MarineMax to buy IGY Marinas
The American group MarineMax announced that it has finalized a definitive agreement to acquire IGY Marinas. The transaction is expected to be completed by mid-2023 and is worth $480 million in cash and potentially an additional $100 million based on two years of results.
With IGY Marinas, the company, already the world's largest distributor of pleasure boats, has acquired a well-established player in the management of high-end marinas worldwide. The company operates 23 marinas in popular sailing basins in the United States, the Caribbean and Europe, such as the Vieux Port in Cannes, Sète, Saint Katharine Docks in London, Porto Cervo in Sardinia, as well as harbors in Saint Martin, Florida and New York.
Strengthen the superyacht activity
The acquisition of IGY Marinas will strengthen MarineMax's presence in Europe. It will also enable the company to consolidate its development in the superyacht and large yacht sector. The American group had already acquired the well-known brokers Fraser Yachts and Northrop & Johnson, which are well established on the French Riviera and in the Mediterranean. Brett McGill, CEO of MarineMax is pleased with this unique positioning, "The addition of IGY Marinas positions MarineMax as the dominant leader in the superyacht industry, the only company able to offer an integrated experience combining high-value superyacht berths, marina services in premium locations with exclusive superyacht service offerings."
