacht retailer in the US.
The group’s products include the brands Sailfish, Aviara, Galeon and Ocean Alexander.
MarineMax also hosts boat shows and events, such as the Great Lakes Boating Festival and the Cape May Rendezvous.
Alongside its main activities, the company provides maintenance and repower services, as well as parts and accessories for repairs.
During the financial year ended 30th September 2019, MarineMax generated revenue of USD 1.24 billion, up 5.1 per cent from USD 1.18 billion in the preceding 12 months.
According to Zephyr, the M&A database published by Bureau van Dijk, there were 4,962 deals targeting software publishers signed off worldwide in 2019.
Private equity firm Hellman & Friedman, via Unite Parent, acquired US-based Ultimate Software Group for USD 11.00 billion in the largest of these.
The deal represented the second-largest transaction on record for this sector, behind International Business Machines’ acquisition of Red Hat for USD 34.00 billion in October 2018.
© Zephus Ltd